Arcus Biosciences (NYSE:RCUS) Stock Rating Reaffirmed by Cantor Fitzgerald

Arcus Biosciences (NYSE:RCUS)‘s stock had its “overweight” rating restated by research analysts at Cantor Fitzgerald in a report released on Thursday, Benzinga reports.

RCUS has been the topic of a number of other research reports. Wedbush reaffirmed an “outperform” rating and issued a $30.00 target price on shares of Arcus Biosciences in a report on Thursday. Barclays cut their target price on Arcus Biosciences from $35.00 to $25.00 and set an “overweight” rating for the company in a research report on Monday, July 8th. Truist Financial cut their price objective on Arcus Biosciences from $50.00 to $44.00 and set a “buy” rating for the company in a research report on Monday, June 24th. Finally, Evercore ISI raised Arcus Biosciences to a “strong-buy” rating in a research note on Friday, August 9th. Seven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Arcus Biosciences currently has a consensus rating of “Buy” and an average target price of $35.71.

Arcus Biosciences Stock Up 0.1 %

Shares of RCUS traded up $0.01 during midday trading on Thursday, reaching $15.40. 25,277 shares of the stock were exchanged, compared to its average volume of 711,608. Arcus Biosciences has a 12-month low of $12.95 and a 12-month high of $20.31. The firm has a 50 day simple moving average of $16.15 and a 200-day simple moving average of $16.05. The company has a market cap of $1.41 billion, a price-to-earnings ratio of -4.95 and a beta of 0.90.

Arcus Biosciences (NYSE:RCUS) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($1.02) EPS for the quarter, meeting analysts’ consensus estimates of ($1.02). The business had revenue of $39.00 million for the quarter, compared to analyst estimates of $26.24 million. Arcus Biosciences had a negative return on equity of 42.86% and a negative net margin of 100.81%. The firm’s revenue for the quarter was up 34.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($1.04) EPS. Research analysts expect that Arcus Biosciences will post -3.03 earnings per share for the current fiscal year.

Institutional Trading of Arcus Biosciences

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in Arcus Biosciences by 4.2% in the 4th quarter. Vanguard Group Inc. now owns 4,680,716 shares of the company’s stock valued at $89,402,000 after purchasing an additional 186,898 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in Arcus Biosciences by 26.9% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 685,025 shares of the company’s stock valued at $12,933,000 after purchasing an additional 145,298 shares during the period. SG Americas Securities LLC boosted its stake in Arcus Biosciences by 1,396.1% in the 2nd quarter. SG Americas Securities LLC now owns 129,292 shares of the company’s stock valued at $1,969,000 after purchasing an additional 120,650 shares during the period. Cubist Systematic Strategies LLC bought a new stake in Arcus Biosciences in the 2nd quarter valued at $1,286,000. Finally, Nordea Investment Management AB boosted its stake in Arcus Biosciences by 26.3% in the 1st quarter. Nordea Investment Management AB now owns 259,372 shares of the company’s stock valued at $4,892,000 after purchasing an additional 53,944 shares during the period. 92.89% of the stock is currently 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.