Brokerages Set Arcus Biosciences, Inc. (NYSE:RCUS) PT at $38.30

Shares of Arcus Biosciences, Inc. (NYSE:RCUS) have been given an average recommendation of “Moderate Buy” by the fourteen research firms that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and ten have assigned a buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $38.30.

Several research analysts have recently issued reports on RCUS shares. Morgan Stanley set a $23.00 price target on Arcus Biosciences in a research note on Monday, August 10th. Cantor Fitzgerald restated an “overweight” rating on shares of Arcus Biosciences in a research note on Friday, September 11th. HC Wainwright upped their target price on shares of Arcus Biosciences from $32.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, July 20th. Wedbush boosted their price objective on Arcus Biosciences from $41.00 to $43.00 and gave the company an “outperform” rating in a research report on Thursday, August 6th. Finally, The Goldman Sachs Group reissued a “buy” rating and set a $42.00 target price on shares of Arcus Biosciences in a research note on Friday, August 7th.

Arcus Biosciences Stock Performance

NYSE:RCUS opened at $26.92 on Wednesday. The firm’s fifty day simple moving average is $28.33 and its 200-day simple moving average is $25.95. The company has a quick ratio of 3.82, a current ratio of 3.82 and a debt-to-equity ratio of 0.22. The stock has a market cap of $3.43 billion, a PE ratio of -6.90 and a beta of 0.81. Arcus Biosciences has a fifty-two week low of $12.15 and a fifty-two week high of $31.74.

Arcus Biosciences (NYSE:RCUS) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($0.72) EPS for the quarter, topping analysts’ consensus estimates of ($0.89) by $0.17. The firm had revenue of $41.00 million for the quarter, compared to the consensus estimate of $21.98 million. Arcus Biosciences had a negative net margin of 393.16% and a negative return on equity of 89.54%. The business’s quarterly revenue was down 74.4% on a year-over-year basis. Analysts expect that Arcus Biosciences will post -3.59 earnings per share for the current fiscal year.

Insider Activity

In related news, CAO Alexander Azoy sold 2,827 shares of the business’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $30.00, for a total value of $84,810.00. Following the sale, the chief accounting officer directly owned 39,581 shares in the company, valued at $1,187,430. The trade was a 6.67% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Juan C. Jaen sold 48,502 shares of the stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of $30.05, for a total transaction of $1,457,485.10. Following the sale, the president directly owned 842,307 shares of the company’s stock, valued at approximately $25,311,325.35. This represents a 5.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 71,396 shares of company stock valued at $2,116,613 in the last ninety days. Company insiders own 7.60% of the company’s stock.

Hedge Funds Weigh In On Arcus Biosciences

Hedge funds have recently modified their holdings of the stock. Integrated Wealth Concepts LLC acquired a new position in shares of Arcus Biosciences in the second quarter worth $30,000. Hantz Financial Services Inc. grew its position in Arcus Biosciences by 121.9% in the fourth quarter. Hantz Financial Services Inc. now owns 1,604 shares of the company’s stock valued at $38,000 after acquiring an additional 881 shares during the period. KBC Group NV acquired a new stake in shares of Arcus Biosciences during the 1st quarter worth about $50,000. Royal Bank of Canada increased its holdings in shares of Arcus Biosciences by 14.6% during the first quarter. Royal Bank of Canada now owns 4,758 shares of the company’s stock worth $102,000 after buying an additional 607 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in Arcus Biosciences by 10.0% during the 2nd quarter. GAMMA Investing LLC now owns 3,966 shares of the company’s stock valued at $122,000 after purchasing an additional 359 shares in the last quarter. 92.89% of the stock is currently owned by institutional investors and hedge funds.

Arcus Biosciences Company Profile

Arcus Biosciences, Inc is a clinical-stage biopharmaceutical company focused on developing medicines for cancer and other serious diseases. The company combines antibody-based therapies, small-molecule drugs and combination treatment strategies designed to influence the immune system and other biological pathways involved in tumor growth.

Its oncology pipeline includes investigational therapies targeting pathways such as TIGIT, PD-1, CD73, adenosine receptors and HIF-2α. Key programs have included domvanalimab, an anti-TIGIT antibody; zimberelimab, an anti-PD-1 antibody; quemliclustat, a CD73 inhibitor; etrumadenant, an adenosine receptor antagonist; and AB521, an HIF-2α inhibitor.