Arcus Biosciences, Inc. (NYSE:RCUS) Receives $34.00 Average Target Price from Brokerages

Shares of Arcus Biosciences, Inc. (NYSE:RCUS) have earned an average recommendation of “Buy” from the nine ratings firms that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $34.00.

A number of brokerages have commented on RCUS. Barclays boosted their price objective on Arcus Biosciences from $25.00 to $29.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Wedbush reissued an “outperform” rating and issued a $36.00 price target on shares of Arcus Biosciences in a research report on Thursday, November 7th. HC Wainwright restated a “neutral” rating and set a $20.00 price objective on shares of Arcus Biosciences in a research note on Wednesday, November 6th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Arcus Biosciences in a research note on Thursday, October 3rd. Finally, Wells Fargo & Company initiated coverage on shares of Arcus Biosciences in a research report on Tuesday, October 8th. They set an “overweight” rating and a $29.00 price target on the stock.

Insider Buying and Selling at Arcus Biosciences

In related news, CFO Robert C. Goeltz II sold 3,594 shares of Arcus Biosciences stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $15.00, for a total value of $53,910.00. Following the transaction, the chief financial officer now owns 60,138 shares in the company, valued at $902,070. This trade represents a 5.64 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 12.30% of the company’s stock.

Institutional Investors Weigh In On Arcus Biosciences

Several institutional investors have recently added to or reduced their stakes in the company. R Squared Ltd purchased a new stake in Arcus Biosciences in the fourth quarter worth $26,000. Nordea Investment Management AB raised its holdings in Arcus Biosciences by 2.5% in the 4th quarter. Nordea Investment Management AB now owns 218,930 shares of the company’s stock worth $3,245,000 after purchasing an additional 5,246 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Arcus Biosciences by 2.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 43,685 shares of the company’s stock worth $668,000 after purchasing an additional 1,117 shares during the period. Barclays PLC boosted its stake in shares of Arcus Biosciences by 49.0% during the 3rd quarter. Barclays PLC now owns 118,693 shares of the company’s stock valued at $1,816,000 after purchasing an additional 39,015 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd increased its position in shares of Arcus Biosciences by 100.6% during the third quarter. Y Intercept Hong Kong Ltd now owns 23,581 shares of the company’s stock valued at $361,000 after buying an additional 11,827 shares during the period. Hedge funds and other institutional investors own 92.89% of the company’s stock.

Arcus Biosciences Stock Down 0.6 %

Shares of Arcus Biosciences stock opened at $13.32 on Tuesday. The stock’s 50-day moving average is $15.35 and its 200 day moving average is $15.90. Arcus Biosciences has a one year low of $12.88 and a one year high of $20.31. The firm has a market cap of $1.22 billion, a price-to-earnings ratio of -4.23 and a beta of 0.87. The company has a debt-to-equity ratio of 0.08, a current ratio of 5.24 and a quick ratio of 5.24.

Arcus Biosciences (NYSE:RCUS) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($1.00) earnings per share for the quarter, beating the consensus estimate of ($1.06) by $0.06. The firm had revenue of $48.00 million for the quarter, compared to analyst estimates of $38.95 million. Arcus Biosciences had a negative net margin of 102.66% and a negative return on equity of 45.59%. The business’s quarterly revenue was up 50.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.94) earnings per share. Equities research analysts anticipate that Arcus Biosciences will post -3.2 EPS for the current year.

About Arcus Biosciences

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.