Arcus Biosciences (NYSE:RCUS) Research Coverage Started at Wells Fargo & Company

by · The Markets Daily

Analysts at Wells Fargo & Company began coverage on shares of Arcus Biosciences (NYSE:RCUS – Get Free Report) in a research note issued on Tuesday, Marketbeat reports. The brokerage set an “overweight” rating and a $29.00 price target on the stock. Wells Fargo & Company‘s price objective indicates a potential upside of 63.38% from the company’s current price.

RCUS has been the subject of a number of other reports. Truist Financial lowered their price target on shares of Arcus Biosciences from $50.00 to $44.00 and set a “buy” rating for the company in a report on Monday, June 24th. Evercore ISI upgraded Arcus Biosciences to a “strong-buy” rating in a research note on Friday, August 9th. 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. Wedbush restated an “outperform” rating and set a $30.00 price objective on shares of Arcus Biosciences in a research note on Thursday, October 3rd. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arcus Biosciences in a research report on Thursday, October 3rd. Eight research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $34.88.

View Our Latest Stock Report on RCUS

Arcus Biosciences Price Performance

Shares of NYSE RCUS opened at $17.75 on Tuesday. Arcus Biosciences has a 1-year low of $12.95 and a 1-year high of $20.31. The company has a market capitalization of $1.61 billion, a price-to-earnings ratio of -5.71 and a beta of 0.88. The business has a 50-day moving average of $16.26 and a 200-day moving average of $16.04.

Arcus Biosciences (NYSE:RCUS – Get Free Report) last released its quarterly earnings results on Thursday, August 8th. The company reported ($1.02) EPS for the quarter, hitting the consensus estimate of ($1.02). Arcus Biosciences had a negative return on equity of 42.86% and a negative net margin of 100.81%. The firm had revenue of $39.00 million for the quarter, compared to analyst estimates of $26.24 million. During the same period in the previous year, the company posted ($1.04) EPS. Arcus Biosciences’s revenue for the quarter was up 34.5% on a year-over-year basis. Research analysts expect that Arcus Biosciences will post -3.03 EPS for the current fiscal year.

Hedge Funds Weigh In On Arcus Biosciences

Several large investors have recently added to or reduced their stakes in RCUS. Louisiana State Employees Retirement System raised its holdings in shares of Arcus Biosciences by 2.6% during the second quarter. Louisiana State Employees Retirement System now owns 27,500 shares of the company’s stock worth $419,000 after purchasing an additional 700 shares during the period. ProShare Advisors LLC grew its position in shares of Arcus Biosciences by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 10,846 shares of the company’s stock valued at $205,000 after buying an additional 746 shares during the last quarter. GAMMA Investing LLC raised its stake in Arcus Biosciences by 51.6% during the first quarter. GAMMA Investing LLC now owns 2,427 shares of the company’s stock worth $46,000 after acquiring an additional 826 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in Arcus Biosciences by 9.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 12,940 shares of the company’s stock worth $244,000 after acquiring an additional 1,090 shares during the last quarter. Finally, Diversified Trust Co boosted its stake in Arcus Biosciences by 12.1% in the second quarter. Diversified Trust Co now owns 13,545 shares of the company’s stock valued at $206,000 after acquiring an additional 1,467 shares during the period. 92.89% of the stock is currently owned by institutional investors.

Arcus Biosciences Company Profile

(Get Free Report)

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.

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