Zacks: Brokerages Set $21.50 Price Target for Arcus Biosciences Inc (RCUS)
Arcus Biosciences Inc (NYSE:RCUS) has earned an average broker rating score of 1.00 (Strong Buy) from the two brokers that provide coverage for the stock, Zacks Investment Research reports. Two research analysts have rated the stock with a strong buy rating.
Brokers have set a one year consensus target price of $21.50 for the company and are expecting that the company will post ($0.38) EPS for the current quarter, according to Zacks. Zacks has also assigned Arcus Biosciences an industry rank of 103 out of 255 based on the ratings given to related companies.
Separately, Zacks Investment Research upgraded shares of Arcus Biosciences from a “sell” rating to a “hold” rating in a research note on Friday, June 22nd.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. DAFNA Capital Management LLC purchased a new stake in Arcus Biosciences in the 1st quarter worth approximately $116,000. Point72 Asia Hong Kong Ltd purchased a new stake in Arcus Biosciences in the 1st quarter worth approximately $118,000. Cubist Systematic Strategies LLC purchased a new stake in Arcus Biosciences in the 1st quarter worth approximately $137,000. Platinum Investment Management Ltd. purchased a new stake in Arcus Biosciences in the 1st quarter worth approximately $154,000. Finally, Zimmer Partners LP purchased a new stake in Arcus Biosciences in the 1st quarter worth approximately $154,000. Institutional investors and hedge funds own 33.23% of the company’s stock.
RCUS traded up $0.10 during midday trading on Friday, reaching $13.27. The company had a trading volume of 45,500 shares, compared to its average volume of 157,563. Arcus Biosciences has a 12-month low of $10.80 and a 12-month high of $22.10.
Arcus Biosciences (NYSE:RCUS) last released its earnings results on Monday, August 6th. The company reported ($0.32) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.40) by $0.08. The company had revenue of $1.25 million during the quarter, compared to analysts’ expectations of $1.30 million. research analysts anticipate that Arcus Biosciences will post -1.81 earnings per share for the current fiscal year.
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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