Arcus Biosciences (NYSE:RCUS) Stock Gets Price Target Boost from Leerink Partners

Arcus Biosciences (NYSE:RCUS) had its target price increased by Leerink Partners from $46.00 to $49.00 in a report released on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Leerink Partners‘s price objective indicates a potential upside of 168.54% from the stock’s current price.

Several other brokerages have also recently commented on RCUS. Wall Street Zen cut shares of Arcus Biosciences from a “hold” rating to a “sell” rating in a research report on Saturday, October 24th. TD Cowen started coverage on Arcus Biosciences in a report on Wednesday, September 16th. They issued a “buy” rating for the company. Wells Fargo & Company upped their price objective on Arcus Biosciences from $23.00 to $26.00 and gave the company an “equal weight” rating in a research note on Thursday, August 6th. Cantor Fitzgerald restated an “overweight” rating on shares of Arcus Biosciences in a research note on Friday, September 11th. Finally, Truist Financial reduced their target price on Arcus Biosciences from $41.00 to $40.00 and set a “buy” rating on the stock in a report on Thursday. Twelve equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Arcus Biosciences presently has an average rating of “Moderate Buy” and a consensus target price of $39.36.

Arcus Biosciences Stock Up 3.1%

RCUS traded up $0.56 during trading on Thursday, hitting $18.25. The company had a trading volume of 1,055,346 shares, compared to its average volume of 2,615,364. Arcus Biosciences has a 1-year low of $17.43 and a 1-year high of $31.74. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.82 and a quick ratio of 3.82. The company has a market cap of $2.32 billion, a PE ratio of -5.03 and a beta of 1.04. The business has a 50-day moving average of $23.74 and a 200-day moving average of $24.54.

Arcus Biosciences (NYSE:RCUS) last announced its quarterly earnings data on Wednesday, November 4th. The company reported ($1.00) earnings per share for the quarter, missing the consensus estimate of ($0.89) by ($0.11). The company had revenue of $9.00 million for the quarter, compared to analyst estimates of $7.58 million. Arcus Biosciences had a negative return on equity of 89.54% and a negative net margin of 393.16%. Arcus Biosciences’s revenue was down 65.4% on a year-over-year basis. During the same period in the prior year, the business earned ($1.27) earnings per share. As a group, analysts forecast that Arcus Biosciences will post -3.55 earnings per share for the current year.

Insider Buying and Selling at Arcus Biosciences

In other Arcus Biosciences news, CAO Alexander Azoy sold 2,827 shares of the stock in a transaction on Friday, August 21st. The shares were sold at an average price of $30.00, for a total transaction of $84,810.00. Following the sale, the chief accounting officer directly owned 39,581 shares of the company’s stock, valued at approximately $1,187,430. This represents a 6.67% decrease in their ownership of the stock. The sale was disclosed in a document filed 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. Company insiders own 7.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Diversified Trust Co bought a new stake in shares of Arcus Biosciences during the 3rd quarter valued at about $662,000. Aberdeen Group plc lifted its holdings in Arcus Biosciences by 62.4% in the third quarter. Aberdeen Group plc now owns 1,056,679 shares of the company’s stock worth $27,294,000 after acquiring an additional 405,967 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in Arcus Biosciences by 65.0% in the third quarter. Russell Investments Group Ltd. now owns 134,530 shares of the company’s stock worth $3,475,000 after acquiring an additional 52,981 shares during the last quarter. Maryland State Retirement & Pension System boosted its stake in Arcus Biosciences by 58.7% in the third quarter. Maryland State Retirement & Pension System now owns 20,135 shares of the company’s stock valued at $520,000 after acquiring an additional 7,449 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its stake in Arcus Biosciences by 4.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 22,659 shares of the company’s stock valued at $572,000 after acquiring an additional 895 shares during the period. 92.89% of the stock is owned by institutional investors and hedge funds.

Key Arcus Biosciences News

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.

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.