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

Truist Financial upgraded shares of Arcus Biosciences (NYSE:RCUS) to a strong-buy rating in a research note published on Monday morning,Zacks.com reports.

A number of other research firms have also recently issued reports on RCUS. Wells Fargo & Company set a $23.00 price target on shares of Arcus Biosciences and gave the company an “equal weight” rating in a research note on Thursday, February 12th. Citigroup lifted their price target on shares of Arcus Biosciences from $44.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, March 5th. Wedbush lifted 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. HC Wainwright reissued a “buy” rating and issued a $32.00 price target on shares of Arcus Biosciences in a research note on Monday, March 2nd. Finally, Morgan Stanley restated an “equal weight” rating and issued a $20.00 price objective (down from $23.00) on shares of Arcus Biosciences in a report on Thursday, January 8th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $32.44.

Arcus Biosciences Price Performance

Arcus Biosciences stock traded up $0.50 during trading on Monday, reaching $26.55. The company had a trading volume of 103,902 shares, compared to its average volume of 1,244,672. The firm’s 50-day simple moving average is $22.55 and its 200 day simple moving average is $21.91. Arcus Biosciences has a 1-year low of $7.06 and a 1-year high of $28.72. The firm has a market capitalization of $3.34 billion, a PE ratio of -8.06 and a beta of 0.87. 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 (NYSE:RCUS) last released its quarterly earnings results on Wednesday, February 25th. The company reported ($0.89) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.11) by $0.22. Arcus Biosciences had a negative net margin of 142.91% and a negative return on equity of 65.77%. The firm had revenue of $33.00 million for the quarter, compared to analysts’ expectations of $24.94 million. During the same quarter last year, the company earned ($1.03) EPS. The firm’s revenue for the quarter was down 8.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Arcus Biosciences will post -3.73 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Principal Financial Group Inc. raised its holdings in shares of Arcus Biosciences by 1.5% during the 1st quarter. Principal Financial Group Inc. now owns 413,778 shares of the company’s stock worth $8,938,000 after acquiring an additional 6,265 shares during the period. Teachers Retirement System of The State of Kentucky raised its holdings in shares of Arcus Biosciences by 31.3% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 20,950 shares of the company’s stock worth $452,000 after acquiring an additional 5,000 shares during the period. Fifth Third Bancorp raised its holdings in shares of Arcus Biosciences by 1,234.9% during the 1st quarter. Fifth Third Bancorp now owns 20,171 shares of the company’s stock worth $436,000 after acquiring an additional 18,660 shares during the period. Y Intercept Hong Kong Ltd purchased a new position in shares of Arcus Biosciences during the 1st quarter worth $1,862,000. Finally, Louisiana State Employees Retirement System purchased a new position in shares of Arcus Biosciences during the 1st quarter worth $812,000. Hedge funds and other institutional investors own 92.89% of the company’s stock.

Arcus Biosciences Company Profile

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.