BMO Capital analyst Etzer Darout raised the firm’s price target on Merus (MRUS) to $110 from $96 and keeps an Outperform rating on the shares. The firm notes that ASCO readouts are off to a strong start with the updated Phase 2 data of Merus’s petosemtamab + pembro in first-line HNSCC, the analyst tells investors in a research note. BMO adds that it has a higher confidence in the approvability of petosemtamab in HNSCC, with probability of success rising to 90% from 85%.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on MRUS:
- Merus price target raised to $92 from $70 at BofA
- Promising Potential of Merus’s Petosemtamab: A Buy Rating Backed by Impressive Efficacy and Safety
- Merus’s Peto+Pembro Shows Promising Potential in HNSCC with High Survival Rates and Increased Price Target
- Merus’s Promising Oncology Advancements Justify Buy Rating Amidst Strong Clinical Results
- Closing Bell Movers: Deckers falls 15% on weak guidance; Nuclear names rally