Arcus Biosciences, Inc. (NYSE:RCUS) Stock Has Consensus Target Price of $39.64 According to Brokerages

Arcus Biosciences, Inc. (NYSE:RCUS) has been assigned a consensus recommendation of “Moderate Buy” from the sixteen brokerages that are covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and twelve have issued a buy recommendation on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $39.36.

A number of analysts have recently issued reports on RCUS shares. The Goldman Sachs Group reaffirmed a “buy” rating and set a $42.00 target price on shares of Arcus Biosciences in a research report on Friday, August 7th. Wall Street Zen cut Arcus Biosciences from a “hold” rating to a “sell” rating in a research note on Saturday, October 24th. Truist Financial reduced their price target on Arcus Biosciences from $41.00 to $40.00 and set a “buy” rating for the company in a report on Thursday. William Blair started coverage on Arcus Biosciences in a report on Friday, October 16th. They issued an “outperform” rating for the company. Finally, Morgan Stanley set a $23.00 price objective on Arcus Biosciences in a research note on Monday, August 10th.

Arcus Biosciences News Summary

Here are the key news stories impacting Arcus Biosciences this week:

• Positive Sentiment: Leerink Partners raised its price target to $49 from $46 and maintained an “outperform” rating, signaling confidence in Arcus’s potential. Read More.
• Negative Sentiment: Arcus reported a third-quarter loss of $1.00 per share, wider than analysts’ expected loss of $0.92. Revenue of $9 million exceeded expectations, but was down 65.4% year over year. The earnings-per-share miss may weigh on sentiment. Read More.
• Negative Sentiment: Wedbush lowered its price target to $45 from $49, while retaining an “outperform” rating. Truist also trimmed its target, to $40 from $41, but kept its “buy” rating. The reductions temper the positive outlook, though both firms still see substantial potential upside. Read More. · Read More.

Arcus Biosciences Trading Up 3.1%

NYSE RCUS opened at $18.25 on Thursday. The stock has a market cap of $2.32 billion, a P/E ratio of -5.03 and a beta of 1.04. The company’s fifty day simple moving average is $23.74 and its 200-day simple moving average is $24.54. The company has a current ratio of 3.34, a quick ratio of 3.82 and a debt-to-equity ratio of 0.28. Arcus Biosciences has a 52 week low of $17.43 and a 52 week high of $31.74.

Arcus Biosciences (NYSE:RCUS) last released its quarterly earnings results on Wednesday, November 4th. The company reported ($1.00) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.11). Arcus Biosciences had a negative net margin of 453.00% and a negative return on equity of 91.65%. The firm had revenue of $9.00 million for the quarter, compared to analyst estimates of $7.58 million. During the same period in the previous year, the business posted ($1.27) earnings per share. Arcus Biosciences’s revenue for the quarter was down 65.4% on a year-over-year basis. Equities research analysts predict that Arcus Biosciences will post -3.57 EPS for the current fiscal year.

Insider Activity

In other news, CAO Alexander Azoy sold 2,827 shares of the stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $30.00, for a total transaction of $84,810.00. Following the completion of the transaction, the chief accounting officer directly owned 39,581 shares in the company, valued at approximately $1,187,430. This represents a 6.67% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 7.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Arcus Biosciences

A number of institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC boosted its position in Arcus Biosciences by 10.0% during the 2nd quarter. GAMMA Investing LLC now owns 3,966 shares of the company’s stock worth $122,000 after acquiring an additional 359 shares during the period. Arizona State Retirement System grew its stake in Arcus Biosciences by 1.7% during the 2nd quarter. Arizona State Retirement System now owns 24,211 shares of the company’s stock valued at $746,000 after acquiring an additional 409 shares in the last quarter. Royal Bank of Canada grew its stake in Arcus Biosciences by 14.6% during the 1st quarter. Royal Bank of Canada now owns 4,758 shares of the company’s stock valued at $102,000 after acquiring an additional 607 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Arcus Biosciences by 4.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 22,659 shares of the company’s stock valued at $572,000 after purchasing an additional 895 shares during the period. Finally, Integrated Wealth Concepts LLC acquired a new position in shares of Arcus Biosciences in the 2nd quarter valued at about $30,000. Institutional investors and hedge funds own 92.89% of the company’s stock.

About Arcus Biosciences

Arcus Biosciences, Inc is a clinical-stage biopharmaceutical company focused on developing therapies for cancer and other serious diseases. The company uses its research platform to discover and advance medicines designed to target immune suppression and other biological mechanisms involved in tumor growth.

Arcus’s oncology pipeline has included antibody-based and small-molecule therapies aimed at targets such as TIGIT, PD-1, CD73, and the adenosine A2A and A2B receptors. Its key development programs have included domvanalimab, zimberelimab, quemliclustat, and etrumadenant, which have been evaluated in clinical studies across several cancer types, including lung, gastrointestinal, and colorectal cancers.

Founded in 2015 and headquartered in Hayward, California, Arcus conducts research and clinical-development activities intended to support potential commercialization in international markets.