Arcus Biosciences, Inc. (NYSE:RCUS) Given Average Rating of “Buy” by Brokerages

Arcus Biosciences, Inc. (NYSE:RCUS) has been assigned a consensus rating of “Buy” from the nine brokerages that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation, seven have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $34.00.

Several equities analysts recently weighed in on the company. HC Wainwright reiterated a “neutral” rating and set a $20.00 target price on shares of Arcus Biosciences in a research report on Wednesday, November 6th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arcus Biosciences in a research report on Thursday, October 3rd. Wedbush reissued an “outperform” rating and issued a $36.00 target price on shares of Arcus Biosciences in a report on Thursday, November 7th. Wells Fargo & Company initiated coverage on shares of Arcus Biosciences in a research note on Tuesday, October 8th. They set an “overweight” rating and a $29.00 target price on the stock. Finally, Barclays raised their target price on shares of Arcus Biosciences from $25.00 to $29.00 and gave the stock an “overweight” rating in a report on Friday, October 25th.

Insider Transactions at Arcus Biosciences

In other news, CFO Robert C. Goeltz II sold 3,594 shares of the firm’s stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $15.00, for a total transaction of $53,910.00. Following the transaction, the chief financial officer now owns 60,138 shares in the company, valued at approximately $902,070. This trade represents a 5.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 12.30% of the company’s stock.

Institutional Investors Weigh In On Arcus Biosciences

Several hedge funds have recently modified their holdings of RCUS. R Squared Ltd purchased a new stake in shares of Arcus Biosciences during the fourth quarter valued at about $26,000. Nordea Investment Management AB lifted its position in Arcus Biosciences by 2.5% during the fourth quarter. Nordea Investment Management AB now owns 218,930 shares of the company’s stock valued at $3,245,000 after acquiring an additional 5,246 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Arcus Biosciences by 2.6% in the third quarter. JPMorgan Chase & Co. now owns 43,685 shares of the company’s stock valued at $668,000 after acquiring an additional 1,117 shares in the last quarter. Barclays PLC grew its holdings in Arcus Biosciences by 49.0% in the third quarter. Barclays PLC now owns 118,693 shares of the company’s stock worth $1,816,000 after purchasing an additional 39,015 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd increased its position in shares of Arcus Biosciences by 100.6% during the third quarter. Y Intercept Hong Kong Ltd now owns 23,581 shares of the company’s stock worth $361,000 after purchasing an additional 11,827 shares in the last quarter. Hedge funds and other institutional investors own 92.89% of the company’s stock.

Arcus Biosciences Trading Down 0.9 %

Arcus Biosciences stock opened at $13.21 on Tuesday. The business has a 50-day simple moving average of $15.30 and a two-hundred day simple moving average of $15.91. Arcus Biosciences has a 52-week low of $12.88 and a 52-week high of $20.31. The company has a quick ratio of 5.24, a current ratio of 5.24 and a debt-to-equity ratio of 0.08. The company has a market cap of $1.21 billion, a P/E ratio of -4.19 and a beta of 0.87.

Arcus Biosciences (NYSE:RCUS) last announced its earnings results on Wednesday, November 6th. The company reported ($1.00) EPS for the quarter, beating analysts’ consensus estimates of ($1.06) by $0.06. The business had revenue of $48.00 million during the quarter, compared to analysts’ expectations of $38.95 million. Arcus Biosciences had a negative net margin of 102.66% and a negative return on equity of 45.59%. The firm’s revenue was up 50.0% on a year-over-year basis. During the same period in the prior year, the company earned ($0.94) earnings per share. Analysts predict that Arcus Biosciences will post -3.2 EPS for the current year.

Arcus Biosciences Company Profile

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.