Arcus Biosciences (NYSE:RCUS) Rating Reiterated by Wedbush

Arcus Biosciences (NYSE:RCUS)‘s stock had its “outperform” rating reaffirmed by stock analysts at Wedbush in a research report issued on Friday, Benzinga reports. They presently have a $30.00 price target on the stock. Wedbush’s price target would indicate a potential upside of 92.18% from the stock’s current price.

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

Arcus Biosciences Price Performance

Shares of Arcus Biosciences stock traded up $1.92 on Friday, hitting $15.61. 827,381 shares of the company’s stock traded hands, compared to its average volume of 513,982. Arcus Biosciences has a one year low of $12.95 and a one year high of $25.47. The company has a fifty day moving average of $15.30 and a two-hundred day moving average of $16.24. The company has a market capitalization of $1.42 billion, a price-to-earnings ratio of -5.02 and a beta of 0.90.

Arcus Biosciences (NYSE:RCUS) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($1.02) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($1.02). The business had revenue of $39.00 million for the quarter, compared to analyst estimates 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 prior year, the company earned ($1.04) earnings per share. Equities research analysts anticipate that Arcus Biosciences will post -3.07 earnings per share for the current year.

Hedge Funds Weigh In On Arcus Biosciences

Institutional investors and hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC bought a new position in Arcus Biosciences during the fourth quarter valued at $31,000. Spartan Fund Management Inc. bought a new position in Arcus Biosciences during the first quarter valued at $38,000. Headlands Technologies LLC bought a new position in Arcus Biosciences during the first quarter valued at $59,000. Quest Partners LLC bought a new position in shares of Arcus Biosciences in the fourth quarter worth $77,000. Finally, Cape Investment Advisory Inc. purchased a new position in shares of Arcus Biosciences in the fourth quarter valued at $77,000. 92.89% of the stock is owned by institutional investors.

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.