Barclays Boosts Arcus Biosciences (NYSE:RCUS) Price Target to $29.00

Arcus Biosciences (NYSE:RCUS) had its price target raised by investment analysts at Barclays from $25.00 to $29.00 in a research note issued on Friday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s price target would suggest a potential upside of 69.69% from the company’s current price.

Other research analysts have also issued reports about the company. Wedbush reissued an “outperform” rating and issued a $30.00 price objective on shares of Arcus Biosciences in a research report on Thursday, October 3rd. Cantor Fitzgerald restated an “overweight” rating on shares of Arcus Biosciences in a report on Thursday, October 3rd. Wells Fargo & Company started coverage on shares of Arcus Biosciences in a research note on Tuesday, October 8th. They issued an “overweight” rating and a $29.00 price objective for the company. HC Wainwright initiated coverage on Arcus Biosciences in a report on Monday. They issued a “neutral” rating and a $20.00 target price on the stock. Finally, Evercore ISI upgraded shares of Arcus Biosciences to a “strong-buy” rating in a report on Friday, August 9th. One investment analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned 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 an average price target of $33.67.

Arcus Biosciences Price Performance

NYSE RCUS traded down $0.74 on Friday, reaching $17.09. The company had a trading volume of 274,710 shares, compared to its average volume of 725,352. The firm has a market cap of $1.55 billion, a price-to-earnings ratio of -5.50 and a beta of 0.88. The business has a 50 day moving average of $16.89 and a two-hundred day moving average of $16.05. Arcus Biosciences has a fifty-two week low of $12.95 and a fifty-two week high of $20.31.

Arcus Biosciences (NYSE:RCUS) last released its quarterly earnings results on Thursday, August 8th. The company reported ($1.02) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($1.02). Arcus Biosciences had a negative net margin of 100.81% and a negative return on equity of 42.86%. The firm had revenue of $39.00 million during the quarter, compared to analyst estimates of $26.24 million. During the same quarter last year, the business earned ($1.04) EPS. The company’s revenue was up 34.5% compared to the same quarter last year. As a group, research analysts predict that Arcus Biosciences will post -3.25 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Arcus Biosciences

Institutional investors have recently added to or reduced their stakes in the company. Nordea Investment Management AB lifted its position in shares of Arcus Biosciences by 26.3% during the 1st quarter. Nordea Investment Management AB now owns 259,372 shares of the company’s stock worth $4,892,000 after buying an additional 53,944 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Arcus Biosciences by 2.4% in the first quarter. Vanguard Group Inc. now owns 4,791,244 shares of the company’s stock valued at $90,459,000 after purchasing an additional 110,528 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in shares of Arcus Biosciences by 8.7% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 744,298 shares of the company’s stock worth $11,336,000 after acquiring an additional 59,273 shares during the period. SG Americas Securities LLC grew its position in shares of Arcus Biosciences by 1,396.1% in the second quarter. SG Americas Securities LLC now owns 129,292 shares of the company’s stock valued at $1,969,000 after purchasing an additional 120,650 shares in the last quarter. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of Arcus Biosciences during the 2nd quarter valued at $1,286,000. 92.89% of the stock is 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.