Goldman says this pharma stock can rally nearly 70%

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Goldman says this pharma stock can rally nearly 70%

Goldman Sachs sees big gains ahead for Merus on the back of the company’s ******* treatment. The firm initiated coverage of the ******* therapeutics stock with a buy rating on Wednesday, alongside a $73 per share price target. Goldman’s forecast implies 68% upside from Wednesday’s close. Goldman Sachs analyst Richard Law highlighted the company’s estimated glomerular filtration rate (EGFR) petosemtamab antibody, which is intended for treating recurring and metastatic head and neck squamous cell carcinoma. Law said the antibody has already shown promising results and can be a key growth driver for the stock moving forward. MRUS YTD mountain Merus stock. “We believe peto has a reasonable chance of demonstrating best-in-class efficacy/safety profile,” Law said. “While some ADCs [antibody-***** conjugates] and multikinase inhibitors appear to have encouraging efficacy, they also have higher toxicities.” Merus stock has advanced more than 56% already in 2024. Law added that the antibody’s treatment could equate to a total addressable market of roughly 56,000 annually, which could grow depending on the results of forthcoming Phase 2 test results.

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