Arcus Biosciences (NYSE:RCUS) Rating Increased to Buy at HC Wainwright

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

Several other equities research analysts also recently commented on RCUS. Bank of America dropped their price objective on shares of Arcus Biosciences from $22.00 to $17.00 and set a “neutral” rating on the stock in a report on Wednesday, February 19th. Wedbush reissued an “outperform” rating and issued a $36.00 price target on shares of Arcus Biosciences in a report on Thursday, November 7th. Finally, Morgan Stanley lowered their price target 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. One analyst has rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $30.25.

Arcus Biosciences Stock Down 0.8 %

Arcus Biosciences stock opened at $10.16 on Wednesday. The company has a market capitalization of $1.07 billion, a PE ratio of -3.22 and a beta of 0.84. The firm’s fifty day moving average is $13.57 and its 200 day moving average is $15.46. The company has a quick ratio of 5.24, a current ratio of 5.24 and a debt-to-equity ratio of 0.08. Arcus Biosciences has a 12-month low of $9.92 and a 12-month high of $20.31.

Arcus Biosciences (NYSE:RCUS) last announced its quarterly earnings results on Tuesday, February 25th. The company reported ($1.03) EPS for the quarter, beating analysts’ consensus estimates of ($1.17) by $0.14. The business had revenue of $36.00 million during the quarter, compared to analyst estimates of $29.38 million. Arcus Biosciences had a negative net margin of 102.66% and a negative return on equity of 45.59%. As a group, sell-side analysts predict that Arcus Biosciences will post -3.15 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Robert C. Goeltz II sold 3,594 shares of the company’s stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $15.00, for a total value of $53,910.00. Following the transaction, the chief financial officer now directly owns 60,138 shares in the company, valued at approximately $902,070. This represents a 5.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 12.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of RCUS. GSA Capital Partners LLP increased its position in shares of Arcus Biosciences by 17.8% in the third quarter. GSA Capital Partners LLP now owns 187,415 shares of the company’s stock worth $2,866,000 after purchasing an additional 28,307 shares during the last quarter. Quest Partners LLC grew its position in Arcus Biosciences by 40,904.3% during the third quarter. Quest Partners LLC now owns 9,431 shares of the company’s stock valued at $144,000 after acquiring an additional 9,408 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in Arcus Biosciences by 25.1% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 931,048 shares of the company’s stock valued at $14,236,000 after acquiring an additional 186,750 shares during the last quarter. Intech Investment Management LLC bought a new position in Arcus Biosciences during the third quarter valued at approximately $244,000. Finally, Massachusetts Financial Services Co. MA grew its position in Arcus Biosciences by 39.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 80,889 shares of the company’s stock valued at $1,237,000 after acquiring an additional 22,716 shares during the last quarter. 92.89% of the stock is currently owned by institutional investors.

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.