Arcus Biosciences (NYSE:RCUS) Stock Price Expected to Rise, Leerink Partners Analyst Says

Arcus Biosciences (NYSE:RCUS) had its target price boosted by stock analysts at Leerink Partners from $36.00 to $49.00 in a research note issued on Monday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Leerink Partners’ price objective would indicate a potential upside of 102.65% from the company’s current price.

A number of other brokerages have also recently commented on RCUS. Weiss Ratings reiterated a “sell (d-)” rating on shares of Arcus Biosciences in a research report on Wednesday, January 21st. Morgan Stanley reissued an “equal weight” rating and issued a $20.00 price target (down from $23.00) on shares of Arcus Biosciences in a research note on Thursday, January 8th. Wells Fargo & Company set a $23.00 price objective on Arcus Biosciences and gave the company an “equal weight” rating in a research note on Thursday, February 12th. Bank of America boosted their target price on Arcus Biosciences from $17.00 to $26.00 and gave the company a “neutral” rating in a research note on Friday, November 28th. Finally, Wall Street Zen upgraded Arcus Biosciences from a “sell” rating to a “hold” rating in a research report on Saturday. Eight analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Arcus Biosciences currently has a consensus rating of “Moderate Buy” and a consensus target price of $31.30.

Arcus Biosciences Price Performance

Shares of RCUS stock traded up $3.81 during trading on Monday, hitting $24.18. The company had a trading volume of 2,411,971 shares, compared to its average volume of 1,244,598. The stock’s 50-day moving average is $21.57 and its two-hundred day moving average is $18.56. The stock has a market capitalization of $3.03 billion, a price-to-earnings ratio of -7.33 and a beta of 0.85. Arcus Biosciences has a 52 week low of $6.50 and a 52 week high of $26.40. The company has a quick ratio of 4.36, a current ratio of 4.36 and a debt-to-equity ratio of 0.16.

Arcus Biosciences (NYSE:RCUS) last posted its quarterly earnings data on Wednesday, February 25th. The company reported ($0.89) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.11) by $0.22. The company had revenue of $33.00 million during the quarter, compared to the consensus estimate of $24.94 million. Arcus Biosciences had a negative net margin of 142.91% and a negative return on equity of 65.77%. The firm’s revenue was down 8.3% compared to the same quarter last year. During the same period in the previous year, the firm posted ($1.03) EPS. As a group, analysts predict that Arcus Biosciences will post -3.15 EPS for the current fiscal year.

Insider Activity at Arcus Biosciences

In related news, President Juan C. Jaen sold 82,997 shares of the stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $24.71, for a total value of $2,050,855.87. Following the completion of the transaction, the president directly owned 954,063 shares of the company’s stock, valued at $23,574,896.73. This represents a 8.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Terry J. Rosen sold 28,947 shares of the firm’s stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $21.88, for a total value of $633,360.36. Following the completion of the transaction, the chief executive officer owned 2,220,553 shares of the company’s stock, valued at approximately $48,585,699.64. The trade was a 1.29% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 263,987 shares of company stock worth $6,025,620 over the last ninety days. Corporate insiders own 9.60% of the company’s stock.

Institutional Investors Weigh In On Arcus Biosciences

Several hedge funds have recently bought and sold shares of the business. AQR Capital Management LLC lifted its holdings in shares of Arcus Biosciences by 253.9% during the first quarter. AQR Capital Management LLC now owns 90,954 shares of the company’s stock valued at $714,000 after purchasing an additional 65,254 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Arcus Biosciences by 10.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,572 shares of the company’s stock worth $297,000 after purchasing an additional 3,565 shares during the last quarter. Millennium Management LLC boosted its stake in Arcus Biosciences by 29.2% in the 1st quarter. Millennium Management LLC now owns 1,194,622 shares of the company’s stock worth $9,378,000 after purchasing an additional 270,253 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Arcus Biosciences by 106.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 914,208 shares of the company’s stock valued at $7,177,000 after purchasing an additional 470,755 shares during the last quarter. Finally, Strs Ohio bought a new stake in Arcus Biosciences during the 1st quarter valued at about $67,000. Institutional investors own 92.89% of the company’s stock.

About Arcus Biosciences

Arcus Biosciences is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of novel cancer immunotherapies. The company’s research platform centers on modulating tumor microenvironments and immune checkpoints through both small-molecule and antibody-based candidates. Arcus aims to enhance antitumor immune responses by targeting pathways such as the adenosine axis and inhibitory receptors on immune cells.

The company’s lead clinical programs include etrumadenant, an orally administered A2A adenosine receptor antagonist being evaluated in combination with anti-PD-1 therapy, and domvanalimab, an anti-TIGIT monoclonal antibody.