Wedbush raises Arcus Biosciences price target to $41, adds to Best Ideas List

Wedbush raised the firm’s price target on Arcus Biosciences (RCUS) to $41 from $37 and keeps an Outperform rating on the shares. The firm is also adding the stock to its Best Ideas List ahead of key clinical updates in 2026, including more mature data from the ARC-20 combination cohort evaluating HIF-2alpha inhibitor casdatifan plus cabozantinib in IO-experienced metastatic ccRCC patients that Wedbush expects to provide significant support to the ongoing Phase 3 PEAK-1, initial data evaluating cas in early line settings expected to support a TKI-free frontline Phase 3 in ccRCC by year-end 2026, and potential completion of Phase 3 PEAK-1 enrollment in 2026.