Arcus Biosciences (RCUS) Received its Third Buy in a Row


After Mizuho Securities and Leerink Partners gave Arcus Biosciences (NYSE: RCUS) a Buy rating last month, the company received another Buy, this time from Berenberg Bank. Analyst Zhiqiang Shu initiated coverage with a Buy rating on Arcus Biosciences today and set a price target of $50.00. The company’s shares closed last Monday at $25.76.

According to TipRanks.com, Shu is a 3-star analyst with an average return of 24.2% and a 80.0% success rate. Shu covers the Healthcare sector, focusing on stocks such as Black Diamond Therapeutics, Seattle Genetics, and Cue Biopharma.

Currently, the analyst consensus on Arcus Biosciences is a Strong Buy with an average price target of $43.67, implying a 76.5% upside from current levels. In a report released yesterday, Evercore ISI also initiated coverage with a Buy rating on the stock.

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Based on Arcus Biosciences’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $64.53 million and net profit of $1.82 million. In comparison, last year the company earned revenue of $1.75 million and had a GAAP net loss of $22.35 million.

Based on the recent corporate insider activity of 14 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of RCUS in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Arcus Biosciences, Inc. engages in the development and commercialization of immunotherapies. The firm compete in the segments of the pharmaceutical, biotechnology and other related markets that develop immunotherapies for the treatment of cancer. The company was founded by Terry J. Rosen and Juan Carlos Jaen in 2015 and is headquartered in Hayward, CA.

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