Arcus Biosciences’ (RCUS) Outperform Rating Reiterated at Wedbush

by · The Cerbat Gem

Wedbush reissued their outperform rating on shares of Arcus Biosciences (NYSE:RCUS – Free Report) in a research note issued to investors on Thursday morning, Benzinga reports. The firm currently has a $30.00 price objective on the stock.

Other research analysts also recently issued reports about the stock. Barclays reduced their price target 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. Truist Financial cut their target price on shares of Arcus Biosciences from $50.00 to $44.00 and set a buy rating on the stock in a report on Monday, June 24th. Cantor Fitzgerald reiterated an overweight rating on shares of Arcus Biosciences in a research report on Friday, August 9th. Finally, Evercore ISI raised Arcus Biosciences to a strong-buy rating in a report on Friday, August 9th. Seven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of Buy and an average price target of $35.71.

View Our Latest Stock Analysis on RCUS

Arcus Biosciences Stock Up 8.8 %

Shares of Arcus Biosciences stock opened at $16.65 on Thursday. The business has a 50-day moving average price of $16.17 and a 200 day moving average price of $16.03. Arcus Biosciences has a fifty-two week low of $12.95 and a fifty-two week high of $20.31. The firm has a market cap of $1.52 billion, a P/E ratio of -5.35 and a beta of 0.88.

Arcus Biosciences (NYSE:RCUS – Get Free Report) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($1.02) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($1.02). Arcus Biosciences had a negative return on equity of 42.86% and a negative net margin of 100.81%. The business had revenue of $39.00 million for the quarter, compared to analyst estimates of $26.24 million. During the same period in the prior year, the company posted ($1.04) EPS. The business’s revenue was up 34.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Arcus Biosciences will post -3.03 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in RCUS. Louisiana State Employees Retirement System increased its holdings in shares of Arcus Biosciences by 2.6% during the second quarter. Louisiana State Employees Retirement System now owns 27,500 shares of the company’s stock valued at $419,000 after purchasing an additional 700 shares during the period. ProShare Advisors LLC increased its stake in Arcus Biosciences by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 10,846 shares of the company’s stock valued at $205,000 after buying an additional 746 shares during the period. GAMMA Investing LLC raised its position in shares of Arcus Biosciences by 51.6% during the 1st quarter. GAMMA Investing LLC now owns 2,427 shares of the company’s stock worth $46,000 after buying an additional 826 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of Arcus Biosciences by 9.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 12,940 shares of the company’s stock worth $244,000 after acquiring an additional 1,090 shares during the period. Finally, Diversified Trust Co boosted its holdings in shares of Arcus Biosciences by 12.1% in the second quarter. Diversified Trust Co now owns 13,545 shares of the company’s stock valued at $206,000 after acquiring an additional 1,467 shares in the last quarter. Institutional investors and hedge funds own 92.89% of the company’s stock.

Arcus Biosciences Company Profile

(Get Free Report)

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.

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