Arcus Biosciences’ (RCUS) Overweight Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their overweight rating on shares of Arcus Biosciences (NYSE:RCUS) in a research report released on Thursday morning, Benzinga reports.

RCUS has been the subject of a number of other research reports. Truist Financial decreased their price target on Arcus Biosciences from $50.00 to $44.00 and set a buy rating for the company in a report on Monday, June 24th. Barclays decreased their target price on shares of Arcus Biosciences from $35.00 to $25.00 and set an overweight rating for the company in a research note on Monday, July 8th. Wedbush reaffirmed an outperform rating and set a $30.00 price target on shares of Arcus Biosciences in a report on Thursday. Finally, Evercore ISI upgraded shares of Arcus Biosciences to a strong-buy rating in a report on Friday, August 9th. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of Buy and an average target price of $35.71.

Arcus Biosciences Stock Performance

NYSE:RCUS opened at $16.65 on Thursday. The firm’s fifty day simple moving average is $16.17 and its 200 day simple moving average is $16.04. Arcus Biosciences has a twelve month low of $12.95 and a twelve month high of $20.31.

Arcus Biosciences (NYSE:RCUS) last issued its quarterly earnings data 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 return on equity of 42.86% and a negative net margin of 100.81%. The company had revenue of $39.00 million for the quarter, compared to analysts’ expectations of $26.24 million. During the same quarter in the previous year, the firm posted ($1.04) earnings per share. The firm’s quarterly revenue was up 34.5% on a year-over-year basis. Sell-side analysts anticipate that Arcus Biosciences will post -3.03 earnings per share for the current year.

Hedge Funds Weigh In On Arcus Biosciences

Several large investors have recently modified their holdings of the stock. NEOS Investment Management LLC bought a new stake in Arcus Biosciences in the fourth quarter valued at about $213,000. Pennant Investors LP acquired a new position in shares of Arcus Biosciences in the 4th quarter worth approximately $453,000. Parkman Healthcare Partners LLC increased its holdings in shares of Arcus Biosciences by 20.7% in the 4th quarter. Parkman Healthcare Partners LLC now owns 247,664 shares of the company’s stock valued at $4,730,000 after acquiring an additional 42,555 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Arcus Biosciences by 4.2% during the 4th quarter. Vanguard Group Inc. now owns 4,680,716 shares of the company’s stock valued at $89,402,000 after acquiring an additional 186,898 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in shares of Arcus Biosciences by 51.6% during the 1st quarter. GAMMA Investing LLC now owns 2,427 shares of the company’s stock valued at $46,000 after acquiring an additional 826 shares in 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.