BTIG starts Arcus Biosciences at buy; PT $20
BTIG initiated coverage of Arcus Biosciences (NYSE:RCUS) with a “buy” rating and $20 price target. The stock closed at $11.67 on March 15.
Arcus is focused on driving antitumor immune responses beyond the level achievable by immune checkpoint inhibitors. “We find data to date compelling, as biomarkers of immune activity have been seen as has monotherapy efficacy for members of the A2aR inhibitor class,” writes analyst Thomas Schrader.
“Several [Arcus] trials are enrolling with data expected in mid-2019. Overall, [Arcus’] AB928 looks like a good molecule in an active class. We will know soon,” he added.
AB928 is a dual adenosine receptor antagonist, which is in a Phase 1/1b program to evaluate AB928 in combination with other agents in multiple tumor types.