Arcus Biosciences (NYSE:RCUS) Stock Rating Reaffirmed by Wedbush

Arcus Biosciences (NYSE:RCUS)‘s stock had its “outperform” rating reiterated by equities research analysts at Wedbush in a research report issued on Friday, Benzinga reports. They currently have a $30.00 price objective on the stock. Wedbush’s price target suggests a potential upside of 96.34% from the stock’s current price.

Several other equities analysts have also weighed in on the stock. Citigroup lifted their target price on shares of Arcus Biosciences from $36.00 to $38.00 and gave the company a “buy” rating in a report on Monday, June 3rd. Barclays dropped their target price 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. Cantor Fitzgerald reissued an “overweight” rating on shares of Arcus Biosciences in a research note on Friday, July 5th. Finally, Truist Financial dropped their price objective on shares of Arcus Biosciences from $50.00 to $44.00 and set a “buy” rating for the company in a research note on Monday, June 24th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $38.11.

Arcus Biosciences Stock Performance

RCUS stock traded up $1.59 during midday trading on Friday, reaching $15.28. 131,052 shares of the company traded hands, compared to its average volume of 742,892. The firm has a market capitalization of $1.39 billion, a price-to-earnings ratio of -4.86 and a beta of 0.90. The business has a 50 day moving average of $15.29 and a 200-day moving average of $16.23. Arcus Biosciences has a 52-week low of $12.95 and a 52-week high of $25.47.

Arcus Biosciences (NYSE:RCUS) last announced its earnings results on Thursday, August 8th. The company reported ($1.02) EPS for the quarter, hitting analysts’ consensus estimates of ($1.02). The business had revenue of $39.00 million during the quarter, compared to the consensus estimate of $26.24 million. Arcus Biosciences had a negative net margin of 97.47% and a negative return on equity of 40.98%. The firm’s revenue was up 34.5% on a year-over-year basis. During the same period in the previous year, the company posted ($1.04) earnings per share. Research analysts anticipate that Arcus Biosciences will post -3.07 earnings per share for the current year.

Institutional Investors Weigh In On Arcus Biosciences

Several institutional investors have recently modified their holdings of the company. Decheng Capital LLC purchased a new position in shares of Arcus Biosciences during the fourth quarter worth about $16,613,000. Vanguard Group Inc. raised its stake in shares of Arcus Biosciences by 4.2% during the fourth 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. Dimensional Fund Advisors LP raised its position in Arcus Biosciences by 11.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,594,609 shares of the company’s stock worth $30,459,000 after buying an additional 158,094 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in Arcus Biosciences by 26.9% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 685,025 shares of the company’s stock worth $12,933,000 after purchasing an additional 145,298 shares during the period. Finally, Panagora Asset Management Inc. grew its stake in shares of Arcus Biosciences by 130.6% during the 4th quarter. Panagora Asset Management Inc. now owns 228,996 shares of the company’s stock worth $4,374,000 after purchasing an additional 129,697 shares during the period. 92.89% of the stock is owned by hedge funds and other 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.