Arcus Biosciences price target raised to $46 from $38 at Citi

Citi analyst Yigal Nochomovitz raised the firm’s price target on Arcus Biosciences (RCUS) to $46 from $38 and keeps a Buy rating on the shares after the company presented the first clinical activity data for casdatifan in an oral plenary session at the 2024 EORTC-NCI-AACR Symposium on Molecular Targets and Cancer Therapeutics. The Triple data for casdatifan, while still evolving, provide “a very favorable picture of clinical benefit/risk,” says the analyst, who has added cas to the firm’s model in post-immunotherapy treatment for metastatic clear cell renal cell carcinoma, or ccRCC, with 65% odds of success and a 2028 U.S. launch.