HC Wainwright Upgrades Arcus Biosciences (NYSE:RCUS) to Buy

HC Wainwright upgraded shares of Arcus Biosciences (NYSE:RCUS) from a neutral rating to a buy rating in a research note issued to investors on Wednesday, Marketbeat.com reports. The firm currently has $24.00 price target on the stock, up from their previous price target of $18.00. HC Wainwright also issued estimates for Arcus Biosciences’ Q1 2025 earnings at ($1.12) EPS, Q2 2025 earnings at ($0.93) EPS, Q3 2025 earnings at ($0.97) EPS, Q4 2025 earnings at ($0.96) EPS, FY2025 earnings at ($3.97) EPS, FY2026 earnings at ($4.50) EPS, FY2027 earnings at ($4.67) EPS, FY2028 earnings at ($2.89) EPS and FY2029 earnings at ($1.96) EPS.

RCUS has been the topic of several other reports. Bank of America reduced their price target on Arcus Biosciences from $22.00 to $17.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 19th. Morgan Stanley reduced their price target on Arcus Biosciences from $36.00 to $25.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 18th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $36.00 price target on shares of Arcus Biosciences in a research note on Thursday, November 7th. One investment analyst has rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $30.25.

Arcus Biosciences Price Performance

Shares of Arcus Biosciences stock opened at $10.89 on Wednesday. The company has a quick ratio of 5.24, a current ratio of 5.24 and a debt-to-equity ratio of 0.08. The company has a market cap of $1.14 billion, a PE ratio of -3.46 and a beta of 0.84. The business has a 50 day moving average of $13.37 and a 200 day moving average of $15.40. Arcus Biosciences has a 52 week low of $9.85 and a 52 week high of $20.00.

Arcus Biosciences (NYSE:RCUS) last issued its quarterly earnings results on Tuesday, February 25th. The company reported ($1.03) earnings per share for the quarter, topping the consensus estimate of ($1.17) by $0.14. The company had revenue of $36.00 million for the quarter, compared to analysts’ expectations of $29.38 million. Arcus Biosciences had a negative return on equity of 45.59% and a negative net margin of 102.66%. As a group, equities research analysts forecast that Arcus Biosciences will post -3.15 earnings per share for the current year.

Insider Transactions at Arcus Biosciences

In other Arcus Biosciences news, Director Yasunori Kaneko acquired 20,000 shares of the company’s stock in a transaction that occurred on Thursday, February 27th. The shares were bought at an average cost of $10.06 per share, with a total value of $201,200.00. Following the completion of the transaction, the director now directly owns 28,400 shares of the company’s stock, valued at approximately $285,704. This represents a 238.10 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Terry J. Rosen acquired 19,800 shares of the company’s stock in a transaction that occurred on Thursday, February 27th. The shares were acquired at an average cost of $10.18 per share, for a total transaction of $201,564.00. Following the completion of the transaction, the chief executive officer now directly owns 2,554,160 shares of the company’s stock, valued at $26,001,348.80. The trade was a 0.78 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 12.30% of the company’s stock.

Institutional Investors Weigh In On Arcus Biosciences

Institutional investors have recently modified their holdings of the business. R Squared Ltd purchased a new stake in shares of Arcus Biosciences during the fourth quarter valued at $26,000. Point72 Hong Kong Ltd purchased a new stake in shares of Arcus Biosciences during the third quarter valued at $47,000. Lazard Asset Management LLC boosted its position in shares of Arcus Biosciences by 3,321.3% during the fourth quarter. Lazard Asset Management LLC now owns 6,261 shares of the company’s stock valued at $93,000 after buying an additional 6,078 shares during the last quarter. US Bancorp DE boosted its position in shares of Arcus Biosciences by 2,432.0% during the fourth quarter. US Bancorp DE now owns 6,887 shares of the company’s stock valued at $103,000 after buying an additional 6,615 shares during the last quarter. Finally, Quest Partners LLC lifted its holdings in Arcus Biosciences by 40,904.3% in the third quarter. Quest Partners LLC now owns 9,431 shares of the company’s stock valued at $144,000 after acquiring an additional 9,408 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.