Arcus Biosciences price target raised to $42 from $37 at Citi

Citi analyst Yigal Nochomovitz raised the firm’s price target on Arcus Biosciences to $42 from $37 and keeps a Buy rating on the shares. The post-market selloff in Arcus shares again highlights that datasets need to be near-perfect for stocks to at least hold their value in the current tape, Nochomovitz tells investors in a research note. Though acknowledging zimberelimab underperformed expectations, Nochomovitz says investors need to respect the randomization of the study which points to TIGIT driving an efficacy benefit over PD-1 alone.