Brokerages Set Arcus Biosciences, Inc. (NYSE:RCUS) PT at $41.25

Arcus Biosciences, Inc. (NYSE:RCUS) has earned a consensus recommendation of “Moderate Buy” from the eight analysts that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $41.25.

Several equities analysts have recently issued reports on the company. Mizuho decreased their price objective on Arcus Biosciences from $51.00 to $42.00 and set a “buy” rating for the company in a research note on Tuesday, January 30th. Truist Financial reissued a “buy” rating and set a $50.00 target price on shares of Arcus Biosciences in a research report on Monday, March 25th. Finally, Wedbush reissued an “outperform” rating and set a $30.00 target price on shares of Arcus Biosciences in a research report on Thursday, February 22nd.

Arcus Biosciences Price Performance

Shares of Arcus Biosciences stock opened at $15.51 on Friday. The business has a 50-day moving average of $17.55 and a 200 day moving average of $16.64. The stock has a market capitalization of $1.41 billion, a price-to-earnings ratio of -3.74 and a beta of 0.81. Arcus Biosciences has a 12 month low of $12.95 and a 12 month high of $25.47.

Arcus Biosciences (NYSE:RCUS) last announced its quarterly earnings data on Wednesday, February 21st. The company reported ($1.08) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.09) by $0.01. The business had revenue of $31.00 million during the quarter, compared to analysts’ expectations of $28.30 million. Arcus Biosciences had a negative return on equity of 57.17% and a negative net margin of 262.39%. The business’s quarterly revenue was down 8.8% compared to the same quarter last year. During the same quarter last year, the business posted ($0.93) EPS. Equities research analysts anticipate that Arcus Biosciences will post -3.59 earnings per share for the current year.

Insiders Place Their Bets

In related news, major shareholder Gilead Sciences, Inc. bought 15,238,095 shares of the firm’s stock in a transaction dated Monday, January 29th. The stock was bought at an average price of $21.00 per share, with a total value of $319,999,995.00. Following the completion of the transaction, the insider now directly owns 30,061,124 shares of the company’s stock, valued at $631,283,604. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, COO Jennifer Jarrett sold 11,551 shares of the company’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $17.55, for a total value of $202,720.05. Following the completion of the sale, the chief operating officer now owns 215,253 shares of the company’s stock, valued at $3,777,690.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Gilead Sciences, Inc. bought 15,238,095 shares of the firm’s stock in a transaction dated Monday, January 29th. The stock was bought at an average cost of $21.00 per share, with a total value of $319,999,995.00. Following the transaction, the insider now directly owns 30,061,124 shares of the company’s stock, valued at $631,283,604. The disclosure for this purchase can be found here. Insiders sold 53,455 shares of company stock worth $1,014,779 over the last three months. 13.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Arcus Biosciences

Several institutional investors and hedge funds have recently modified their holdings of the stock. Spartan Fund Management Inc. purchased a new position in Arcus Biosciences in the first quarter valued at about $38,000. Allspring Global Investments Holdings LLC boosted its holdings in Arcus Biosciences by 9.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 12,940 shares of the company’s stock valued at $244,000 after purchasing an additional 1,090 shares during the last quarter. Diversified Trust Co purchased a new position in Arcus Biosciences in the first quarter valued at about $228,000. GAMMA Investing LLC boosted its holdings in Arcus Biosciences by 51.6% in the first quarter. GAMMA Investing LLC now owns 2,427 shares of the company’s stock valued at $46,000 after purchasing an additional 826 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Arcus Biosciences by 4.2% in the fourth quarter. Vanguard Group Inc. now owns 4,680,716 shares of the company’s stock valued at $89,402,000 after purchasing an additional 186,898 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, 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.