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

Arcus Biosciences (NYSE:RCUS) had its price objective lifted by equities research analysts at Barclays from $25.00 to $29.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s price target suggests a potential upside of 69.69% from the company’s previous close.

RCUS has been the topic of several other reports. Wells Fargo & Company initiated coverage on shares of Arcus Biosciences in a research note on Tuesday, October 8th. They set an “overweight” rating and a $29.00 price objective on the stock. Cantor Fitzgerald restated an “overweight” rating on shares of Arcus Biosciences in a research report on Thursday, October 3rd. Wedbush reissued an “outperform” rating and set a $30.00 price objective on shares of Arcus Biosciences in a report on Thursday, October 3rd. HC Wainwright assumed coverage on shares of Arcus Biosciences in a research report on Monday. They set a “neutral” rating and a $20.00 target price for the company. Finally, Evercore ISI upgraded Arcus Biosciences to a “strong-buy” rating in a report on Friday, August 9th. One equities research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $33.67.

Arcus Biosciences Trading Down 4.2 %

Arcus Biosciences stock traded down $0.74 during trading hours on Friday, reaching $17.09. 274,710 shares of the company were exchanged, compared to its average volume of 725,352. Arcus Biosciences has a 12 month low of $12.95 and a 12 month high of $20.31. 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 stock has a 50-day moving average of $16.89 and a 200 day moving average of $16.05.

Arcus Biosciences (NYSE:RCUS) last announced its earnings results on Thursday, August 8th. The company reported ($1.02) 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 for the quarter, compared to the consensus estimate of $26.24 million. During the same quarter last year, the firm posted ($1.04) EPS. The business’s quarterly revenue was up 34.5% on a year-over-year basis. As a group, research analysts forecast that Arcus Biosciences will post -3.25 EPS for the current year.

Institutional Investors Weigh In On Arcus Biosciences

Several large investors have recently made changes to their positions in RCUS. Vanguard Group Inc. raised its position in Arcus Biosciences by 4.2% during the fourth quarter. Vanguard Group Inc. now owns 4,680,716 shares of the company’s stock worth $89,402,000 after acquiring an additional 186,898 shares in the last quarter. Diversified Trust Co bought a new position in Arcus Biosciences during the first quarter worth about $228,000. Allspring Global Investments Holdings LLC boosted its stake in shares of 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 during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in Arcus Biosciences by 5.6% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 32,356 shares of the company’s stock valued at $583,000 after buying an additional 1,702 shares in the last quarter. Finally, Nordea Investment Management AB boosted its stake in shares of Arcus Biosciences by 26.3% in the first quarter. Nordea Investment Management AB now owns 259,372 shares of the company’s stock valued at $4,892,000 after buying an additional 53,944 shares during the period. Institutional investors and hedge funds own 92.89% of the company’s stock.

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.