Arcus Biosciences, Inc. (NYSE:RCUS) Receives $30.25 Average Price Target from Brokerages

Shares of Arcus Biosciences, Inc. (NYSE:RCUS) have been assigned a consensus recommendation of “Buy” from the ten analysts that are covering the firm, Marketbeat reports. One analyst has rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $30.25.

RCUS has been the subject of a number of recent analyst reports. Morgan Stanley reduced their price objective on shares of Arcus Biosciences from $36.00 to $25.00 and set an “overweight” rating for the company in a research report on Tuesday, February 18th. Bank of America cut their price objective on shares of Arcus Biosciences from $22.00 to $17.00 and set a “neutral” rating for the company in a research report on Wednesday, February 19th. Finally, HC Wainwright upgraded Arcus Biosciences from a “neutral” rating to a “buy” rating and lifted their price target for the company from $18.00 to $24.00 in a research report on Wednesday, February 26th.

Arcus Biosciences Stock Performance

Shares of Arcus Biosciences stock opened at $9.15 on Friday. The firm has a market capitalization of $962.43 million, a P/E ratio of -2.91 and a beta of 1.36. Arcus Biosciences has a fifty-two week low of $8.95 and a fifty-two week high of $19.11. 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 company’s 50 day moving average price is $12.13 and its two-hundred day moving average price is $14.82.

Arcus Biosciences (NYSE:RCUS) last posted its quarterly earnings data on Tuesday, February 25th. The company reported ($1.03) EPS for the quarter, topping analysts’ consensus estimates of ($1.17) by $0.14. Arcus Biosciences had a negative return on equity of 45.59% and a negative net margin of 102.66%. The company had revenue of $36.00 million for the quarter, compared to analyst estimates of $29.38 million. On average, equities analysts forecast that Arcus Biosciences will post -3.15 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Robert C. Goeltz II sold 3,594 shares of the company’s stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $15.00, for a total value of $53,910.00. Following the transaction, the chief financial officer now owns 60,138 shares in the company, valued at $902,070. The trade was a 5.64 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Yasunori Kaneko acquired 20,000 shares of Arcus Biosciences stock in a transaction that occurred on Thursday, February 27th. The stock was acquired at an average price of $10.06 per share, with a total value of $201,200.00. Following the completion of the acquisition, the director now directly owns 28,400 shares in the company, valued at $285,704. This represents a 238.10 % increase in their position. The disclosure for this purchase can be found here. 12.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in RCUS. Gilead Sciences Inc. purchased a new position in shares of Arcus Biosciences during the fourth quarter valued at $447,610,000. Boxer Capital Management LLC bought a new stake in shares of Arcus Biosciences in the 4th quarter valued at about $23,857,000. Braidwell LP bought a new stake in shares of Arcus Biosciences in the 4th quarter valued at about $11,943,000. Millennium Management LLC lifted its position in shares of Arcus Biosciences by 277.1% in the 4th quarter. Millennium Management LLC now owns 924,369 shares of the company’s stock worth $13,764,000 after purchasing an additional 679,267 shares during the period. Finally, Parkman Healthcare Partners LLC increased its holdings in Arcus Biosciences by 146.9% during the third quarter. Parkman Healthcare Partners LLC now owns 1,025,754 shares of the company’s stock valued at $15,684,000 after buying an additional 610,219 shares during the period. Institutional investors 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.