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

Key Points

• Truist Financial upgraded Arcus Biosciences (NYSE:RCUS) to a "Strong-Buy", while MarketBeat shows a consensus analyst rating of "Moderate Buy" with a consensus price target of $32.44.
• Arcus beat recent quarterly estimates (EPS of ($0.89) vs. ($1.11) expected; revenue $33.0M vs. $24.94M) but remains unprofitable, and its stock trades around $26.05 with a $3.27B market cap and a 52-week range of $7.06–$28.72.
• Institutional investors hold about 92.9% of the shares, and Arcus is a clinical-stage biotech focused on immuno-oncology programs including etrumadenant (A2A antagonist) and domvanalimab (anti-TIGIT).

Arcus Biosciences (NYSE:RCUS - Get Free Report) was upgraded by research analysts at Truist Financial to a "strong-buy" rating in a research note issued on Monday,Zacks.com reports.

RCUS has been the topic of a number of other research reports. Wedbush upped their price target on shares of Arcus Biosciences from $37.00 to $41.00 and gave the company an "outperform" rating in a research note on Thursday, April 2nd. Leerink Partners set a $47.00 price target on shares of Arcus Biosciences in a research note on Monday, April 20th. The Goldman Sachs Group upgraded shares of Arcus Biosciences from a "neutral" rating to a "buy" rating and upped their price target for the company from $16.00 to $28.00 in a research note on Monday, January 12th. Wall Street Zen raised Arcus Biosciences from a "sell" rating to a "hold" rating in a report on Saturday, February 28th. Finally, HC Wainwright reissued a "buy" rating and issued a $32.00 price objective on shares of Arcus Biosciences in a report on Monday, March 2nd. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $32.44.

Arcus Biosciences Trading Up 1.4%

Arcus Biosciences stock opened at $26.05 on Monday. The stock has a 50-day moving average of $22.55 and a two-hundred day moving average of $21.91. The company has a debt-to-equity ratio of 0.16, a quick ratio of 4.36 and a current ratio of 4.36. Arcus Biosciences has a one year low of $7.06 and a one year high of $28.72. The stock has a market cap of $3.27 billion, a PE ratio of -7.89 and a beta of 0.87.

Arcus Biosciences (NYSE:RCUS - Get Free Report) last released its quarterly earnings results on Wednesday, February 25th. The company reported ($0.89) EPS 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 company had revenue of $33.00 million during the quarter, compared to analysts' expectations of $24.94 million. During the same period last year, the business posted ($1.03) earnings per share. The firm's revenue was down 8.3% compared to the same quarter last year. On average, research analysts anticipate that Arcus Biosciences will post -3.73 EPS for the current fiscal year.

Institutional Investors Weigh In On Arcus Biosciences

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RCUS. Hantz Financial Services Inc. increased its stake in Arcus Biosciences by 121.9% during the fourth quarter. Hantz Financial Services Inc. now owns 1,604 shares of the company's stock worth $38,000 after acquiring an additional 881 shares during the last quarter. SBI Securities Co. Ltd. increased its stake in Arcus Biosciences by 13,547.6% during the third quarter. SBI Securities Co. Ltd. now owns 2,866 shares of the company's stock worth $39,000 after acquiring an additional 2,845 shares during the last quarter. T. Rowe Price Investment Management Inc. acquired a new stake in Arcus Biosciences during the fourth quarter worth $39,000. Strs Ohio acquired a new stake in shares of Arcus Biosciences in the first quarter valued at $67,000. Finally, Abich Financial Wealth Management LLC acquired a new stake in shares of Arcus Biosciences in the third quarter valued at $69,000. Institutional investors and hedge funds own 92.89% of the company's stock.

About Arcus Biosciences

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.

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