Arcus Biosciences, Inc. (NYSE:RCUS) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Arcus Biosciences, Inc. (NYSE:RCUS) have received a consensus recommendation of “Moderate Buy” from the nine research firms that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $38.11.

A number of equities analysts have recently commented on the company. Wedbush reiterated an “outperform” rating and issued a $30.00 target price on shares of Arcus Biosciences in a report on Thursday, May 9th. Truist Financial cut their price objective on shares of Arcus Biosciences from $50.00 to $44.00 and set a “buy” rating on the stock in a research report on Monday, June 24th. Citigroup raised their target price on shares of Arcus Biosciences from $36.00 to $38.00 and gave the stock a “buy” rating in a report on Monday, June 3rd. Barclays cut their price target on shares of Arcus Biosciences from $35.00 to $25.00 and set an “overweight” rating on the stock in a report on Monday. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Arcus Biosciences in a research note on Friday, July 5th.

Arcus Biosciences Stock Up 7.0 %

Arcus Biosciences stock opened at $14.92 on Friday. Arcus Biosciences has a 52-week low of $12.95 and a 52-week high of $25.47. The firm’s fifty day moving average is $15.82 and its 200 day moving average is $16.67. The company has a market cap of $1.36 billion, a price-to-earnings ratio of -4.80 and a beta of 0.90.

Arcus Biosciences (NYSE:RCUS) last announced its earnings results on Wednesday, May 8th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.97) by $0.92. The firm had revenue of $145.00 million for the quarter, compared to analysts’ expectations of $28.77 million. Arcus Biosciences had a negative net margin of 97.47% and a negative return on equity of 40.98%. The business’s revenue was up 480.0% compared to the same quarter last year. During the same period in the prior year, the company earned ($1.09) EPS. On average, equities research analysts anticipate that Arcus Biosciences will post -2.61 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Arcus Biosciences

A number of institutional investors have recently modified their holdings of the stock. Deutsche Bank AG increased its holdings in Arcus Biosciences by 14.4% during the third quarter. Deutsche Bank AG now owns 26,854 shares of the company’s stock valued at $482,000 after buying an additional 3,380 shares during the period. Alps Advisors Inc. raised its holdings in Arcus Biosciences by 2.3% in the third quarter. Alps Advisors Inc. now owns 54,951 shares of the company’s stock worth $986,000 after purchasing an additional 1,214 shares in the last quarter. Seven Eight Capital LP bought a new stake in shares of Arcus Biosciences in the 3rd quarter valued at about $292,000. American Century Companies Inc. raised its stake in shares of Arcus Biosciences by 3.0% during the 3rd quarter. American Century Companies Inc. now owns 457,695 shares of the company’s stock worth $8,216,000 after acquiring an additional 13,373 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in Arcus Biosciences by 1.4% in the third quarter. Vanguard Group Inc. now owns 4,493,818 shares of the company’s stock worth $80,664,000 after purchasing an additional 61,040 shares during the last quarter. 92.89% of the stock is owned by hedge funds and other institutional investors.

About Arcus Biosciences

Arcus Biosciences, Inc, a clinical-stage biopharmaceutical company, develops and commercializes cancer therapies in the United States. The company's pipeline products include Domvanalimab, an anti-TIGIT antibody, which is in Phase 2 and Phase 3 clinical trial; and AB308, an investigational anti-TIGIT monoclonal antibody, which is in Phase 1b clinical trial to study people with advanced solid and hematologic malignancies.