Arcus Biosciences’ (RCUS) “Overweight” Rating Reaffirmed at Cantor Fitzgerald

Arcus Biosciences (NYSE:RCUSGet Rating)‘s stock had its “overweight” rating reiterated by investment analysts at Cantor Fitzgerald in a note issued to investors on Wednesday, PriceTargets.com reports. Cantor Fitzgerald also issued estimates for Arcus Biosciences’ FY2022 earnings at ($4.07) EPS and FY2023 earnings at ($4.70) EPS.

A number of other research analysts have also issued reports on the stock. SVB Leerink reduced their target price on shares of Arcus Biosciences from $66.00 to $49.00 and set an “outperform” rating on the stock in a report on Thursday, August 4th. Citigroup reduced their target price on shares of Arcus Biosciences from $48.00 to $40.00 in a report on Thursday, August 18th. Wedbush reduced their target price on shares of Arcus Biosciences from $42.00 to $36.00 and set an “outperform” rating on the stock in a report on Thursday, August 4th. Finally, Truist Financial reduced their target price on shares of Arcus Biosciences from $77.00 to $50.00 and set a “buy” rating on the stock in a report on Friday, July 8th. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $47.13.

Arcus Biosciences Stock Down 0.2 %

Arcus Biosciences stock opened at $25.21 on Wednesday. Arcus Biosciences has a 52 week low of $16.74 and a 52 week high of $49.10. The firm’s 50-day simple moving average is $26.14 and its 200 day simple moving average is $26.60. The firm has a market capitalization of $1.82 billion, a PE ratio of 35.51 and a beta of 0.75.

Arcus Biosciences (NYSE:RCUSGet Rating) last released its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.93) EPS for the quarter, hitting the consensus estimate of ($0.93). Arcus Biosciences had a net margin of 16.34% and a return on equity of 9.12%. The business had revenue of $26.76 million for the quarter, compared to analyst estimates of $21.00 million. During the same period in the previous year, the firm earned ($1.09) EPS. On average, research analysts expect that Arcus Biosciences will post -4.15 EPS for the current fiscal year.

Insider Transactions at Arcus Biosciences

In other news, COO Jennifer Jarrett sold 12,677 shares of the stock in a transaction dated Friday, September 16th. The shares were sold at an average price of $26.28, for a total transaction of $333,151.56. Following the transaction, the chief operating officer now directly owns 130,942 shares in the company, valued at approximately $3,441,155.76. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 12.70% of the company’s stock.

Institutional Trading of Arcus Biosciences

A number of institutional investors and hedge funds have recently bought and sold shares of the business. State Street Corp increased its position in Arcus Biosciences by 61.3% during the 2nd quarter. State Street Corp now owns 4,435,849 shares of the company’s stock worth $112,404,000 after purchasing an additional 1,685,930 shares in the last quarter. Vanguard Group Inc. increased its position in Arcus Biosciences by 2.5% during the 1st quarter. Vanguard Group Inc. now owns 3,512,114 shares of the company’s stock worth $110,843,000 after purchasing an additional 85,778 shares in the last quarter. Pictet Asset Management SA increased its position in Arcus Biosciences by 23.0% during the 2nd quarter. Pictet Asset Management SA now owns 1,912,551 shares of the company’s stock worth $48,464,000 after purchasing an additional 357,539 shares in the last quarter. Woodline Partners LP grew its position in Arcus Biosciences by 0.4% in the fourth quarter. Woodline Partners LP now owns 1,706,425 shares of the company’s stock valued at $69,059,000 after acquiring an additional 7,312 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its position in Arcus Biosciences by 295.3% in the second quarter. Goldman Sachs Group Inc. now owns 974,132 shares of the company’s stock valued at $24,685,000 after acquiring an additional 727,692 shares in the last quarter. Institutional investors and hedge funds own 72.61% of the company’s stock.

Arcus Biosciences Company Profile

(Get Rating)

Arcus Biosciences, Inc, a clinical-stage biopharmaceutical company, develops and commercializes cancer therapies in the United States. Its product pipeline includes, Etrumadenant, a dual A2a/A2b adenosine receptor antagonist, which is in a Phase 1b/2 clinical trial; and Zimberelimab, an anti-PD-1 antibody that is in Phase 1b clinical trial for monotherapy.

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Analyst Recommendations for Arcus Biosciences (NYSE:RCUS)

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