In a report released today, Geoff Porges from Leerink Partners maintained a Buy rating on Arcus Biosciences (RCUS), with a price target of $41.00. The company’s shares closed last Friday at $20.60.
According to TipRanks.com, Porges is a 3-star analyst with an average return of 3.3% and a 46.8% success rate. Porges covers the Healthcare sector, focusing on stocks such as Alexion Pharmaceuticals, Vertex Pharmaceuticals, and Pandion Therapeutics.
Arcus Biosciences has an analyst consensus of Moderate Buy, with a price target consensus of $36.00, implying a 70.7% upside from current levels. In a report issued on October 29, Mizuho Securities also reiterated a Buy rating on the stock with a $40.00 price target.
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Based on Arcus Biosciences’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $1.75 million and GAAP net loss of $45.07 million. In comparison, last year the company earned revenue of $1.75 million and had a GAAP net loss of $28.09 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.
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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.
