Arcus Biosciences, Inc. (NYSE:RCUS) Receives $30.25 Consensus Target Price from Analysts

Shares of Arcus Biosciences, Inc. (NYSE:RCUS) have been given a consensus rating of “Buy” by the ten brokerages that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $30.25.

RCUS has been the subject of several recent analyst reports. Bank of America decreased their target price on shares of Arcus Biosciences from $22.00 to $17.00 and set a “neutral” rating for the company in a report on Wednesday, February 19th. Morgan Stanley decreased their target price on shares of Arcus Biosciences from $36.00 to $25.00 and set an “overweight” rating for the company in a report on Tuesday, February 18th. Finally, HC Wainwright upgraded shares of Arcus Biosciences from a “neutral” rating to a “buy” rating and raised their target price for the stock from $18.00 to $24.00 in a report on Wednesday, February 26th.

Insider Buying and Selling

In related news, CFO Robert C. Goeltz II sold 3,594 shares of the firm’s stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $15.00, for a total transaction of $53,910.00. Following the transaction, the chief financial officer now owns 60,138 shares of the company’s stock, valued at approximately $902,070. This trade represents a 5.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Yasunori Kaneko acquired 20,000 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The shares were acquired at an average cost of $10.06 per share, for a total transaction of $201,200.00. Following the transaction, the director now owns 28,400 shares of the company’s stock, valued at approximately $285,704. This represents a 238.10 % increase in their position. The disclosure for this purchase can be found here. 12.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Arcus Biosciences

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RCUS. Quest Partners LLC raised its position in Arcus Biosciences by 40,904.3% during the third quarter. Quest Partners LLC now owns 9,431 shares of the company’s stock valued at $144,000 after acquiring an additional 9,408 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in Arcus Biosciences by 25.1% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 931,048 shares of the company’s stock valued at $14,236,000 after acquiring an additional 186,750 shares in the last quarter. Intech Investment Management LLC bought a new position in shares of Arcus Biosciences in the third quarter valued at approximately $244,000. Massachusetts Financial Services Co. MA raised its position in shares of Arcus Biosciences by 39.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 80,889 shares of the company’s stock valued at $1,237,000 after purchasing an additional 22,716 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Arcus Biosciences by 11.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 566,979 shares of the company’s stock valued at $8,669,000 after purchasing an additional 59,536 shares during the period. Institutional investors own 92.89% of the company’s stock.

Arcus Biosciences Stock Performance

NYSE:RCUS opened at $8.95 on Friday. Arcus Biosciences has a twelve month low of $8.82 and a twelve month high of $19.11. The company has a 50-day moving average of $11.66 and a 200-day moving average of $14.62. The firm has a market cap of $940.46 million, a price-to-earnings ratio of -2.84 and a beta of 1.36. The company has a current ratio of 5.24, a quick ratio of 5.24 and a debt-to-equity ratio of 0.08.

Arcus Biosciences (NYSE:RCUS) last announced its earnings results on Tuesday, February 25th. The company reported ($1.03) EPS for the quarter, topping the consensus estimate of ($1.17) by $0.14. Arcus Biosciences had a negative net margin of 102.66% and a negative return on equity of 45.59%. The company had revenue of $36.00 million during the quarter, compared to analysts’ expectations of $29.38 million. Analysts forecast that Arcus Biosciences will post -3.15 earnings per share for the current fiscal year.

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.