Morgan Stanley lowered the firm’s price target on Arcus Biosciences (RCUS) to $35 from $40 and keeps an Overweight rating on the shares. Roche’s (RHHBY) recent Tiragolumab/anti-TIGIT setback in lung cancer leads the firm to lower its view on the odds of success for Merck (MRK) and Gilead/Arcus’ anti-TIGIT programs in lung cancer to 40% from 50%, the analyst tells investors in a Q2 earnings preview note for the Biopharma group.
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