Arcus Biosciences, Inc. (NYSE:RCUS) Receives Average Recommendation of “Moderate Buy” from Brokerages

Arcus Biosciences, Inc. (NYSE:RCUS) has received an average rating of “Moderate Buy” from the eleven analysts that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and seven have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $28.6667.

Several equities analysts recently issued reports on the company. Wells Fargo & Company upped their price objective on Arcus Biosciences from $25.00 to $29.00 and gave the company an “overweight” rating in a research report on Monday, October 20th. The Goldman Sachs Group upped their price target on Arcus Biosciences from $14.00 to $16.00 and gave the company a “neutral” rating in a report on Thursday, October 30th. Citigroup reaffirmed a “buy” rating on shares of Arcus Biosciences in a research report on Friday, December 12th. HC Wainwright boosted their target price on Arcus Biosciences from $28.00 to $32.00 and gave the stock a “buy” rating in a research report on Friday, December 12th. Finally, Morgan Stanley restated an “equal weight” rating and set a $20.00 target price (down previously from $23.00) on shares of Arcus Biosciences in a research note on Thursday.

Insider Activity

In other Arcus Biosciences news, CEO Terry J. Rosen sold 28,947 shares of the stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $21.88, for a total value of $633,360.36. Following the transaction, the chief executive officer owned 2,220,553 shares of the company’s stock, valued at approximately $48,585,699.64. This represents a 1.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Jennifer Jarrett sold 11,225 shares of the firm’s stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $21.88, for a total value of $245,603.00. Following the completion of the transaction, the chief operating officer directly owned 203,007 shares in the company, valued at $4,441,793.16. The trade was a 5.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 422,060 shares of company stock valued at $9,286,202 in the last ninety days. 9.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Arcus Biosciences

Institutional investors and hedge funds have recently made changes to their positions in the business. Bank of America Corp DE increased its holdings in Arcus Biosciences by 173.5% during the third quarter. Bank of America Corp DE now owns 1,360,781 shares of the company’s stock valued at $18,507,000 after buying an additional 863,162 shares during the last quarter. Fisher Asset Management LLC increased its stake in shares of Arcus Biosciences by 727.1% in the 3rd quarter. Fisher Asset Management LLC now owns 729,153 shares of the company’s stock worth $9,916,000 after purchasing an additional 640,990 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Arcus Biosciences by 106.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 914,208 shares of the company’s stock worth $7,177,000 after purchasing an additional 470,755 shares in the last quarter. Decheng Capital LLC raised its holdings in Arcus Biosciences by 242.3% in the 3rd quarter. Decheng Capital LLC now owns 547,609 shares of the company’s stock worth $7,447,000 after purchasing an additional 387,609 shares during the period. Finally, Candriam S.C.A. bought a new stake in Arcus Biosciences during the third quarter valued at about $5,147,000. Hedge funds and other institutional investors own 92.89% of the company’s stock.

Arcus Biosciences Stock Down 7.8%

NYSE:RCUS opened at $21.39 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.65 and a current ratio of 3.65. The firm has a market cap of $2.31 billion, a P/E ratio of -6.22 and a beta of 0.77. Arcus Biosciences has a fifty-two week low of $6.50 and a fifty-two week high of $26.40. The firm has a 50-day simple moving average of $22.57 and a two-hundred day simple moving average of $15.45.

Arcus Biosciences (NYSE:RCUS) last posted its quarterly earnings results on Tuesday, October 28th. The company reported ($1.27) EPS for the quarter, beating analysts’ consensus estimates of ($1.33) by $0.06. The firm had revenue of $26.00 million for the quarter, compared to analysts’ expectations of $19.89 million. Arcus Biosciences had a negative net margin of 136.40% and a negative return on equity of 68.17%. The business’s revenue for the quarter was down 45.8% on a year-over-year basis. During the same quarter in the prior year, the company posted ($1.00) earnings per share. Analysts predict that Arcus Biosciences will post -3.15 earnings per share for the current fiscal year.

Arcus Biosciences Company Profile

Arcus Biosciences is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of novel cancer immunotherapies. The company’s research platform centers on modulating tumor microenvironments and immune checkpoints through both small-molecule and antibody-based candidates. Arcus aims to enhance antitumor immune responses by targeting pathways such as the adenosine axis and inhibitory receptors on immune cells.

The company’s lead clinical programs include etrumadenant, an orally administered A2A adenosine receptor antagonist being evaluated in combination with anti-PD-1 therapy, and domvanalimab, an anti-TIGIT monoclonal antibody.