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

Arcus Biosciences (NYSE:RCUS)‘s stock had its “outperform” rating restated by equities research analysts at Wedbush in a research note issued to investors on Thursday,RTT News reports. They presently have a $36.00 target price on the stock. Wedbush’s target price would suggest a potential upside of 101.68% from the stock’s current price.

RCUS has been the subject of several other reports. HC Wainwright reissued a “neutral” rating and set a $20.00 price objective on shares of Arcus Biosciences in a research note on Wednesday. Evercore ISI raised Arcus Biosciences to a “strong-buy” rating in a research report on Friday, August 9th. Wells Fargo & Company started coverage on Arcus Biosciences in a report on Tuesday, October 8th. They issued an “overweight” rating and a $29.00 price objective on the stock. Cantor Fitzgerald reiterated an “overweight” rating on shares of Arcus Biosciences in a report on Thursday, October 3rd. Finally, Barclays increased their target price on shares of Arcus Biosciences from $25.00 to $29.00 and gave the stock 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 issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $34.13.

Arcus Biosciences Price Performance

RCUS opened at $17.85 on Thursday. Arcus Biosciences has a 12 month low of $12.95 and a 12 month high of $20.31. The business has a 50-day moving average of $16.61 and a two-hundred day moving average of $16.06. The stock has a market capitalization of $1.63 billion, a price-to-earnings ratio of -5.67 and a beta of 0.89.

Arcus Biosciences (NYSE:RCUS) last released its earnings results on Wednesday, November 6th. The company reported ($1.00) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.06) by $0.06. Arcus Biosciences had a negative net margin of 102.66% and a negative return on equity of 44.90%. The business had revenue of $48.00 million for the quarter, compared to analysts’ expectations of $38.95 million. During the same period last year, the company earned ($0.94) earnings per share. The company’s quarterly revenue was up 50.0% on a year-over-year basis. Equities research analysts anticipate that Arcus Biosciences will post -3.25 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in RCUS. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in Arcus Biosciences by 25.1% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 931,048 shares of the company’s stock worth $14,236,000 after buying an additional 186,750 shares in the last quarter. SG Americas Securities LLC lifted its stake in shares of Arcus Biosciences by 1,396.1% in the second quarter. SG Americas Securities LLC now owns 129,292 shares of the company’s stock worth $1,969,000 after acquiring an additional 120,650 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Arcus Biosciences by 2.4% in the first quarter. Vanguard Group Inc. now owns 4,791,244 shares of the company’s stock worth $90,459,000 after acquiring an additional 110,528 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new position in Arcus Biosciences in the second quarter valued at about $1,286,000. Finally, XTX Topco Ltd acquired a new stake in Arcus Biosciences during the 2nd quarter valued at approximately $590,000. 92.89% of the stock is currently 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.