HC Wainwright Raises Arcus Biosciences (NYSE:RCUS) Price Target to $45.00

Arcus Biosciences (NYSE:RCUS) had its target price lifted by stock analysts at HC Wainwright from $32.00 to $45.00 in a report released on Monday, MarketBeat Ratings reports. The brokerage presently has a “buy” rating on the stock. HC Wainwright’s price objective would suggest a potential upside of 52.76% from the stock’s current price.

A number of other equities analysts have also recently commented on the stock. The Goldman Sachs Group lifted their price objective on shares of Arcus Biosciences from $30.00 to $34.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Morgan Stanley upped their target price on shares of Arcus Biosciences from $20.00 to $22.00 and gave the company an “equal weight” rating in a research report on Monday, May 11th. Wedbush increased their price target on shares of Arcus Biosciences from $37.00 to $41.00 and gave the company an “outperform” rating in a report on Thursday, April 2nd. Wall Street Zen lowered Arcus Biosciences from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Arcus Biosciences in a research report on Friday. Eight research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $36.40.

Arcus Biosciences Stock Up 4.6%

NYSE RCUS opened at $29.46 on Monday. The stock has a 50 day moving average price of $26.30 and a 200-day moving average price of $23.73. Arcus Biosciences has a one year low of $8.84 and a one year high of $31.74. The company has a debt-to-equity ratio of 0.19, a quick ratio of 4.04 and a current ratio of 4.04. The company has a market capitalization of $3.71 billion, a P/E ratio of -9.26 and a beta of 0.80.

Arcus Biosciences (NYSE:RCUS) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($1.02) earnings per share for the quarter, missing the consensus estimate of ($0.92) by ($0.10). The business had revenue of $17.00 million during the quarter, compared to the consensus estimate of $29.48 million. Arcus Biosciences had a negative return on equity of 68.97% and a negative net margin of 156.36%.The company’s revenue for the quarter was down 39.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($1.14) EPS. As a group, equities analysts predict that Arcus Biosciences will post -3.66 EPS for the current fiscal year.

Insider Transactions at Arcus Biosciences

In related news, CFO Robert C. Goeltz II sold 7,763 shares of Arcus Biosciences stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $25.63, for a total transaction of $198,965.69. Following the completion of the sale, the chief financial officer owned 84,161 shares in the company, valued at $2,157,046.43. This trade represents a 8.45% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Alexander Azoy sold 2,562 shares of the business’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $25.77, for a total transaction of $66,022.74. Following the completion of the sale, the chief accounting officer directly owned 39,581 shares of the company’s stock, valued at approximately $1,020,002.37. This trade represents a 6.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 110,325 shares of company stock worth $3,174,319. Insiders own 7.60% of the company’s stock.

Hedge Funds Weigh In On Arcus Biosciences

Institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC lifted its position in Arcus Biosciences by 10.0% during the second quarter. GAMMA Investing LLC now owns 3,966 shares of the company’s stock valued at $122,000 after acquiring an additional 359 shares during the last quarter. Royal Bank of Canada grew its holdings in Arcus Biosciences by 14.6% in the first quarter. Royal Bank of Canada now owns 4,758 shares of the company’s stock worth $102,000 after purchasing an additional 607 shares during the last quarter. Creative Planning increased its position in shares of Arcus Biosciences by 2.7% during the third quarter. Creative Planning now owns 29,629 shares of the company’s stock worth $403,000 after purchasing an additional 771 shares in the last quarter. Hantz Financial Services Inc. lifted its holdings in shares of Arcus Biosciences by 121.9% during the 4th quarter. Hantz Financial Services Inc. now owns 1,604 shares of the company’s stock valued at $38,000 after purchasing an additional 881 shares during the last quarter. Finally, New York State Teachers Retirement System boosted its position in shares of Arcus Biosciences by 1.1% in the 4th quarter. New York State Teachers Retirement System now owns 92,431 shares of the company’s stock worth $2,203,000 after purchasing an additional 1,000 shares in the last quarter. 92.89% of the stock is owned by hedge funds and other institutional investors.

About Arcus Biosciences

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.