Arcus Biosciences (NYSE:RCUS) Upgraded at HC Wainwright

HC Wainwright upgraded shares of Arcus Biosciences (NYSE:RCUS) from a neutral rating to a buy rating in a research report released on Wednesday, MarketBeat.com reports. They currently have $24.00 price objective on the stock, up from their prior price objective of $18.00. HC Wainwright also issued estimates for Arcus Biosciences’ Q1 2025 earnings at ($1.12) EPS, Q2 2025 earnings at ($0.93) EPS, Q3 2025 earnings at ($0.97) EPS, Q4 2025 earnings at ($0.96) EPS, FY2025 earnings at ($3.97) EPS, FY2026 earnings at ($4.50) EPS, FY2027 earnings at ($4.67) EPS, FY2028 earnings at ($2.89) EPS and FY2029 earnings at ($1.96) EPS.

RCUS has been the subject of a number of other research reports. Bank of America reduced their target price on Arcus Biosciences from $22.00 to $17.00 and set a “neutral” rating for the company in a report on Wednesday, February 19th. Wedbush reaffirmed an “outperform” rating and set a $36.00 target price on shares of Arcus Biosciences in a report on Thursday, November 7th. Finally, Morgan Stanley cut their price objective on Arcus Biosciences from $36.00 to $25.00 and set an “overweight” rating for the company in a report on Tuesday, February 18th. One equities research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $30.25.

Arcus Biosciences Trading Up 10.2 %

Shares of Arcus Biosciences stock opened at $10.89 on Wednesday. Arcus Biosciences has a 52-week low of $9.85 and a 52-week high of $20.00. The stock’s 50-day simple moving average is $13.37 and its 200 day simple moving average is $15.40. The stock has a market capitalization of $1.14 billion, a P/E ratio of -3.46 and a beta of 0.84. The company has a debt-to-equity ratio of 0.08, a quick ratio of 5.24 and a current ratio of 5.24.

Arcus Biosciences (NYSE:RCUS) last posted its earnings results on Tuesday, February 25th. The company reported ($1.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.17) by $0.14. The business had revenue of $36.00 million during the quarter, compared to analyst estimates of $29.38 million. Arcus Biosciences had a negative return on equity of 45.59% and a negative net margin of 102.66%. As a group, research analysts anticipate that Arcus Biosciences will post -3.15 EPS for the current year.

Insider Transactions at Arcus Biosciences

In related news, CFO Robert C. Goeltz II sold 3,594 shares of the business’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 completion of the sale, 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Terry J. Rosen bought 19,800 shares of the company’s stock in a transaction that occurred on Thursday, February 27th. The stock was purchased at an average price of $10.18 per share, with a total value of $201,564.00. Following the transaction, the chief executive officer now directly owns 2,554,160 shares in the company, valued at $26,001,348.80. The trade was a 0.78 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 12.30% of the stock is owned by insiders.

Institutional Trading of Arcus Biosciences

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Gilead Sciences Inc. bought a new stake in Arcus Biosciences in the fourth quarter valued at approximately $447,610,000. FMR LLC lifted its position in Arcus Biosciences by 6.9% in the third quarter. FMR LLC now owns 4,467,557 shares of the company’s stock valued at $68,309,000 after purchasing an additional 286,766 shares during the last quarter. Woodline Partners LP lifted its position in Arcus Biosciences by 1.3% in the fourth quarter. Woodline Partners LP now owns 3,523,937 shares of the company’s stock valued at $52,471,000 after purchasing an additional 45,497 shares during the last quarter. Point72 Asset Management L.P. lifted its position in Arcus Biosciences by 32.9% in the third quarter. Point72 Asset Management L.P. now owns 2,437,073 shares of the company’s stock valued at $37,263,000 after purchasing an additional 603,222 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Arcus Biosciences by 11.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,702,302 shares of the company’s stock valued at $25,348,000 after purchasing an additional 178,351 shares during the last quarter. 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.