Arcus Biosciences (NYSE:RCUS) Given Outperform Rating at Wedbush

Arcus Biosciences (NYSE:RCUS)‘s stock had its “outperform” rating restated by equities researchers at Wedbush in a report released on Thursday,RTT News reports. They presently have a $36.00 target price on the stock. Wedbush’s price objective would suggest a potential upside of 118.58% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the company. Cantor Fitzgerald reiterated an “overweight” rating on shares of Arcus Biosciences in a report on Thursday, October 3rd. HC Wainwright reaffirmed a “neutral” rating and issued a $20.00 target price on shares of Arcus Biosciences in a research note on Wednesday. Wells Fargo & Company initiated coverage on shares of Arcus Biosciences in a research note on Tuesday, October 8th. They set an “overweight” rating and a $29.00 price target for the company. Evercore ISI raised shares of Arcus Biosciences to a “strong-buy” rating in a report on Friday, August 9th. Finally, Barclays upped their target price on shares of Arcus Biosciences from $25.00 to $29.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. One research analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Arcus Biosciences has an average rating of “Buy” and a consensus price target of $34.33.

Arcus Biosciences Stock Performance

RCUS traded up $0.74 during midday trading on Thursday, hitting $16.47. The company had a trading volume of 2,495,273 shares, compared to its average volume of 734,657. Arcus Biosciences has a twelve month low of $12.95 and a twelve month high of $20.31. The company has a market capitalization of $1.51 billion, a PE ratio of -5.33 and a beta of 0.89. The firm’s 50-day simple moving average is $16.61 and its 200-day simple moving average is $16.03.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RCUS. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in shares of Arcus Biosciences by 26.9% in 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 buying an additional 145,298 shares during the period. SG Americas Securities LLC boosted 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 buying an additional 120,650 shares during the period. Vanguard Group Inc. grew its holdings in shares of Arcus Biosciences by 2.4% during the first quarter. Vanguard Group Inc. now owns 4,791,244 shares of the company’s stock worth $90,459,000 after buying an additional 110,528 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new stake in Arcus Biosciences in the 2nd quarter valued at approximately $1,286,000. Finally, XTX Topco Ltd bought a new stake in Arcus Biosciences in the 2nd quarter valued at approximately $590,000. 92.89% of the stock is currently 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.