Balanced Risk Profile After TIGIT Failure and Gilead Exit Supports Neutral Stance on Arcus

Bank of America Securities analyst Jason Zemansky maintained a Hold rating on Arcus Biosciences yesterday and set a price target of $25.00.

Jason Zemansky has given his Hold rating due to a combination of factors tied to Arcus’s recent clinical and strategic setbacks. The phase 3 lung cancer trial of its TIGIT antibody domvanalimab was stopped early for lack of efficacy, following a prior failure in upper GI cancer, which undermines confidence in TIGIT as a next‑generation immuno-oncology approach and likely curtails further investment in that program.

At the same time, Gilead’s decision to terminate most of its collaboration adds pressure, reinforcing concerns about the value and partnering appeal of the pipeline, even as some assets like quemliclustat and casdatifan remain in development. While casdatifan could be competitive in renal cell carcinoma, experts highlight commercial hurdles in a fragmented, combo‑driven and increasingly crowded market, and most other programs are still early or in challenging indications, leaving risk and potential reward roughly balanced and justifying a Neutral stance with limited upside to his $25 price objective.

According to TipRanks, Zemansky is a 5-star analyst with an average return of 25.5% and a 63.01% success rate. Zemansky covers the Healthcare sector, focusing on stocks such as Insmed, BridgeBio Pharma, and Esperion.