Arcus Biosciences (NYSE:RCUS) Stock Gets Price Target Increase from Truist Financial

Arcus Biosciences (NYSE:RCUS) had its price target upped by equities researchers at Truist Financial from $40.00 to $41.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial’s target price indicates a potential upside of 73.08% from the stock’s previous close.

Other analysts also recently issued research reports about the stock. Wells Fargo & Company upped their price target on shares of Arcus Biosciences from $23.00 to $26.00 and gave the stock an “equal weight” rating in a report on Thursday, August 6th. JPMorgan Chase & Co. assumed coverage on shares of Arcus Biosciences in a research report on Wednesday, October 14th. They set an “overweight” rating and a $41.00 price target on the stock. Cantor Fitzgerald reissued an “overweight” rating on shares of Arcus Biosciences in a research note on Friday, September 11th. Weiss Ratings reissued a “sell (d-)” rating on shares of Arcus Biosciences in a research note on Thursday, October 15th. Finally, Wedbush boosted their price objective on shares of Arcus Biosciences from $43.00 to $49.00 and gave the company an “outperform” rating in a research report on Wednesday. Twelve analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Arcus Biosciences currently has a consensus rating of “Moderate Buy” and an average price target of $39.18.

Arcus Biosciences Trading Up 7.0%

RCUS opened at $23.69 on Wednesday. Arcus Biosciences has a twelve month low of $16.41 and a twelve month high of $31.74. The company has a 50-day simple moving average of $26.73 and a 200 day simple moving average of $26.25. The company has a quick ratio of 3.82, a current ratio of 3.82 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $3.02 billion, a price-to-earnings ratio of -6.07 and a beta of 0.94.

Arcus Biosciences (NYSE:RCUS) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($0.72) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.89) by $0.17. Arcus Biosciences had a negative net margin of 393.16% and a negative return on equity of 89.54%. The firm had revenue of $41.00 million for the quarter, compared to the consensus estimate of $21.98 million. The firm’s revenue was down 74.4% compared to the same quarter last year. Analysts predict that Arcus Biosciences will post -3.55 EPS for the current fiscal year.

Insider Buying and Selling at Arcus Biosciences

In other news, CAO Alexander Azoy sold 2,827 shares of the firm’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 sale, the chief accounting officer directly owned 39,581 shares in the company, valued at approximately $1,187,430. This trade represents a 6.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 7.60% of the company’s stock.

Hedge Funds Weigh In On Arcus Biosciences

A number of institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new position in Arcus Biosciences in the 2nd quarter valued at approximately $506,113,000. Parkman Healthcare Partners LLC acquired a new stake in Arcus Biosciences in the second quarter valued at approximately $28,341,000. Bank of America Corp DE acquired a new stake in Arcus Biosciences in the second quarter valued at approximately $25,759,000. Bank of New York Mellon Corp acquired a new stake in Arcus Biosciences in the second quarter valued at approximately $16,741,000. Finally, PDT Partners LLC bought a new stake in shares of Arcus Biosciences during the second quarter worth $9,976,000. 92.89% of the stock is currently owned by institutional investors and hedge funds.

Arcus Biosciences News Summary

Here are the key news stories impacting Arcus Biosciences this week:

• Positive Sentiment: Wedbush raised its price target to $49 from $43 and reiterated an “outperform” rating, implying substantial upside from the reference price. The upgrade reflects increased confidence in Arcus’s pipeline following the casdatifan data release. Benzinga analyst rating report
• Positive Sentiment: ARC-20 results showed casdatifan activity across first-, second- and later-line clear cell renal cell carcinoma. Reported progression-free survival and response rates were described as superior or competitive with historical benchmarks, while safety appeared manageable. The breadth of activity supports the potential for casdatifan to become a foundational treatment across multiple lines of therapy. Arcus ARC-20 data report
• Neutral Sentiment: Investor reaction to the data was mixed. Some analysts characterized the results as encouraging and the stock surged during the session, while another report noted an initial 6% decline as investors scrutinized the trial details. The mixed response highlights that additional clinical validation will be important. Seeking Alpha ARC-20 market reaction
• Negative Sentiment: Valuation leaves RCUS vulnerable to clinical setbacks. The stock trades at high sales multiples, reflecting significant expectations for casdatifan and other pipeline assets. Arcus also faces potential pressure from an anticipated loss in the upcoming quarterly report, according to Zacks. Seeking Alpha valuation analysis

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.