HC Wainwright Initiates Coverage on Arcus Biosciences (NYSE:RCUS)

Equities researchers at HC Wainwright started coverage on shares of Arcus Biosciences (NYSE:RCUS) in a report released on Monday, Marketbeat reports. The brokerage set a “neutral” rating and a $20.00 price target on the stock. HC Wainwright’s target price indicates a potential upside of 19.05% from the stock’s previous close.

A number of other analysts have also issued reports on the stock. Cantor Fitzgerald reiterated an “overweight” rating on shares of Arcus Biosciences in a research note on Thursday, October 3rd. Wells Fargo & Company assumed coverage on shares of Arcus Biosciences in a research note on Tuesday, October 8th. They set an “overweight” rating and a $29.00 price target on the stock. Truist Financial cut their price objective on shares of Arcus Biosciences from $50.00 to $44.00 and set a “buy” rating on the stock in a report on Monday, June 24th. Wedbush restated an “outperform” rating and set a $30.00 target price on shares of Arcus Biosciences in a research note on Thursday, October 3rd. Finally, Barclays cut their price target 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. 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’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $33.22.

Arcus Biosciences Trading Down 1.0 %

Shares of NYSE RCUS opened at $16.80 on Monday. The stock has a fifty day moving average price of $16.77 and a 200 day moving average price of $16.03. Arcus Biosciences has a 12-month low of $12.95 and a 12-month high of $20.31. The company has a market cap of $1.54 billion, a P/E ratio of -5.44 and a beta of 0.88.

Arcus Biosciences (NYSE:RCUS) last posted its earnings results on Thursday, August 8th. The company reported ($1.02) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($1.02). The business had revenue of $39.00 million during 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 company’s revenue for the quarter was up 34.5% compared to the same quarter last year. During the same quarter last year, the firm earned ($1.04) earnings per share. On average, sell-side analysts forecast that Arcus Biosciences will post -3.26 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Arcus Biosciences by 4.2% during the fourth quarter. Vanguard Group Inc. now owns 4,680,716 shares of the company’s stock worth $89,402,000 after purchasing an additional 186,898 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in shares of Arcus Biosciences by 26.9% during 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 buying an additional 145,298 shares during the last quarter. SG Americas Securities LLC raised its stake in Arcus Biosciences by 1,396.1% during 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 during the period. Cubist Systematic Strategies LLC bought a new position in Arcus Biosciences in the second quarter worth about $1,286,000. Finally, Nordea Investment Management AB lifted its holdings in 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 acquiring an additional 53,944 shares during the last quarter. Institutional investors own 92.89% of the company’s stock.

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.