Zacks Investment Research upgraded shares of Arcus Biosciences (NYSE:RCUS) from a hold rating to a buy rating in a report released on Saturday, Zacks.com reports. Zacks Investment Research currently has $12.00 price target on the stock.

According to Zacks, “Arcus Biosciences is a biopharmaceutical company. It focused on creating innovative cancer immunotherapies. The company’s product portfolio includes AB928, AB122, AB154 and AB680. AB928 which is in its final phase is a potent and selective dual antagonist of the adenosine receptors. AB122 which is in its Phase1 is a monoclonal antibody which potently and selectively blocks a protein called PD-1. AB154 is a monoclonal antibody which potently and selectively blocks a novel immune checkpoint called TIGIT. AB680, which is in its Phase1 is a potent and selective inhibitor of CD73, the enzyme responsible for the extracellular production of adenosine within the tumor micro-environment. Arcus Biosciences is based in Hayward, CA. “

A number of other brokerages also recently issued reports on RCUS. Mizuho started coverage on Arcus Biosciences in a research report on Wednesday, December 18th. They set a buy rating and a $22.00 price objective for the company. SunTrust Banks started coverage on Arcus Biosciences in a research report on Tuesday, November 12th. They set a buy rating and a $20.00 price objective for the company. Finally, ValuEngine downgraded Arcus Biosciences from a buy rating to a hold rating in a research report on Tuesday, January 14th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company has an average rating of Buy and a consensus price target of $17.80.

Shares of RCUS opened at $10.02 on Friday. Arcus Biosciences has a 1 year low of $6.30 and a 1 year high of $13.66. The company has a market capitalization of $469.14 million, a price-to-earnings ratio of -5.45 and a beta of 1.14. The business has a 50-day moving average of $9.49 and a 200-day moving average of $8.45.

Arcus Biosciences (NYSE:RCUS) last issued its quarterly earnings data on Tuesday, November 5th. The company reported ($0.51) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.49) by ($0.02). Arcus Biosciences had a negative return on equity of 38.73% and a negative net margin of 1,180.37%. The company had revenue of $1.75 million for the quarter, compared to the consensus estimate of $1.34 million. On average, research analysts predict that Arcus Biosciences will post -2.2 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Metropolitan Life Insurance Co NY grew its stake in Arcus Biosciences by 14.0% during the third quarter. Metropolitan Life Insurance Co NY now owns 11,546 shares of the company’s stock worth $105,000 after purchasing an additional 1,421 shares during the period. Millennium Management LLC grew its stake in Arcus Biosciences by 5.3% during the third quarter. Millennium Management LLC now owns 188,499 shares of the company’s stock worth $1,715,000 after purchasing an additional 9,468 shares during the period. California State Teachers Retirement System grew its stake in Arcus Biosciences by 3.0% during the third quarter. California State Teachers Retirement System now owns 50,587 shares of the company’s stock worth $460,000 after purchasing an additional 1,464 shares during the period. State Street Corp grew its stake in Arcus Biosciences by 1.0% during the third quarter. State Street Corp now owns 617,246 shares of the company’s stock worth $5,617,000 after purchasing an additional 6,133 shares during the period. Finally, Parallel Advisors LLC grew its stake in Arcus Biosciences by 13,668.8% during the third quarter. Parallel Advisors LLC now owns 86,055 shares of the company’s stock worth $783,000 after purchasing an additional 85,430 shares during the period. 45.28% of the stock is owned by institutional investors and hedge funds.

Arcus Biosciences Company Profile

Arcus Biosciences, Inc, a clinical-stage biopharmaceutical company, engages in developing and commercializing cancer immunotherapies in the United States. The company develops various programs targeting immuno-oncology pathways, including AB928, a dual adenosine receptor antagonist, which is in a Phase I/Ib clinical trial; and AB122, an anti-PD-1 antibody that is in Phase I clinical trial.

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