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

Arcus Biosciences (NYSE:RCUS) was upgraded by HC Wainwright from a “neutral” rating to a “buy” rating in a research note issued to investors on Wednesday,Briefing.com Automated Import reports. The firm currently has a $24.00 target price on the stock, up from their previous target price of $18.00. HC Wainwright’s price objective suggests a potential upside of 134.03% from the company’s previous close.

Other research analysts have also issued reports about the stock. Wedbush reaffirmed an “outperform” rating and issued a $36.00 price target on shares of Arcus Biosciences in a research note on Thursday, November 7th. Morgan Stanley decreased their target price on Arcus Biosciences from $36.00 to $25.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 18th. Finally, Bank of America dropped their price target on Arcus Biosciences from $22.00 to $17.00 and set a “neutral” rating for the company in a research report on Wednesday, February 19th. One investment 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 stock. According to data from MarketBeat.com, Arcus Biosciences currently has a consensus rating of “Buy” and a consensus target price of $30.25.

Arcus Biosciences Stock Up 0.9 %

Arcus Biosciences stock opened at $10.26 on Wednesday. Arcus Biosciences has a 1-year low of $10.01 and a 1-year high of $20.31. The stock has a market capitalization of $1.08 billion, a price-to-earnings ratio of -3.26 and a beta of 0.84. The company has a debt-to-equity ratio of 0.08, a current ratio of 5.24 and a quick ratio of 5.24. The business has a fifty day moving average price of $13.67 and a 200-day moving average price of $15.50.

Arcus Biosciences (NYSE:RCUS) last issued its quarterly earnings results on Tuesday, February 25th. The company reported ($1.03) EPS for the quarter, topping analysts’ consensus estimates of ($1.17) by $0.14. Arcus Biosciences had a negative return on equity of 45.59% and a negative net margin of 102.66%. Equities research analysts forecast that Arcus Biosciences will post -3.15 EPS for the current fiscal year.

Insiders Place Their Bets

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

Institutional Trading of Arcus Biosciences

A number of hedge funds and other institutional investors have recently made changes to their positions in RCUS. Gilead Sciences Inc. acquired a new position in Arcus Biosciences in the fourth quarter valued at approximately $447,610,000. FMR LLC lifted its stake in shares of Arcus Biosciences by 6.9% in the 3rd quarter. FMR LLC now owns 4,467,557 shares of the company’s stock valued at $68,309,000 after purchasing an additional 286,766 shares during the last quarter. Woodline Partners LP grew its holdings in shares of Arcus Biosciences by 1.3% during the 4th quarter. Woodline Partners LP now owns 3,523,937 shares of the company’s stock worth $52,471,000 after purchasing an additional 45,497 shares during the period. Point72 Asset Management L.P. increased its position in shares of Arcus Biosciences by 32.9% during the 3rd quarter. Point72 Asset Management L.P. now owns 2,437,073 shares of the company’s stock worth $37,263,000 after purchasing an additional 603,222 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Arcus Biosciences by 11.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,702,302 shares of the company’s stock valued at $25,348,000 after buying an additional 178,351 shares during the period. Institutional investors and hedge funds own 92.89% of the company’s stock.

About Arcus Biosciences

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.