Arcus Biosciences, Inc. (NYSE:RCUS) Receives $28.38 Consensus Price Target from Analysts

Arcus Biosciences, Inc. (NYSE:RCUS) has been given a consensus rating of “Buy” by the ten analysts that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among analysts that have covered the stock in the last year is $28.38.

RCUS has been the topic of a number of recent analyst reports. Bank of America dropped their price objective on Arcus Biosciences from $22.00 to $17.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 19th. Morgan Stanley reduced their price objective on Arcus Biosciences from $36.00 to $25.00 and set an “overweight” rating for the company in a research report on Tuesday, February 18th. Barclays cut their target price on shares of Arcus Biosciences from $29.00 to $14.00 and set an “overweight” rating for the company in a research note on Wednesday, April 23rd. Finally, HC Wainwright upgraded shares of Arcus Biosciences from a “neutral” rating to a “buy” rating and raised their price target for the stock from $18.00 to $24.00 in a research report on Wednesday, February 26th.

Arcus Biosciences Stock Performance

RCUS opened at $8.11 on Friday. The stock has a 50-day moving average of $8.52 and a 200-day moving average of $12.58. The company has a debt-to-equity ratio of 0.08, a quick ratio of 5.24 and a current ratio of 5.24. Arcus Biosciences has a 52-week low of $6.50 and a 52-week high of $18.98. The company has a market cap of $858.20 million, a PE ratio of -2.57 and a beta of 0.88.

Arcus Biosciences (NYSE:RCUS) last released its quarterly earnings results on Tuesday, May 6th. The company reported ($1.14) EPS for the quarter, missing analysts’ consensus estimates of ($1.02) by ($0.12). Arcus Biosciences had a negative net margin of 102.66% and a negative return on equity of 45.59%. During the same quarter in the prior year, the business posted ($0.05) earnings per share. The firm’s revenue for the quarter was down 80.7% compared to the same quarter last year. As a group, equities research analysts forecast that Arcus Biosciences will post -3.15 earnings per share for the current fiscal year.

Insider Transactions at Arcus Biosciences

In related news, Director Yasunori Kaneko acquired 20,000 shares of the firm’s stock in a transaction on Thursday, February 27th. The shares were purchased at an average price of $10.06 per share, with a total value of $201,200.00. Following the acquisition, the director now directly owns 28,400 shares in the company, valued at $285,704. The trade was a 238.10 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, CEO Terry J. Rosen bought 19,800 shares of the company’s stock in a transaction on Thursday, February 27th. The stock was bought at an average cost of $10.18 per share, with a total value of $201,564.00. Following the completion of the purchase, the chief executive officer now owns 2,554,160 shares of the company’s stock, valued at approximately $26,001,348.80. The trade was a 0.78 % increase in their position. The disclosure for this purchase can be found here. 12.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Arcus Biosciences in the first quarter valued at about $138,000. Y Intercept Hong Kong Ltd acquired a new position in Arcus Biosciences during the 1st quarter valued at about $247,000. Victory Capital Management Inc. boosted its stake in shares of Arcus Biosciences by 36.4% in the 1st quarter. Victory Capital Management Inc. now owns 62,340 shares of the company’s stock valued at $489,000 after purchasing an additional 16,622 shares during the last quarter. Louisiana State Employees Retirement System grew its position in shares of Arcus Biosciences by 21.5% during the 1st quarter. Louisiana State Employees Retirement System now owns 31,700 shares of the company’s stock worth $249,000 after buying an additional 5,600 shares during the period. Finally, Arizona State Retirement System raised its stake in shares of Arcus Biosciences by 34.3% during the first quarter. Arizona State Retirement System now owns 19,604 shares of the company’s stock worth $154,000 after buying an additional 5,010 shares during the last quarter. 92.89% of the stock is currently owned by institutional investors.

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.