Goldman says this pharmaceutical stock could rise nearly 70%
Goldman Sachs sees big gains for Merus from the company’s cancer treatment. The firm initiated coverage on the cancer treatment stock with a buy rating on Wednesday, along with a $73 per share price target. Goldman’s forecast implies a 68% gain from Wednesday’s close. Goldman Sachs analyst Richard Law highlights the company’s estimated glomerular filtration rate (EGFR) antibody petosemtamab, which is used to treat recurrent and metastatic head and neck squamous cell carcinoma. Law said the antibody has shown promising results and could be a key growth driver for the stock going forward. MRUS YTD ancient mountain Merus. “We believe peto has a reasonable opportunity to demonstrate best-in-class safety/effectiveness,” said Law. “While some ADC [antibody-drug conjugates] and multikinase inhibitors appear to have encouraging efficacy, but they also have higher toxicity.” Merus supplies increased more than 56% in 2024. Law added that antibody treatments could equivalent to a total reachable market of approximately 56,000 annually, which may grow depending on the results of the upcoming Phase 2 trial.
