Truist raises Arcus Biosciences stock price target on drug data

Wedbush kept its Outperform rating on Arcus Biosciences (RCUS) with a $49 target, implying 106.3% upside. Analysts cite strong data for casdatifan, including 35-month mOS and 13-month mPFS, and promising combo therapy results with cabozantinib.

Arcus Biosciences (RCUS) presented data on casdatifan at its Investor Day, highlighting a $5B-$10B opportunity in renal cell carcinoma (RCC). The company reported promising results from Phase III trials, including a median progression-free survival of 14.5 months for the casdatifan-cabozantinib combination. Arcus plans to begin a first-line trial, PEAK-20, by year-end, with progression-free survival as the primary endpoint.

Arcus Biosciences (RCUS) shares increased after the company reported updated data from its ARC-20 study for kidney cancer drug casdatifan, drawing positive analyst reactions. The study evaluates the HIF-2α inhibitor as a monotherapy.

Arcus Biosciences (NYSE: RCUS) shares rose 9.53% to $24.25 after presenting positive data for its cancer treatment, casdatifan, across various kidney cancer settings. The company reported progression-free survival exceeding benchmarks in first- and second-line treatments, and a nearly three-year median overall survival in late-line settings. Arcus plans to initiate a registrational trial for casdatifan plus tivozanib by year-end.

Arcus Biosciences (RCUS) reported positive results for its kidney cancer treatment, casdatifan, in multiple datasets. Shares initially dropped over 10% but recovered to a single-digit decline. The drug was tested as a first, second, and later treatment, alone and in combination, showing promise in renal cell carcinoma patients.

Arcus Biosciences (NYSE:RCUS) shares dropped 6% after presenting clinical data for casdatifan, its investigational HIF-2α inhibitor. The data showed progression-free survival figures exceeding benchmarks in clear cell renal cell carcinoma, but the market reaction was negative. The company plans to start a Phase 3 study by year-end.