Cantor Fitzgerald Reiterates “Overweight” Rating for Arcus Biosciences (NYSE:RCUS)

Arcus Biosciences (NYSE:RCUS)‘s stock had its “overweight” rating reaffirmed by research analysts at Cantor Fitzgerald in a note issued to investors on Friday, Benzinga reports.

Several other brokerages have also recently issued reports on RCUS. Citigroup raised their target price on shares of Arcus Biosciences from $36.00 to $38.00 and gave the stock a “buy” rating in a report on Monday, June 3rd. Wedbush reissued an “outperform” rating and issued a $30.00 price target on shares of Arcus Biosciences in a report on Friday. Truist Financial decreased their price objective 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. Finally, Barclays dropped their target price on shares of Arcus Biosciences from $35.00 to $25.00 and set an “overweight” rating for the company in a report on Monday, July 8th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $38.11.

Arcus Biosciences Trading Up 14.0 %

Shares of RCUS stock traded up $1.92 during trading hours on Friday, hitting $15.61. 827,381 shares of the company’s stock were exchanged, compared to its average volume of 513,982. The company has a market capitalization of $1.42 billion, a PE ratio of -5.02 and a beta of 0.90. Arcus Biosciences has a 12-month low of $12.95 and a 12-month high of $25.47. The business’s 50 day simple moving average is $15.30 and its 200-day simple moving average is $16.24.

Arcus Biosciences (NYSE:RCUS) last issued its earnings results on Thursday, August 8th. The company reported ($1.02) EPS for the quarter, hitting analysts’ consensus estimates of ($1.02). Arcus Biosciences had a negative net margin of 97.47% and a negative return on equity of 40.98%. The company had revenue of $39.00 million for the quarter, compared to analysts’ expectations of $26.24 million. During the same quarter last year, the company earned ($1.04) EPS. The firm’s revenue was up 34.5% compared to the same quarter last year. Equities analysts anticipate that Arcus Biosciences will post -3.07 EPS for the current year.

Hedge Funds Weigh In On Arcus Biosciences

Institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC bought a new position in Arcus Biosciences in the fourth quarter worth about $31,000. Spartan Fund Management Inc. bought a new position in Arcus Biosciences in the first quarter worth about $38,000. Headlands Technologies LLC bought a new position in Arcus Biosciences in the first quarter worth about $59,000. Innealta Capital LLC bought a new position in Arcus Biosciences in the second quarter worth about $66,000. Finally, Cape Investment Advisory Inc. bought a new position in Arcus Biosciences in the fourth quarter worth about $77,000. 92.89% of the stock is owned by institutional investors.

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.