Arcus Biosciences Inc. (RCUS) stock soared 13.38% on Wednesday in pre-market trading hours. The biopharmaceutical company's shares were boosted by multiple analyst upgrades and increased price targets.
Barclays analyst Peter Lawson maintained a Buy rating on Arcus and set a price target of $29.00. HC Wainwright also upgraded Arcus to Buy from Neutral and raised their price target to $24 from $18, citing the company's strong pipeline and growth prospects.
According to analysts surveyed by FactSet, Arcus currently has an average Buy rating and a mean price target of $31.30, suggesting further upside potential for the stock.
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