Barclays Increases Arcus Biosciences (NYSE:RCUS) Price Target to $29.00

Arcus Biosciences (NYSE:RCUS) had its target price boosted by Barclays from $25.00 to $29.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s target price points to a potential upside of 77.70% from the stock’s current price.

Several other research analysts have also commented on the company. Wedbush reissued an “outperform” rating and set a $30.00 price objective on shares of Arcus Biosciences in a report on Thursday, October 3rd. Wells Fargo & Company started coverage on shares of Arcus Biosciences in a research report on Tuesday, October 8th. They set an “overweight” rating and a $29.00 target price for the company. HC Wainwright assumed coverage on shares of Arcus Biosciences in a report on Monday, October 21st. They issued a “neutral” rating and a $20.00 price target on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arcus Biosciences in a report on Thursday, October 3rd. Finally, Evercore ISI upgraded shares of Arcus Biosciences to a “strong-buy” rating in a research report on Friday, August 9th. One research analyst has rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Arcus Biosciences has an average rating of “Buy” and a consensus price target of $33.67.

Arcus Biosciences Price Performance

NYSE RCUS opened at $16.32 on Friday. The company’s 50 day simple moving average is $16.90 and its two-hundred day simple moving average is $16.04. Arcus Biosciences has a 1 year low of $12.95 and a 1 year high of $20.31. The stock has a market capitalization of $1.48 billion, a PE ratio of -5.25 and a beta of 0.88.

Arcus Biosciences (NYSE:RCUS) last released its quarterly earnings results on Thursday, August 8th. The company reported ($1.02) earnings per share for the quarter, hitting the consensus estimate of ($1.02). The firm had revenue of $39.00 million for the quarter, compared to analysts’ expectations of $26.24 million. Arcus Biosciences had a negative net margin of 100.81% and a negative return on equity of 42.86%. The business’s quarterly revenue was up 34.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($1.04) earnings per share. On average, research analysts anticipate that Arcus Biosciences will post -3.25 EPS for the current year.

Institutional Trading of Arcus Biosciences

Several institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in shares of 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 acquiring an additional 186,898 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in 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 purchasing an additional 145,298 shares during the last quarter. SG Americas Securities LLC lifted its position in Arcus Biosciences by 1,396.1% in the second 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 last quarter. Cubist Systematic Strategies LLC purchased a new stake in shares of Arcus Biosciences during the second quarter valued at approximately $1,286,000. Finally, Nordea Investment Management AB grew its holdings in shares of Arcus Biosciences by 26.3% in the first quarter. Nordea Investment Management AB now owns 259,372 shares of the company’s stock worth $4,892,000 after purchasing an additional 53,944 shares during the last quarter. 92.89% of the stock is currently owned by hedge funds and other 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.