BUZZ-Arcus Biosciences gains after H.C. Wainwright upgrades to "buy"

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