Arcus Biosciences (NYSE:RCUS) Upgraded to “Buy” at HC Wainwright

HC Wainwright upgraded shares of Arcus Biosciences (NYSE:RCUS) from a neutral rating to a buy rating in a report published on Wednesday morning, MarketBeat reports. HC Wainwright currently has $24.00 price objective on the stock, up from their prior price objective of $18.00.

Several other research analysts have also recently issued reports on RCUS. Wedbush restated an “outperform” rating and issued a $36.00 target price on shares of Arcus Biosciences in a report on Thursday, November 7th. Morgan Stanley cut their target price on shares of Arcus Biosciences from $36.00 to $25.00 and set an “overweight” rating on the stock in a report on Tuesday, February 18th. Finally, Bank of America dropped their price target on Arcus Biosciences from $22.00 to $17.00 and set a “neutral” rating for the company in a research note on Wednesday, February 19th. One research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Arcus Biosciences has an average rating of “Buy” and a consensus target price of $30.25.

Arcus Biosciences Stock Down 0.8 %

Shares of Arcus Biosciences stock opened at $10.16 on Wednesday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 5.24 and a current ratio of 5.24. Arcus Biosciences has a 52-week low of $9.92 and a 52-week high of $20.31. The stock has a market capitalization of $1.07 billion, a price-to-earnings ratio of -3.22 and a beta of 0.84. The company’s 50 day moving average price is $13.57 and its 200-day moving average price is $15.46.

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

Insider Buying and Selling

In other Arcus Biosciences news, CFO Robert C. Goeltz II sold 3,594 shares of the firm’s stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $15.00, for a total transaction of $53,910.00. Following the completion of the transaction, the chief financial officer now owns 60,138 shares of the company’s stock, valued at approximately $902,070. This trade represents a 5.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 12.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Arcus Biosciences

Several institutional investors and hedge funds have recently added to or reduced their stakes in RCUS. R Squared Ltd purchased a new position in Arcus Biosciences during the fourth quarter valued at $26,000. Point72 Hong Kong Ltd bought a new stake in shares of Arcus Biosciences during the 3rd quarter valued at about $47,000. Lazard Asset Management LLC grew its stake in shares of Arcus Biosciences by 3,321.3% during the 4th quarter. Lazard Asset Management LLC now owns 6,261 shares of the company’s stock valued at $93,000 after purchasing an additional 6,078 shares during the period. US Bancorp DE grew its stake in shares of Arcus Biosciences by 2,432.0% during the 4th quarter. US Bancorp DE now owns 6,887 shares of the company’s stock valued at $103,000 after purchasing an additional 6,615 shares during the period. Finally, Quest Partners LLC grew its stake in shares of Arcus Biosciences by 40,904.3% during the 3rd quarter. Quest Partners LLC now owns 9,431 shares of the company’s stock valued at $144,000 after purchasing an additional 9,408 shares during the period. 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.