Arcus Biosciences’ (RCUS) “Outperform” Rating Reiterated at Wedbush

Wedbush reaffirmed their outperform rating on shares of Arcus Biosciences (NYSE:RCUS) in a report published on Thursday,RTT News reports. They currently have a $36.00 price objective on the stock.

Several other research firms have also weighed in on RCUS. Wells Fargo & Company assumed coverage on shares of Arcus Biosciences in a research report on Tuesday, October 8th. They set an “overweight” rating and a $29.00 price target for the company. Cantor Fitzgerald reissued an “overweight” rating on shares of Arcus Biosciences in a research report on Thursday, October 3rd. HC Wainwright reaffirmed a “neutral” rating and issued a $20.00 price target on shares of Arcus Biosciences in a report on Wednesday. Barclays increased their price objective on Arcus Biosciences from $25.00 to $29.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Finally, Evercore ISI upgraded Arcus Biosciences to a “strong-buy” rating in a research note on Friday, August 9th. One analyst has rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $34.13.

Arcus Biosciences Stock Up 8.4 %

Arcus Biosciences stock opened at $17.85 on Thursday. Arcus Biosciences has a 52 week low of $12.95 and a 52 week high of $20.31. The company’s 50 day moving average price is $16.61 and its two-hundred day moving average price is $16.06. The stock has a market cap of $1.63 billion, a P/E ratio of -5.67 and a beta of 0.89.

Arcus Biosciences (NYSE:RCUS) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($1.00) EPS for the quarter, topping analysts’ consensus estimates of ($1.06) by $0.06. The business had revenue of $48.00 million for the quarter, compared to analyst estimates of $38.95 million. Arcus Biosciences had a negative return on equity of 44.90% and a negative net margin of 102.66%. Arcus Biosciences’s quarterly revenue was up 50.0% compared to the same quarter last year. During the same period last year, the company posted ($0.94) earnings per share. On average, equities analysts anticipate that Arcus Biosciences will post -3.25 EPS for the current year.

Institutional Trading of Arcus Biosciences

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Headlands Technologies LLC purchased a new position in Arcus Biosciences during the 1st quarter valued at about $59,000. Innealta Capital LLC bought a new position in shares of Arcus Biosciences in the second quarter valued at approximately $66,000. Point72 DIFC Ltd purchased a new position in Arcus Biosciences during the second quarter valued at approximately $83,000. Quest Partners LLC increased its holdings in Arcus Biosciences by 40,904.3% during the 3rd quarter. Quest Partners LLC now owns 9,431 shares of the company’s stock worth $144,000 after acquiring an additional 9,408 shares during the period. Finally, ProShare Advisors LLC lifted its stake in Arcus Biosciences by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 10,846 shares of the company’s stock worth $205,000 after purchasing an additional 746 shares in the last quarter. 92.89% of the stock is currently owned by institutional investors.

About Arcus Biosciences

Arcus Biosciences, Inc, a clinical-stage biopharmaceutical company, develops and commercializes cancer therapies in the United States. The company's pipeline products include Domvanalimab, an anti-TIGIT antibody, which is in Phase 2 and Phase 3 clinical trial; and AB308, an investigational anti-TIGIT monoclonal antibody, which is in Phase 1b clinical trial to study people with advanced solid and hematologic malignancies.