Arcus Biosciences (NYSE:RCUS) Given Outperform Rating at Wedbush

Wedbush reiterated their outperform rating on shares of Arcus Biosciences (NYSE:RCUS) in a report issued on Friday morning, Benzinga reports. They currently have a $30.00 price objective on the stock.

Several other equities analysts have also recently commented on the stock. Cantor Fitzgerald reissued an overweight rating on shares of Arcus Biosciences in a research report on Friday, July 5th. Truist Financial dropped their target price on shares of Arcus Biosciences from $50.00 to $44.00 and set a buy rating on the stock in a research report on Monday, June 24th. Barclays dropped their target price on shares of Arcus Biosciences from $35.00 to $25.00 and set an overweight rating on the stock in a research report on Monday, July 8th. Finally, Citigroup lifted their target price on shares of Arcus Biosciences from $36.00 to $38.00 and gave the stock a buy rating in a research report on Monday, June 3rd. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus price target of $38.11.

Arcus Biosciences Stock Up 14.0 %

RCUS stock traded up $1.92 during mid-day trading on Friday, reaching $15.61. 827,381 shares of the company traded hands, compared to its average volume of 513,982. The stock has a market cap of $1.42 billion, a price-to-earnings ratio of -5.02 and a beta of 0.90. Arcus Biosciences has a fifty-two week low of $12.95 and a fifty-two week high of $25.47. The firm’s 50 day moving average price is $15.30 and its 200 day moving average price is $16.24.

Arcus Biosciences (NYSE:RCUS) last released its quarterly earnings results on Thursday, August 8th. The company reported ($1.02) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($1.02). The business had revenue of $39.00 million during the quarter, compared to the consensus estimate of $26.24 million. Arcus Biosciences had a negative return on equity of 40.98% and a negative net margin of 97.47%. The company’s quarterly revenue was up 34.5% on a year-over-year basis. During the same quarter in the previous year, the business earned ($1.04) EPS. On average, analysts anticipate that Arcus Biosciences will post -3.07 EPS for the current fiscal year.

Institutional Investors Weigh In On Arcus Biosciences

Hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC bought a new stake in shares of Arcus Biosciences in the 4th quarter worth approximately $31,000. Spartan Fund Management Inc. purchased a new stake in shares of Arcus Biosciences during the first quarter worth $38,000. Headlands Technologies LLC purchased a new stake in shares of Arcus Biosciences during the first quarter worth $59,000. Quest Partners LLC purchased a new stake in shares of Arcus Biosciences during the fourth quarter worth $77,000. Finally, Cape Investment Advisory Inc. purchased a new stake in shares of Arcus Biosciences during the fourth quarter worth $77,000. Institutional investors own 92.89% of the company’s stock.

Arcus Biosciences Company Profile

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.