Arcus Biosciences (NYSE:RCUS) PT Raised to $29.00

Arcus Biosciences (NYSE:RCUS) had its price objective increased by Barclays from $25.00 to $29.00 in a research report report published on Friday morning, Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other brokerages have also issued reports on RCUS. Evercore ISI upgraded shares of Arcus Biosciences to a “strong-buy” rating in a research note on Friday, August 9th. Cantor Fitzgerald reissued an “overweight” rating on shares of Arcus Biosciences in a research report on Thursday, October 3rd. HC Wainwright started coverage on shares of Arcus Biosciences in a research report on Monday, October 21st. They set a “neutral” rating and a $20.00 price target on the stock. Wells Fargo & Company began coverage on Arcus Biosciences in a research note on Tuesday, October 8th. They issued an “overweight” rating and a $29.00 price target for the company. Finally, Wedbush restated an “outperform” rating and set a $30.00 price objective 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 issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $33.67.

Arcus Biosciences Price Performance

Shares of RCUS stock opened at $16.32 on Friday. The company’s fifty day moving average price is $16.90 and its two-hundred day moving average price is $16.03. The firm has a market capitalization of $1.48 billion, a P/E ratio of -5.25 and a beta of 0.88. Arcus Biosciences has a 12 month low of $12.95 and a 12 month high of $20.31.

Arcus Biosciences (NYSE:RCUS) last issued 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). Arcus Biosciences had a negative return on equity of 42.86% and a negative net margin of 100.81%. The firm had revenue of $39.00 million during the quarter, compared to analyst estimates of $26.24 million. During the same quarter last year, the firm earned ($1.04) EPS. Arcus Biosciences’s quarterly revenue was up 34.5% on a year-over-year basis. On average, sell-side analysts anticipate that Arcus Biosciences will post -3.25 EPS for the current year.

Hedge Funds Weigh In On Arcus Biosciences

Institutional investors have recently made changes to their positions in the stock. Headlands Technologies LLC bought a new stake in shares of Arcus Biosciences in the 1st quarter worth approximately $59,000. Innealta Capital LLC bought a new stake in Arcus Biosciences in the second quarter valued at $66,000. Point72 DIFC Ltd acquired a new position in shares of Arcus Biosciences during the second quarter valued at $83,000. ProShare Advisors LLC grew its position in shares of Arcus Biosciences by 7.4% during the first quarter. ProShare Advisors LLC now owns 10,846 shares of the company’s stock worth $205,000 after acquiring an additional 746 shares during the last quarter. Finally, Diversified Trust Co acquired a new stake in shares of Arcus Biosciences in the 1st quarter worth about $228,000. 92.89% of the stock is 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.