Arcus Biosciences (NYSE:RCUS) Receives "Neutral" Rating from HC Wainwright

HC Wainwright reaffirmed their neutral rating on shares of Arcus Biosciences (NYSE:RCUS - Free Report) in a research report released on Wednesday morning, Benzinga reports. HC Wainwright currently has a $20.00 price objective on the stock.

A number of other research analysts have also weighed in on the company. Wells Fargo & Company began coverage on Arcus Biosciences in a research report on Tuesday, October 8th. They set an "overweight" rating and a $29.00 price objective for the company. Evercore ISI raised shares of Arcus Biosciences to a "strong-buy" rating in a report on Friday, August 9th. Wedbush reissued an "outperform" rating and set a $30.00 price objective on shares of Arcus Biosciences in a research note on Thursday, October 3rd. Barclays increased their target price on shares of Arcus Biosciences from $25.00 to $29.00 and gave the company an "overweight" rating in a research note on Friday, October 25th. Finally, Cantor Fitzgerald reiterated an "overweight" rating on shares of Arcus Biosciences in a research note on Thursday, October 3rd. One investment analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $33.67.

Arcus Biosciences Price Performance

Shares of NYSE RCUS traded up $0.55 during midday trading on Wednesday, hitting $15.84. 580,959 shares of the company traded hands, compared to its average volume of 724,438. Arcus Biosciences has a 12-month low of $12.95 and a 12-month high of $20.31. The stock has a 50-day moving average price of $16.64 and a 200 day moving average price of $16.03.

Arcus Biosciences (NYSE:RCUS - Get Free Report) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($1.02) EPS for the quarter, hitting the consensus estimate of ($1.02). The company had revenue of $39.00 million during the quarter, compared to analyst estimates of $26.24 million. Arcus Biosciences had a negative return on equity of 42.86% and a negative net margin of 100.81%. Arcus Biosciences's revenue was up 34.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($1.04) earnings per share. On average, sell-side analysts expect that Arcus Biosciences will post -3.25 earnings per share for the current year.

Institutional Investors Weigh In On Arcus Biosciences

A number of hedge funds have recently modified their holdings of RCUS. Louisiana State Employees Retirement System raised its stake in Arcus Biosciences by 2.6% during the second quarter. Louisiana State Employees Retirement System now owns 27,500 shares of the company's stock worth $419,000 after purchasing an additional 700 shares during the period. ProShare Advisors LLC boosted its holdings in shares of Arcus Biosciences by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 10,846 shares of the company's stock valued at $205,000 after buying an additional 746 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in Arcus Biosciences by 9.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 12,940 shares of the company's stock worth $244,000 after acquiring an additional 1,090 shares in the last quarter. Diversified Trust Co grew its holdings in shares of Arcus Biosciences by 12.1% during the second quarter. Diversified Trust Co now owns 13,545 shares of the company's stock worth $206,000 after purchasing an additional 1,467 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in Arcus Biosciences by 5.6% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 32,356 shares of the company's stock worth $583,000 after buying an additional 1,702 shares during the last quarter. 92.89% of the stock is currently owned by institutional investors and hedge funds.

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.