BofA raised the firm’s price target on Merus (MRUS) to $52 from $44 and keeps a Buy rating on the shares after the company announced a new collaboration with Gilead (GILD) for the discovery and development of novel trispecific antibodies. The firm thinks the partnership with a large biopharmaceutical company reflects confidence in the potential for the platform to expand to trispecific antibodies and further advance the early-stage pipeline, the analyst tells investors. The firm also thinks it could help Merus leverage Gilead’s commercial and development expertise in oncology.
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