Arcus Biosciences (NYSE:RCUS) Rating Increased to Strong-Buy at Truist Financial

Arcus Biosciences (NYSE:RCUS) was upgraded by stock analysts at Truist Financial to a “strong-buy” rating in a report issued on Monday,Zacks.com reports.

A number of other equities research analysts have also recently weighed in on RCUS. Citigroup lifted their price objective on Arcus Biosciences from $44.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, March 5th. Wells Fargo & Company set a $23.00 target price on Arcus Biosciences and gave the company an “equal weight” rating in a report on Thursday, February 12th. Morgan Stanley reiterated an “equal weight” rating and issued a $20.00 target price (down from $23.00) on shares of Arcus Biosciences in a report on Thursday, January 8th. Wall Street Zen raised shares of Arcus Biosciences from a “sell” rating to a “hold” rating in a report on Saturday, February 28th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Arcus Biosciences in a research note on Monday, April 20th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Arcus Biosciences currently has an average rating of “Moderate Buy” and an average price target of $32.44.

Arcus Biosciences Trading Up 1.4%

Shares of NYSE RCUS opened at $26.05 on Monday. Arcus Biosciences has a twelve month low of $7.06 and a twelve month high of $28.72. The company has a current ratio of 4.36, a quick ratio of 4.36 and a debt-to-equity ratio of 0.16. The stock has a fifty day simple moving average of $22.55 and a 200-day simple moving average of $21.91. The stock has a market capitalization of $3.27 billion, a PE ratio of -7.89 and a beta of 0.87.

Arcus Biosciences (NYSE:RCUS) last issued its quarterly earnings data on Wednesday, February 25th. The company reported ($0.89) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.11) by $0.22. Arcus Biosciences had a negative return on equity of 65.77% and a negative net margin of 142.91%.The business had revenue of $33.00 million during the quarter, compared to analysts’ expectations of $24.94 million. During the same period in the previous year, the firm posted ($1.03) earnings per share. The company’s revenue was down 8.3% on a year-over-year basis. On average, equities analysts forecast that Arcus Biosciences will post -3.73 earnings per share for the current year.

Institutional Trading of Arcus Biosciences

A number of institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC lifted its holdings in Arcus Biosciences by 17.5% during the 4th quarter. GAMMA Investing LLC now owns 3,230 shares of the company’s stock worth $77,000 after buying an additional 482 shares during the last quarter. Amalgamated Bank lifted its holdings in Arcus Biosciences by 3.9% during the 3rd quarter. Amalgamated Bank now owns 19,533 shares of the company’s stock worth $266,000 after buying an additional 736 shares during the last quarter. Creative Planning lifted its holdings in Arcus Biosciences by 2.7% during the 3rd quarter. Creative Planning now owns 29,629 shares of the company’s stock worth $403,000 after buying an additional 771 shares during the last quarter. Hantz Financial Services Inc. lifted its holdings in Arcus Biosciences by 121.9% during the 4th quarter. Hantz Financial Services Inc. now owns 1,604 shares of the company’s stock worth $38,000 after buying an additional 881 shares during the last quarter. Finally, New York State Teachers Retirement System lifted its holdings in Arcus Biosciences by 1.1% during the 4th quarter. New York State Teachers Retirement System now owns 92,431 shares of the company’s stock worth $2,203,000 after buying an additional 1,000 shares during the last quarter. 92.89% of the stock is owned by hedge funds and other institutional investors.

Arcus Biosciences Company Profile

Arcus Biosciences is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of novel cancer immunotherapies. The company’s research platform centers on modulating tumor microenvironments and immune checkpoints through both small-molecule and antibody-based candidates. Arcus aims to enhance antitumor immune responses by targeting pathways such as the adenosine axis and inhibitory receptors on immune cells.

The company’s lead clinical programs include etrumadenant, an orally administered A2A adenosine receptor antagonist being evaluated in combination with anti-PD-1 therapy, and domvanalimab, an anti-TIGIT monoclonal antibody.