Arcus Biosciences’ (RCUS) “Outperform” Rating Reiterated at Wedbush

Wedbush reissued their outperform rating on shares of Arcus Biosciences (NYSE:RCUS) in a research note published on Wednesday,Benzinga reports. Wedbush currently has a $43.00 price target on the stock.

RCUS has been the subject of several other research reports. Lifesci Capital began coverage on Arcus Biosciences in a report on Thursday, June 4th. They issued an “outperform” rating and a $46.00 price objective for the company. TD Cowen initiated coverage on shares of Arcus Biosciences in a research report on Wednesday, September 16th. They issued a “buy” rating for the company. Truist Financial restated a “buy” rating and set a $40.00 price objective (up from $35.00) on shares of Arcus Biosciences in a research note on Tuesday, September 8th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $42.00 target price on shares of Arcus Biosciences in a report on Friday, August 7th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Arcus Biosciences in a research note on Friday, July 17th. Ten analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Arcus Biosciences has an average rating of “Moderate Buy” and an average target price of $38.30.

Arcus Biosciences Price Performance

NYSE:RCUS opened at $24.43 on Wednesday. Arcus Biosciences has a 52-week low of $13.21 and a 52-week high of $31.74. The company has a market cap of $3.11 billion, a P/E ratio of -6.26 and a beta of 0.94. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.82 and a current ratio of 3.82. The stock’s 50-day simple moving average is $27.83 and its 200 day simple moving average is $26.06.

Arcus Biosciences (NYSE:RCUS) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($0.72) EPS for the quarter, beating the consensus estimate of ($0.89) by $0.17. The firm had revenue of $41.00 million during the quarter, compared to analysts’ expectations of $21.98 million. Arcus Biosciences had a negative return on equity of 89.54% and a negative net margin of 393.16%.The firm’s revenue for the quarter was down 74.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Arcus Biosciences will post -3.53 EPS for the current fiscal year.

Insiders Place Their Bets

In other Arcus Biosciences news, CAO Alexander Azoy sold 2,827 shares of the company’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $30.00, for a total value of $84,810.00. Following the transaction, the chief accounting officer directly owned 39,581 shares in the company, valued at $1,187,430. The trade was a 6.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Juan Jaen sold 48,502 shares of the stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $30.05, for a total transaction of $1,457,485.10. Following the completion of the transaction, the president directly owned 842,307 shares in the company, valued at $25,311,325.35. The trade was a 5.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 71,396 shares of company stock valued at $2,116,613. Company insiders own 7.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. bought a new position in shares of Arcus Biosciences during the second quarter worth approximately $506,113,000. Parkman Healthcare Partners LLC bought a new stake in Arcus Biosciences in the 2nd quarter valued at $28,341,000. Bank of America Corp DE bought a new stake in Arcus Biosciences in the 2nd quarter valued at $25,759,000. First Turn Management LLC acquired a new position in Arcus Biosciences in the 4th quarter valued at $13,467,000. Finally, Bank of New York Mellon Corp acquired a new position in Arcus Biosciences in the 2nd quarter valued at $16,741,000. Institutional investors and hedge funds own 92.89% of the company’s stock.

Arcus Biosciences Company Profile

Arcus Biosciences, Inc is a biopharmaceutical company focused on discovering and developing medicines for the treatment of cancer. The company uses a proprietary research platform to develop small-molecule and antibody-based therapies designed to target biological mechanisms involved in tumor growth and immune-system regulation.

Arcus’ oncology pipeline has included investigational therapies such as zimberelimab, an anti-PD-1 antibody; domvanalimab, an anti-TIGIT antibody; quemliclustat, a CD73 inhibitor; and etrumadenant, an adenosine receptor antagonist.