Analyst Emily Bodnar of H.C. Wainwright maintained a Buy rating on Arcus Biosciences, retaining the price target of $24.00.
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Emily Bodnar’s rating is based on the promising data presented by Arcus Biosciences regarding their drug casdatifan (cas) as a monotherapy for treating ccRCC. The updated data from the ARC-20 trial showed a significant improvement in the objective response rate (ORR) and progression-free survival (PFS) when compared to the existing treatment, belzutifan. Specifically, cas demonstrated a confirmed ORR of 35% and a median PFS that was not reached, indicating superior efficacy over belzutifan’s ORR of 22% and median PFS of 5.6 months.
Furthermore, the data highlighted cas’s ability to achieve deep and durable suppression of erythropoietin (EPO), which is linked to improved patient outcomes. The safety profile of cas was also favorable, with lower rates of serious adverse events compared to belzutifan. These factors suggest that cas could become a preferred treatment option across various lines of therapy for ccRCC, supporting Emily Bodnar’s Buy rating for Arcus Biosciences.
In another report released today, Barclays also maintained a Buy rating on the stock with a $14.00 price target.