Arcus Biosciences price target raised to $44 from $41 at Citi

Citi raised the firm’s price target on Arcus Biosciences to $44 from $41 and keeps a Buy rating on the shares. In view of the interim data drop from Roche’s SKY-01 further validating the added benefit of TIGIT blockade to PD-1 inhibition in PD-L1-high non-small cell lung cancer, the firm raised its probability of success for Arcus’ domvanalimab to 80% in this population and to 40% in the PD-L1-low setting. Citi expects investors to begin assigning somewhat higher probabilities of success for TIGIT in other tumor types.