Arcus Biosciences initiated at BTIG

Arcus Biosciences initiated with a Buy at BTIG. BTIG analyst Thomas Shrader initiated Arcus Biosciences with a Buy rating and a price target of $20, citing the company’s work in chemotherapy and its focus on “driving antitumor immune responses beyond the level achievable by immune checkpoint inhibitors.” The analyst sees its data released thus far as “compelling” and notes “several trials” currently enrolling with data expected in mid-2019, with results that could potentially “establish proof of biology and validate patient selection biomarkers.” Shrader further notes that Arcus Biosciences’ $260M in cash “gives the company runway to optimize its long-term strategy.”
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