Wedbush Issues Positive Forecast for Arcus Biosciences (NYSE:RCUS) Stock Price

Arcus Biosciences (NYSE:RCUS) had its target price lifted by equities research analysts at Wedbush from $43.00 to $49.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Wedbush’s price target indicates a potential upside of 106.86% from the company’s current price.

Several other equities research analysts have also recently issued reports on the stock. The Goldman Sachs Group reaffirmed a “buy” rating and set a $42.00 target price on shares of Arcus Biosciences in a research note on Friday, August 7th. Truist Financial reaffirmed a “buy” rating and set a $40.00 target price (up from $35.00) on shares of Arcus Biosciences in a report on Tuesday, September 8th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Arcus Biosciences in a research report on Friday, September 11th. Wall Street Zen raised shares of Arcus Biosciences from a “sell” rating to a “hold” rating in a research note on Saturday, October 3rd. Finally, William Blair assumed coverage on shares of Arcus Biosciences in a research note on Friday, October 16th. They issued an “outperform” rating on the stock. Twelve analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $39.09.

Arcus Biosciences Stock Performance

Shares of NYSE:RCUS opened at $23.69 on Wednesday. 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 business’s 50 day moving average price is $26.73 and its 200-day moving average price is $26.25. The firm has a market capitalization of $3.02 billion, a PE ratio of -6.07 and a beta of 0.94. Arcus Biosciences has a 1 year low of $16.41 and a 1 year high of $31.74.

Arcus Biosciences (NYSE:RCUS) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($0.72) 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 during the quarter, compared to analysts’ expectations of $21.98 million. The firm’s revenue was down 74.4% compared to the same quarter last year. As a group, equities research analysts expect that Arcus Biosciences will post -3.55 earnings per share for the current fiscal year.

Insider Activity

In related news, CAO Alexander Azoy sold 2,827 shares of the stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $30.00, for a total value of $84,810.00. Following the completion of the sale, the chief accounting officer owned 39,581 shares of the company’s stock, valued at approximately $1,187,430. This trade represents a 6.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 7.60% of the stock is owned by company insiders.

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. acquired a new position in Arcus Biosciences during the second quarter worth $506,113,000. Parkman Healthcare Partners LLC acquired a new stake in shares of Arcus Biosciences in the 2nd quarter worth $28,341,000. Bank of America Corp DE acquired a new stake in shares of Arcus Biosciences in the 2nd quarter worth $25,759,000. Bank of New York Mellon Corp acquired a new stake in shares of Arcus Biosciences in the 2nd quarter worth $16,741,000. Finally, Renaissance Technologies LLC increased its stake in shares of Arcus Biosciences by 1,198.8% in the 1st quarter. Renaissance Technologies LLC now owns 424,700 shares of the company’s stock worth $9,174,000 after acquiring an additional 392,000 shares during the last quarter. Hedge funds and other institutional investors own 92.89% of the company’s stock.

More Arcus Biosciences News

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

• Positive Sentiment: New ARC-20 data showed casdatifan activity across multiple treatment lines in clear-cell renal cell carcinoma, supporting Arcus’s view that the drug could become a foundational treatment throughout the course of kidney-cancer therapy. Arcus Presents New Data from ARC-20
• Positive Sentiment: Coverage highlighted casdatifan’s activity across treatment settings, raising the drug’s commercial potential if results are confirmed in later-stage studies. Casdatifan Shows Activity Across Treatment Lines
• Positive Sentiment: Analysts responded favorably to the ARC-20 platform data, and some coverage framed casdatifan as a potential competitor to major kidney-cancer therapies, helping drive renewed investor interest in RCUS. Arcus rises as analysts cheer ARC-20 data
• Neutral Sentiment: Arcus discussed the results during a special call and investor transcript, giving the market additional detail on casdatifan’s development opportunity but not eliminating clinical-development and regulatory uncertainty. Arcus Biosciences Special Call Transcript
• Negative Sentiment: Investors initially focused on concerns surrounding the trial disclosure, with one report noting a sharp early decline before the stock reversed higher. The mixed reaction indicates that the data may still require validation through later-stage trials. Arcus stock tumbles after casdatifan data
• Negative Sentiment: Zacks warned that Arcus lacks the usual indicators for a likely earnings beat ahead of its third-quarter report, adding near-term pressure given the company’s continuing losses and dependence on clinical milestones. Arcus May Report Negative Earnings

Arcus Biosciences Company Profile

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.