Arcus Biosciences price target lowered to $26 from $29 at Wells Fargo

Wells Fargo analyst Eva Fortea Verdejo lowered the firm’s price target on Arcus Biosciences (RCUS) to $26 from $29 and keeps an Overweight rating on the shares. The firm says that casdatifan plus cabozantinib data in ccRCC expected at ASCO could be a source of upside, with a favorable risk/reward together with further updates expected in the Fall. Wells believes casdatifan is differentiated and remains underappreciated by the Street.