Arcus Biosciences (NYSE:RCUS) Earns Outperform Rating from Wedbush

Arcus Biosciences (NYSE:RCUS)‘s stock had its “outperform” rating reaffirmed by equities research analysts at Wedbush in a note issued to investors on Thursday,RTT News reports. They currently have a $36.00 target price on the stock. Wedbush’s target price points to a potential upside of 118.58% from the company’s previous close.

A number of other research analysts also recently commented on RCUS. Cantor Fitzgerald reissued an “overweight” rating on shares of Arcus Biosciences in a research report on Thursday, October 3rd. HC Wainwright reiterated a “neutral” rating and set a $20.00 price target on shares of Arcus Biosciences in a report on Wednesday. Wells Fargo & Company started coverage on Arcus Biosciences in a research report on Tuesday, October 8th. They set an “overweight” rating and a $29.00 price target on the stock. Barclays raised their price objective on Arcus Biosciences from $25.00 to $29.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Finally, Evercore ISI raised Arcus Biosciences to a “strong-buy” rating in a report on Friday, August 9th. One equities research 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 stock. According to MarketBeat, Arcus Biosciences currently has an average rating of “Buy” and an average price target of $34.33.

Arcus Biosciences Stock Performance

RCUS traded up $0.74 on Thursday, hitting $16.47. 2,495,273 shares of the company were exchanged, compared to its average volume of 734,657. The stock’s fifty day moving average is $16.61 and its 200-day moving average is $16.03. Arcus Biosciences has a 12 month low of $12.95 and a 12 month high of $20.31. The company has a market cap of $1.51 billion, a PE ratio of -5.33 and a beta of 0.89.

Arcus Biosciences (NYSE:RCUS) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($1.00) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.06) by $0.06. The company had revenue of $48.00 million for the quarter, compared to analysts’ expectations of $38.95 million. Arcus Biosciences had a negative return on equity of 42.86% and a negative net margin of 100.81%. The business’s revenue was up 50.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.94) EPS. As a group, equities research analysts expect that Arcus Biosciences will post -3.25 EPS for the current fiscal year.

Institutional Investors Weigh In On Arcus Biosciences

Hedge funds and other institutional investors have recently modified their holdings of the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in 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 worth $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 2nd quarter. SG Americas Securities LLC now owns 129,292 shares of the company’s stock worth $1,969,000 after purchasing an additional 120,650 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Arcus Biosciences by 2.4% in the first quarter. Vanguard Group Inc. now owns 4,791,244 shares of the company’s stock valued at $90,459,000 after buying an additional 110,528 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new stake in shares of Arcus Biosciences in the second quarter valued at approximately $1,286,000. Finally, XTX Topco Ltd acquired a new stake in Arcus Biosciences during the second quarter worth approximately $590,000. Institutional investors and hedge funds own 92.89% of the company’s stock.

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.