Arcus Biosciences (NYSE:RCUS) Price Target Lowered to $13.00 at The Goldman Sachs Group

Arcus Biosciences (NYSE:RCUS) had its price objective cut by The Goldman Sachs Group from $15.00 to $13.00 in a research report sent to investors on Thursday morning,Benzinga reports. They currently have a neutral rating on the stock.

Other equities analysts have also recently issued research reports about the company. Wedbush restated an “outperform” rating and issued a $33.00 price target on shares of Arcus Biosciences in a research report on Wednesday. Bank of America cut their price target on Arcus Biosciences from $22.00 to $17.00 and set a “neutral” rating for the company in a research note on Wednesday, February 19th. Wells Fargo & Company decreased their price target on Arcus Biosciences from $29.00 to $26.00 and set an “overweight” rating for the company in a report on Wednesday. HC Wainwright raised shares of Arcus Biosciences from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $18.00 to $24.00 in a research note on Wednesday, February 26th. Finally, Barclays reduced their target price on shares of Arcus Biosciences from $29.00 to $14.00 and set an “overweight” rating for the company in a research note on Wednesday, April 23rd. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Arcus Biosciences currently has an average rating of “Moderate Buy” and an average target price of $25.67.

Arcus Biosciences Price Performance

Shares of NYSE RCUS opened at $8.28 on Thursday. The stock has a market cap of $876.73 million, a P/E ratio of -2.63 and a beta of 0.88. Arcus Biosciences has a twelve month low of $6.50 and a twelve month high of $18.98. The stock has a 50 day moving average of $8.40 and a two-hundred day moving average of $12.39. 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 released its quarterly earnings results on Tuesday, May 6th. The company reported ($1.14) EPS for the quarter, missing the consensus estimate of ($1.02) by ($0.12). The business had revenue of $28.00 million during the quarter, compared to analysts’ expectations of $38.61 million. Arcus Biosciences had a negative net margin of 102.66% and a negative return on equity of 45.59%. The firm’s revenue for the quarter was down 80.7% compared to the same quarter last year. During the same quarter last year, the company earned ($0.05) EPS. On average, research analysts forecast that Arcus Biosciences will post -3.15 earnings per share for the current year.

Insider Transactions at Arcus Biosciences

In other Arcus Biosciences news, CEO Terry J. Rosen acquired 19,800 shares of the firm’s stock in a transaction that occurred on Thursday, February 27th. The shares were acquired at an average cost of $10.18 per share, for a total transaction of $201,564.00. Following the transaction, the chief executive officer now directly owns 2,554,160 shares of the company’s stock, valued at approximately $26,001,348.80. This represents a 0.78 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Yasunori Kaneko bought 20,000 shares of the company’s stock in a transaction on Thursday, February 27th. The shares were acquired at an average price of $10.06 per share, with a total value of $201,200.00. Following the completion of the acquisition, the director now directly owns 28,400 shares in the company, valued at $285,704. This represents a 238.10 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 12.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Gilead Sciences Inc. purchased a new stake in Arcus Biosciences during the 4th quarter worth about $447,610,000. Boxer Capital Management LLC acquired a new stake in shares of Arcus Biosciences during the 4th quarter worth about $23,857,000. Vanguard Group Inc. grew its holdings in shares of Arcus Biosciences by 24.1% during the first quarter. Vanguard Group Inc. now owns 6,687,800 shares of the company’s stock worth $52,499,000 after buying an additional 1,298,584 shares in the last quarter. Braidwell LP acquired a new position in Arcus Biosciences in the 4th quarter valued at $11,943,000. Finally, Millennium Management LLC increased its stake in Arcus Biosciences by 277.1% in the fourth quarter. Millennium Management LLC now owns 924,369 shares of the company’s stock valued at $13,764,000 after purchasing an additional 679,267 shares during the last quarter. 92.89% of the stock is currently owned by institutional investors and hedge funds.

Arcus Biosciences Company Profile

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.