Arcus Biosciences (RCUS) Now Covered by Wedbush

Wedbush started coverage on shares of Arcus Biosciences (NYSE:RCUS) in a research report sent to investors on Tuesday morning, MarketBeat.com reports. The firm issued an outperform rating and a $22.00 target price on the stock. Wedbush also issued estimates for Arcus Biosciences’ Q3 2018 earnings at ($0.42) EPS, Q4 2018 earnings at ($0.43) EPS, FY2018 earnings at ($2.53) EPS, FY2019 earnings at ($1.94) EPS, FY2020 earnings at ($2.17) EPS, FY2021 earnings at ($2.36) EPS and FY2022 earnings at ($1.96) EPS.

Separately, Zacks Investment Research lowered shares of Arcus Biosciences from a buy rating to a hold rating in a research report on Wednesday, September 19th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus target price of $18.60.

NYSE RCUS opened at $12.44 on Tuesday. Arcus Biosciences has a 52-week low of $10.80 and a 52-week high of $22.10.

Arcus Biosciences (NYSE:RCUS) last posted its quarterly earnings results on Monday, August 6th. The company reported ($0.32) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.40) by $0.08. The company had revenue of $1.25 million during the quarter, compared to analyst estimates of $1.30 million. Equities analysts expect that Arcus Biosciences will post -1.81 EPS for the current year.

In related news, CEO Terry J. Rosen purchased 9,929 shares of the firm’s stock in a transaction on Monday, August 13th. The shares were bought at an average cost of $11.87 per share, for a total transaction of $117,857.23. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, President Juan C. Jaen purchased 10,000 shares of the firm’s stock in a transaction on Monday, August 13th. The stock was bought at an average price of $11.88 per share, for a total transaction of $118,800.00. The disclosure for this purchase can be found here. Insiders acquired a total of 85,117 shares of company stock worth $1,118,707 over the last 90 days.

Institutional investors have recently modified their holdings of the company. DAFNA Capital Management LLC acquired a new stake in shares of Arcus Biosciences during the 1st quarter valued at about $116,000. Point72 Asia Hong Kong Ltd acquired a new stake in shares of Arcus Biosciences during the 1st quarter valued at about $118,000. California Public Employees Retirement System acquired a new position in Arcus Biosciences in the second quarter valued at about $135,000. Hilltop Holdings Inc. acquired a new position in Arcus Biosciences in the second quarter valued at about $136,000. Finally, Cubist Systematic Strategies LLC acquired a new position in Arcus Biosciences in the first quarter valued at about $137,000. Institutional investors and hedge funds own 39.02% of the company’s stock.

About Arcus Biosciences

Arcus Biosciences, Inc, a clinical-stage biopharmaceutical company, engages in developing and commercializing cancer immunotherapies in the United States. It is developing various products for treating solid tumors, including AB928, an adenosine receptor antagonist that is in Phase I clinical trial; AB680, a CD73 inhibitor; AB122, an anti-PD-1 antibody that is Phase I clinical trial; and AB154, an anti-TIGIT antibody.

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