Arcus Biosciences (NYSE:RCUS) Earns Neutral Rating from Analysts at HC Wainwright

HC Wainwright started coverage on shares of Arcus Biosciences (NYSE:RCUS) in a research note published on Monday, Marketbeat Ratings reports. The brokerage issued a neutral rating and a $20.00 price target on the stock. HC Wainwright also issued estimates for Arcus Biosciences’ Q3 2024 earnings at ($1.05) EPS, Q4 2024 earnings at ($1.08) EPS, FY2024 earnings at ($3.20) EPS, FY2025 earnings at ($3.31) EPS, FY2026 earnings at ($5.39) EPS, FY2027 earnings at ($5.51) EPS and FY2028 earnings at ($2.52) EPS.

RCUS has been the subject of a number of other research reports. 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. Evercore ISI upgraded shares of Arcus Biosciences to a “strong-buy” rating in a research note on Friday, August 9th. Wedbush reiterated an “outperform” rating and set a $30.00 price objective on shares of Arcus Biosciences in a research note on Thursday, October 3rd. Barclays decreased their price objective on shares of Arcus Biosciences from $35.00 to $25.00 and set an “overweight” rating for the company in a report on Monday, July 8th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Arcus Biosciences in a research note on Thursday, October 3rd. One equities research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $33.22.

Arcus Biosciences Trading Up 2.9 %

NYSE RCUS opened at $17.83 on Monday. The company’s fifty day simple moving average is $16.89 and its 200-day simple moving average is $16.05. The stock has a market cap of $1.63 billion, a P/E ratio of -5.77 and a beta of 0.88. Arcus Biosciences has a 52 week low of $12.95 and a 52 week high of $20.31.

Arcus Biosciences (NYSE:RCUS) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($1.02) earnings per share for the quarter, meeting analysts’ consensus estimates of ($1.02). The company had revenue of $39.00 million during the quarter, compared to analysts’ expectations of $26.24 million. Arcus Biosciences had a negative net margin of 100.81% and a negative return on equity of 42.86%. The firm’s revenue for the quarter was up 34.5% on a year-over-year basis. During the same period in the prior year, the company posted ($1.04) EPS. On average, research analysts expect that Arcus Biosciences will post -3.25 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of Arcus Biosciences by 4.2% in the 4th quarter. Vanguard Group Inc. now owns 4,680,716 shares of the company’s stock worth $89,402,000 after purchasing an additional 186,898 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in shares of Arcus Biosciences by 26.9% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 685,025 shares of the company’s stock valued at $12,933,000 after acquiring an additional 145,298 shares during the period. SG Americas Securities LLC grew its position in shares of Arcus Biosciences by 1,396.1% during the second quarter. SG Americas Securities LLC now owns 129,292 shares of the company’s stock worth $1,969,000 after acquiring an additional 120,650 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new stake in shares of Arcus Biosciences in the 2nd quarter worth about $1,286,000. Finally, Nordea Investment Management AB lifted its position in Arcus Biosciences by 26.3% in the 1st quarter. Nordea Investment Management AB now owns 259,372 shares of the company’s stock valued at $4,892,000 after purchasing an additional 53,944 shares during 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.