Leerink Partners Issues Positive Forecast for Arcus Biosciences (NYSE:RCUS) Stock Price

Arcus Biosciences (NYSE:RCUS) had its price objective raised by Leerink Partners from $46.00 to $49.00 in a report issued on Thursday morning,Benzinga reports. Leerink Partners currently has an outperform rating on the stock.

A number of other equities research analysts also recently issued reports on RCUS. Weiss Ratings reiterated a “sell (d-)” rating on shares of Arcus Biosciences in a research report on Thursday, October 15th. Wedbush decreased their price target on Arcus Biosciences from $49.00 to $45.00 and set an “outperform” rating on the stock in a research note on Thursday. Wall Street Zen cut Arcus Biosciences from a “hold” rating to a “sell” rating in a report on Saturday, October 24th. TD Cowen initiated coverage on Arcus Biosciences in a report on Wednesday, September 16th. They issued a “buy” rating on the stock. Finally, Citigroup raised their price objective on Arcus Biosciences from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, October 21st. Twelve investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $39.36.

Arcus Biosciences Stock Down 8.3%

Shares of NYSE RCUS opened at $17.71 on Thursday. The company has a quick ratio of 3.82, a current ratio of 3.82 and a debt-to-equity ratio of 0.22. Arcus Biosciences has a 52 week low of $17.43 and a 52 week high of $31.74. The firm has a 50-day moving average price of $23.99 and a 200 day moving average price of $24.56. The stock has a market capitalization of $2.26 billion, a price-to-earnings ratio of -4.88 and a beta of 1.04.

Arcus Biosciences (NYSE:RCUS) last released its quarterly earnings data on Wednesday, November 4th. The company reported ($1.00) EPS for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.11). Arcus Biosciences had a negative return on equity of 83.94% and a negative net margin of 453.00%. The company had revenue of $9.00 million for the quarter, compared to analysts’ expectations of $7.58 million. During the same period in the prior year, the firm posted ($1.27) EPS. The firm’s quarterly revenue was down 65.4% on a year-over-year basis. Equities research analysts anticipate that Arcus Biosciences will post -3.55 EPS for the current fiscal year.

Insider Activity at Arcus Biosciences

In related news, CAO Alexander Azoy sold 2,827 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $1,187,430. This represents a 6.67% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 7.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Arcus Biosciences

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Integrated Wealth Concepts LLC purchased a new position in shares of Arcus Biosciences during the 2nd quarter worth approximately $30,000. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Arcus Biosciences during the 3rd quarter worth approximately $45,000. KBC Group NV purchased a new stake in Arcus Biosciences in the 1st quarter valued at approximately $50,000. Sterling Capital Management LLC lifted its stake in Arcus Biosciences by 328.4% in the 3rd quarter. Sterling Capital Management LLC now owns 2,716 shares of the company’s stock valued at $70,000 after buying an additional 2,082 shares in the last quarter. Finally, Royal Bank of Canada lifted its stake in Arcus Biosciences by 14.6% in the 1st quarter. Royal Bank of Canada now owns 4,758 shares of the company’s stock valued at $102,000 after buying an additional 607 shares in the last quarter. Institutional investors and hedge funds own 92.89% of the company’s stock.

Trending Headlines about Arcus Biosciences

Here are the key news stories impacting Arcus Biosciences this week:

• Positive Sentiment: Leerink Partners raised its price target to $49 from $46 and reiterated an “outperform” rating, signaling continued confidence in the shares’ potential. Tickerreport article
• Neutral Sentiment: Truist Financial lowered its target to $40 from $41 but maintained a “buy” rating. Wedbush cut its target to $45 from $49 and kept an “outperform” rating. The target reductions are a headwind, although both firms remain positive on RCUS. Truist price target article
• Negative Sentiment: Arcus reported a third-quarter loss of $1.00 per share, wider than analysts’ expected loss of about $0.89–$0.92. Revenue of $9 million beat the $7.58 million consensus estimate, but fell 65.4% from a year earlier. The earnings miss and sharp revenue decline likely weigh on investor sentiment. Arcus third-quarter results and pipeline update

About Arcus Biosciences

Arcus Biosciences, Inc is a clinical-stage biopharmaceutical company focused on developing therapies for cancer and other serious diseases. The company uses its research platform to discover and advance medicines designed to target immune suppression and other biological mechanisms involved in tumor growth.

Arcus’s oncology pipeline has included antibody-based and small-molecule therapies aimed at targets such as TIGIT, PD-1, CD73, and the adenosine A2A and A2B receptors. Its key development programs have included domvanalimab, zimberelimab, quemliclustat, and etrumadenant, which have been evaluated in clinical studies across several cancer types, including lung, gastrointestinal, and colorectal cancers.

Founded in 2015 and headquartered in Hayward, California, Arcus conducts research and clinical-development activities intended to support potential commercialization in international markets.