BMO Capital analyst Etzer Darout raised the firm’s price target on Merus (MRUS) to $91 from $84 and keeps an Outperform rating on the shares as the firm turns incrementally more positive on the name following its ASCO presentations. The presentation for petosemtamab in front-line treatment of patients with squamous-cell head and neck cancer, or HNSCC, with Merck’s (MRK) was in line with expectations but the opportunity to see patient-level details on response and durability increases the firm’s confidence in the HSNCC programs, the analyst tells investors in a research note. BMO is also raising its probability of success for petosemtamab in HNSCC to 75% from 65%.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on MRUS:
- Merus’ MCLA-129 Demonstrates Promising Single-Agent Efficiency in METex14 NSCLC in Poster Presentation at the 2024 ASCO® Annual Meeting
- Merus presents interim data on MCLA-145 monotherapy, combo with pembrolizumab
- Merus Presents Interim Data on MCLA-145 Monotherapy and in Combination with Pembrolizumab at the 2024 ASCO® Annual Meeting
- Merus 7.55M share Spot Secondary priced at $53.00
- Merus price target raised to $80 from $61 at BofA