Arcus Biosciences (NYSE:RCUS) Upgraded at Wall Street Zen

Key Points

• Arcus Biosciences was upgraded from a "strong sell" to a "hold" rating by Wall Street Zen, indicating a more favorable outlook for the stock.
• Analysts have mixed views, with target prices ranging from $13.00 to $33.00, and a consensus rating of "Moderate Buy" with an average target price of $21.14.
• Despite a negative net margin, the company reported significant revenue growth of 310.3% year-over-year, with quarterly revenue reaching $160 million.

Wall Street Zen upgraded shares of Arcus Biosciences (NYSE:RCUS - Free Report) from a strong sell rating to a hold rating in a research report report published on Saturday morning.

Other research analysts also recently issued reports about the stock. Wedbush reissued an "outperform" rating and issued a $33.00 price target on shares of Arcus Biosciences in a report on Wednesday, May 7th. Morgan Stanley reduced their target price on shares of Arcus Biosciences from $24.00 to $22.00 and set an "overweight" rating on the stock in a report on Friday, May 9th. The Goldman Sachs Group dropped their price objective on Arcus Biosciences from $15.00 to $13.00 and set a "neutral" rating on the stock in a research report on Thursday, May 8th. Barclays dropped their target price on shares of Arcus Biosciences from $29.00 to $14.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 23rd. Finally, Wells Fargo & Company cut their price objective on Arcus Biosciences from $26.00 to $25.00 and set an "overweight" rating for the company in a research report on Thursday, August 7th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $21.14.

Arcus Biosciences Trading Up 4.8%

Shares of RCUS stock traded up $0.46 during trading hours on Friday, hitting $10.13. 273,216 shares of the company's stock traded hands, compared to its average volume of 1,032,151. The stock's 50 day simple moving average is $9.15 and its 200 day simple moving average is $9.39. The stock has a market cap of $1.08 billion, a PE ratio of -3.20 and a beta of 0.89. Arcus Biosciences has a 12 month low of $6.50 and a 12 month high of $18.98. The company has a quick ratio of 4.50, a current ratio of 4.50 and a debt-to-equity ratio of 0.18.

Arcus Biosciences (NYSE:RCUS - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported ($1.11) EPS for the quarter, beating analysts' consensus estimates of ($1.14) by $0.03. Arcus Biosciences had a negative net margin of 109.56% and a negative return on equity of 55.96%. The company had revenue of $160.00 million for the quarter, compared to analyst estimates of $32.86 million. During the same period in the prior year, the firm posted ($1.02) EPS. The company's quarterly revenue was up 310.3% on a year-over-year basis. On average, sell-side analysts anticipate that Arcus Biosciences will post -3.15 EPS for the current year.

Institutional Investors Weigh In On Arcus Biosciences

A number of institutional investors have recently made changes to their positions in RCUS. Gilead Sciences Inc. acquired a new stake in Arcus Biosciences in the fourth quarter valued at $447,610,000. Woodline Partners LP boosted its holdings in shares of Arcus Biosciences by 45.5% during the 1st quarter. Woodline Partners LP now owns 5,127,304 shares of the company's stock valued at $40,249,000 after acquiring an additional 1,603,367 shares in the last quarter. Boxer Capital Management LLC acquired a new stake in shares of Arcus Biosciences during the 4th quarter valued at $23,857,000. Vanguard Group Inc. increased its holdings in Arcus Biosciences by 24.1% in the first quarter. Vanguard Group Inc. now owns 6,687,800 shares of the company's stock valued at $52,499,000 after purchasing an additional 1,298,584 shares during the period. Finally, RA Capital Management L.P. acquired a new stake in Arcus Biosciences in the first quarter valued at $8,920,000. 92.89% of the stock is 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.