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

Shares of Arcus Biosciences, Inc. (NYSE:RCUS) have received an average recommendation of “Buy” from the nine research firms that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $34.00.

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

Arcus Biosciences Stock Performance

RCUS opened at $13.99 on Tuesday. The company has a debt-to-equity ratio of 0.08, a current ratio of 5.24 and a quick ratio of 5.24. The business has a fifty day simple moving average of $15.51 and a 200 day simple moving average of $15.93. Arcus Biosciences has a 1 year low of $13.51 and a 1 year high of $20.31. The company has a market capitalization of $1.28 billion, a PE ratio of -4.44 and a beta of 0.87.

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

Insider Activity at Arcus Biosciences

In related news, CFO Robert C. Goeltz II sold 3,594 shares of the company’s stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $15.00, for a total value of $53,910.00. Following the sale, the chief financial officer now directly owns 60,138 shares in the company, valued at $902,070. This represents a 5.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 12.30% of the stock is currently owned by company insiders.

Institutional Trading of Arcus Biosciences

Institutional investors have recently bought and sold shares of the company. American Century Companies Inc. boosted its stake in Arcus Biosciences by 22.5% during the second quarter. American Century Companies Inc. now owns 70,917 shares of the company’s stock worth $1,080,000 after acquiring an additional 13,019 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in Arcus Biosciences by 3.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 58,173 shares of the company’s stock valued at $886,000 after acquiring an additional 1,951 shares during the period. XTX Topco Ltd acquired a new position in Arcus Biosciences during the second quarter worth $590,000. Public Sector Pension Investment Board lifted its stake in shares of Arcus Biosciences by 7.4% in the second quarter. Public Sector Pension Investment Board now owns 120,099 shares of the company’s stock valued at $1,829,000 after buying an additional 8,253 shares in the last quarter. Finally, Point72 DIFC Ltd acquired a new position in shares of Arcus Biosciences during the second quarter valued at about $83,000. Institutional investors own 92.89% of the company’s stock.

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.