Arcus Biosciences (NYSE:RCUS) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Arcus Biosciences (NYSE:RCUS) from a hold rating to a buy rating in a research report released on Tuesday, Zacks.com reports. They currently have $13.00 price objective 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 research firms have also commented on RCUS. Mizuho started coverage on Arcus Biosciences in a research note on Wednesday, December 18th. They issued a buy rating and a $22.00 price objective on the stock. SunTrust Banks started coverage on Arcus Biosciences in a research note on Tuesday, November 12th. They issued a buy rating and a $20.00 price objective on the stock. Finally, ValuEngine lowered Arcus Biosciences from a buy rating to a hold rating in a research note on Thursday, February 6th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Arcus Biosciences currently has a consensus rating of Buy and an average target price of $18.00.

Arcus Biosciences stock opened at $11.03 on Tuesday. The business’s 50-day simple moving average is $10.13 and its 200-day simple moving average is $8.66. The firm has a market capitalization of $523.25 million, a PE ratio of -5.99 and a beta of 1.18. Arcus Biosciences has a 52 week low of $6.30 and a 52 week high of $13.66.

Hedge funds have recently added to or reduced their stakes in the stock. Metropolitan Life Insurance Co NY grew its position 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 buying an additional 1,421 shares in the last quarter. California State Teachers Retirement System grew its position 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 buying an additional 1,464 shares in the last quarter. Rhumbline Advisers grew its position in Arcus Biosciences by 10.5% during the third quarter. Rhumbline Advisers now owns 48,859 shares of the company’s stock worth $445,000 after buying an additional 4,660 shares in the last quarter. BlackRock Inc. grew its position in Arcus Biosciences by 22.1% during the second quarter. BlackRock Inc. now owns 2,236,133 shares of the company’s stock worth $17,777,000 after buying an additional 404,432 shares in the last quarter. Finally, Millennium Management LLC grew its position 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 buying an additional 9,468 shares in the last quarter. 45.37% of the stock is currently 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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