Brokerages Set Arcus Biosciences, Inc. (NYSE:RCUS) Target Price at $35.71

Shares of Arcus Biosciences, Inc. (NYSE:RCUS) have been assigned a consensus recommendation of “Buy” from the eight brokerages that are currently covering the stock, MarketBeat.com reports. Seven analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $35.71.

Several analysts have recently weighed in on RCUS shares. Truist Financial reduced their target price on Arcus Biosciences from $50.00 to $44.00 and set a “buy” rating for the company in a report on Monday, June 24th. Barclays dropped their price target on Arcus Biosciences from $35.00 to $25.00 and set an “overweight” rating on the stock in a research report on Monday, July 8th. Citigroup boosted their price target on Arcus Biosciences from $36.00 to $38.00 and gave the company a “buy” rating in a research report on Monday, June 3rd. Wedbush restated an “outperform” rating and issued a $30.00 price target on shares of Arcus Biosciences in a research report on Friday, August 9th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Arcus Biosciences in a research report on Friday, August 9th.

Arcus Biosciences Price Performance

Shares of NYSE RCUS opened at $15.60 on Wednesday. The company has a market capitalization of $1.42 billion, a price-to-earnings ratio of -5.02 and a beta of 0.90. The business has a 50-day moving average of $16.06 and a two-hundred day moving average of $16.18. Arcus Biosciences has a 1 year low of $12.95 and a 1 year high of $20.31.

Arcus Biosciences (NYSE:RCUS) last posted its earnings results on Thursday, August 8th. The company reported ($1.02) earnings per share for the quarter, meeting the consensus estimate of ($1.02). Arcus Biosciences had a negative return on equity of 42.86% and a negative net margin of 100.81%. The business had revenue of $39.00 million during the quarter, compared to the consensus estimate of $26.24 million. During the same period in the previous year, the business earned ($1.04) EPS. The business’s quarterly revenue was up 34.5% on a year-over-year basis. As a group, equities research analysts expect that Arcus Biosciences will post -3.03 earnings per share for the current year.

Hedge Funds Weigh In On Arcus Biosciences

Several institutional investors and hedge funds have recently added to or reduced their stakes in RCUS. Charles Schwab Investment Management Inc. increased its position in Arcus Biosciences by 2.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 472,182 shares of the company’s stock worth $9,019,000 after purchasing an additional 11,341 shares during the period. BNP Paribas Financial Markets increased its position in Arcus Biosciences by 32.5% during the 4th quarter. BNP Paribas Financial Markets now owns 110,366 shares of the company’s stock worth $2,108,000 after purchasing an additional 27,048 shares during the period. Dimensional Fund Advisors LP increased its position in Arcus Biosciences by 11.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,594,609 shares of the company’s stock worth $30,459,000 after purchasing an additional 158,094 shares during the period. Principal Financial Group Inc. increased its position in Arcus Biosciences by 1.0% during the 4th quarter. Principal Financial Group Inc. now owns 332,814 shares of the company’s stock worth $6,357,000 after purchasing an additional 3,372 shares during the period. Finally, Quest Partners LLC acquired a new position in Arcus Biosciences during the 4th quarter worth approximately $77,000. Institutional investors and hedge funds own 92.89% of the company’s stock.

About Arcus Biosciences

Arcus Biosciences, Inc, a clinical-stage biopharmaceutical company, develops and commercializes cancer therapies in the United States. The company's pipeline products include Domvanalimab, an anti-TIGIT antibody, which is in Phase 2 and Phase 3 clinical trial; and AB308, an investigational anti-TIGIT monoclonal antibody, which is in Phase 1b clinical trial to study people with advanced solid and hematologic malignancies.