** Shares of drug developer Arcus Biosciences RCUS.N rise 5.7% to $10.82
** Brokerage H.C. Wainwright upgrades rating on RCUS to "buy" from "neutral", raises PT to $24 from $18
** Brokerage sees opportunity for co's experimental drug casdatifan as second-line treatment for patients with a type of kidney cancer known as clear cell renal cell carcinoma
** Co is testing the drug as a monotherapy and in combination with other drugs
** Co to conduct a late-stage trial of casdatifan in combination with cancer drug cabozantinib as first- or second-line treatment in patients with the type of kidney cancer who have previously received treatment
** Co on Thursday posted Q4 revenue of $36 mln, beating analyst estimates of $28.9 mln, as per data compiled by LSEG
** Stock has fallen 47.9% in the past 12 months
(Reporting by Padmanabhan Ananthan)
((Padmanabhan.Ananthan@thomsonreuters.com))
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