Arcus Biosciences’ (RCUS) “Outperform” Rating Reiterated at Wedbush

Wedbush reiterated their outperform rating on shares of Arcus Biosciences (NYSE:RCUS) in a report released on Thursday, Benzinga reports. The brokerage currently has a $30.00 target price on the stock.

RCUS has been the topic of a number of other research reports. Barclays lowered their price objective on Arcus Biosciences from $35.00 to $25.00 and set an overweight rating on the stock in a research note on Monday, July 8th. Truist Financial lowered their price target on shares of Arcus Biosciences from $50.00 to $44.00 and set a buy rating on the stock in a research report on Monday, June 24th. Cantor Fitzgerald restated an overweight rating on shares of Arcus Biosciences in a research report on Friday, August 9th. Finally, Evercore ISI upgraded shares of Arcus Biosciences to a strong-buy rating in a report on Friday, August 9th. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Arcus Biosciences currently has an average rating of Buy and a consensus price target of $35.71.

Arcus Biosciences Stock Up 8.8 %

Arcus Biosciences stock opened at $16.65 on Thursday. The company has a fifty day simple moving average of $16.17 and a 200-day simple moving average of $16.04. Arcus Biosciences has a 52-week low of $12.95 and a 52-week high of $20.31.

Arcus Biosciences (NYSE:RCUS) last released 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 company 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 100.81% and a negative return on equity of 42.86%. Arcus Biosciences’s quarterly revenue was up 34.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($1.04) EPS. Equities analysts anticipate that Arcus Biosciences will post -3.03 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Handelsbanken Fonder AB raised its stake in shares of Arcus Biosciences by 15.5% in the 3rd quarter. Handelsbanken Fonder AB now owns 22,300 shares of the company’s stock valued at $341,000 after acquiring an additional 3,000 shares during the period. Point72 DIFC Ltd acquired a new stake in Arcus Biosciences during the 2nd quarter worth approximately $83,000. Algert Global LLC lifted its holdings in Arcus Biosciences by 30.9% during the 2nd quarter. Algert Global LLC now owns 76,257 shares of the company’s stock worth $1,161,000 after buying an additional 17,999 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in Arcus Biosciences by 7.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 29,858 shares of the company’s stock valued at $455,000 after buying an additional 2,123 shares during the period. Finally, AQR Capital Management LLC grew its stake in shares of Arcus Biosciences by 67.9% in the second quarter. AQR Capital Management LLC now owns 24,524 shares of the company’s stock worth $374,000 after acquiring an additional 9,916 shares in the last quarter. Hedge funds and other institutional investors own 92.89% of the company’s stock.

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.