Truist initiated coverage of Merus with a Buy rating and $69 price target. The analyst expects petosemtamab to be “highly effective” in combination with immunotherapy in the frontline setting for head and neck cancer. The firm models $2B in unadjusted 2030 sales. While the stock is up 114% since November 1, there is more upside on petosemtamab’ two clinical catalysts in 2024 and Merus’ “deal potential,” the analyst tells investors in a research note.
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