Needham raised the firm’s price target on Merus to $92 from $66 and keeps a Buy rating on the shares. The updated data for petosemtamab in combination with pembrolizumab in first-line treatment of recurrent/metastatic head and neck squamous cell carcinoma continue to support that the combination will likely be the new standard-of-care, the analyst tells investors in a research note. The firm increased the peak market share and probability of success for petosemtamab in first line based on these data. It says the data “continues to look strong.”
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