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%.
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