Arcus Biosciences, Inc. (NYSE:RCUS) Receives $38.30 Consensus Price Target from Brokerages

Shares of Arcus Biosciences, Inc. (NYSE:RCUS) have been assigned an average recommendation of “Moderate Buy” from the fourteen research firms that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $38.30.

A number of equities analysts recently issued reports on RCUS shares. Wedbush upped their price target on shares of Arcus Biosciences from $41.00 to $43.00 and gave the stock an “outperform” rating in a research note on Thursday, August 6th. Cantor Fitzgerald reissued an “overweight” rating on shares of Arcus Biosciences in a research report on Friday, September 11th. Weiss Ratings restated a “sell (d-)” rating on shares of Arcus Biosciences in a research note on Friday, July 17th. TD Cowen started coverage on shares of Arcus Biosciences in a report on Wednesday. They issued a “buy” rating for the company. Finally, Morgan Stanley set a $23.00 target price on shares of Arcus Biosciences in a research note on Monday, August 10th.

Arcus Biosciences Stock Down 1.0%

Shares of NYSE:RCUS opened at $25.30 on Wednesday. The stock has a fifty day simple moving average of $28.40 and a two-hundred day simple moving average of $25.88. The stock has a market capitalization of $3.22 billion, a price-to-earnings ratio of -6.49 and a beta of 0.81. Arcus Biosciences has a 12-month low of $12.11 and a 12-month high of $31.74. The company has a current ratio of 3.82, a quick ratio of 3.82 and a debt-to-equity ratio of 0.22.

Arcus Biosciences (NYSE:RCUS) last released its earnings results on Wednesday, August 5th. The company reported ($0.72) EPS for the quarter, topping analysts’ consensus estimates of ($0.89) by $0.17. Arcus Biosciences had a negative return on equity of 89.54% and a negative net margin of 393.16%.The firm had revenue of $41.00 million for the quarter, compared to analysts’ expectations of $21.98 million. Arcus Biosciences’s quarterly revenue was down 74.4% on a year-over-year basis. On average, research analysts anticipate that Arcus Biosciences will post -3.6 earnings per share for the current fiscal year.

Insider Activity at Arcus Biosciences

In related news, President Juan Jaen sold 20,067 shares of the business’s stock in a transaction that occurred on Friday, July 10th. The shares were sold at an average price of $28.62, for a total value of $574,317.54. Following the completion of the transaction, the president directly owned 822,240 shares in the company, valued at $23,532,508.80. The trade was a 2.38% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Alexander Azoy sold 2,827 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer directly owned 39,581 shares in the company, valued at $1,187,430. This trade represents a 6.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 102,827 shares of company stock valued at $2,994,141 in the last three months. 7.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Integrated Wealth Concepts LLC purchased a new stake in shares of Arcus Biosciences during the second quarter valued at $30,000. Hantz Financial Services Inc. increased its holdings in Arcus Biosciences by 121.9% in the 4th quarter. Hantz Financial Services Inc. now owns 1,604 shares of the company’s stock worth $38,000 after buying an additional 881 shares in the last quarter. KBC Group NV bought a new stake in Arcus Biosciences in the 1st quarter worth about $50,000. Royal Bank of Canada raised its position in Arcus Biosciences by 14.6% in the 1st quarter. Royal Bank of Canada now owns 4,758 shares of the company’s stock worth $102,000 after buying an additional 607 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in Arcus Biosciences by 10.0% in the 2nd quarter. GAMMA Investing LLC now owns 3,966 shares of the company’s stock worth $122,000 after buying an additional 359 shares during the last quarter. Hedge funds and other institutional investors own 92.89% of the company’s stock.

Arcus Biosciences Company Profile

Arcus Biosciences, Inc is a clinical-stage biopharmaceutical company focused on developing medicines for cancer and other serious diseases. The company combines antibody-based therapies, small-molecule drugs and combination treatment strategies designed to influence the immune system and other biological pathways involved in tumor growth.

Its oncology pipeline includes investigational therapies targeting pathways such as TIGIT, PD-1, CD73, adenosine receptors and HIF-2α. Key programs have included domvanalimab, an anti-TIGIT antibody; zimberelimab, an anti-PD-1 antibody; quemliclustat, a CD73 inhibitor; etrumadenant, an adenosine receptor antagonist; and AB521, an HIF-2α inhibitor.