Arcus Biosciences Inc. (RCUS) saw its stock price surge 5.55% during intraday trading on Monday, driven by bullish analyst sentiment.

The significant price movement follows positive actions from two investment firms. Leerink raised its price target on Arcus Biosciences to $49 from $36 while maintaining an Outperform rating on the shares. Separately, H.C. Wainwright analyst Emily Bodnar maintained a Buy rating on the stock with a price target of $32.

These analyst updates reflect growing confidence in the company's prospects and likely contributed to the heightened investor buying activity during the trading session.