Arcus Biosciences, Inc. (NYSE:RCUS) Stock Has Average Price Target of $38.30 According to Analysts

Arcus Biosciences, Inc. (NYSE:RCUS) has been assigned an average recommendation of “Moderate Buy” from the fourteen ratings firms that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and ten have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $38.30.

A number of analysts have issued reports on RCUS shares. Wedbush reiterated an “outperform” rating and set a $43.00 price target on shares of Arcus Biosciences in a research note on Wednesday, September 30th. Wall Street Zen raised shares of Arcus Biosciences from a “sell” rating to a “hold” rating in a research note on Saturday, October 3rd. The Goldman Sachs Group restated a “buy” rating and issued a $42.00 price objective on shares of Arcus Biosciences in a report on Friday, August 7th. HC Wainwright upped their target price on shares of Arcus Biosciences from $32.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, July 20th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arcus Biosciences in a research note on Friday, September 11th.

Arcus Biosciences Price Performance

RCUS stock opened at $22.54 on Friday. The company has a current ratio of 3.82, a quick ratio of 3.82 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $2.87 billion, a PE ratio of -5.78 and a beta of 0.94. Arcus Biosciences has a 12-month low of $15.38 and a 12-month high of $31.74. The business’s fifty day moving average price is $27.31 and its 200 day moving average price is $26.20.

Arcus Biosciences (NYSE:RCUS) last posted its earnings results on Wednesday, August 5th. The company reported ($0.72) earnings per share (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $21.98 million. The business’s revenue was down 74.4% on a year-over-year basis. On average, sell-side analysts anticipate that Arcus Biosciences will post -3.53 EPS for the current year.

Insider Activity at Arcus Biosciences

In other Arcus Biosciences news, CAO Alexander Azoy sold 2,827 shares of the business’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 completion of the transaction, the chief accounting officer 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 legal filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 7.60% of the stock is currently owned by company insiders.

Institutional Trading of Arcus Biosciences

Several hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC lifted its holdings in shares of Arcus Biosciences by 10.0% during the second quarter. GAMMA Investing LLC now owns 3,966 shares of the company’s stock worth $122,000 after purchasing an additional 359 shares during the period. Arizona State Retirement System grew its position in Arcus Biosciences by 1.7% in the 2nd quarter. Arizona State Retirement System now owns 24,211 shares of the company’s stock valued at $746,000 after buying an additional 409 shares during the last quarter. Royal Bank of Canada increased its stake in Arcus Biosciences by 14.6% in the 1st quarter. Royal Bank of Canada now owns 4,758 shares of the company’s stock valued at $102,000 after buying an additional 607 shares during the period. Integrated Wealth Concepts LLC acquired a new position in Arcus Biosciences in the 2nd quarter valued at $30,000. Finally, Quantinno Capital Management LP increased its stake in Arcus Biosciences by 8.5% in the 1st quarter. Quantinno Capital Management LP now owns 17,295 shares of the company’s stock valued at $374,000 after buying an additional 1,349 shares during the period. 92.89% of the stock is currently owned by institutional investors and hedge funds.

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.