Brokerages Set Arcus Biosciences, Inc. (NYSE:RCUS) Price Target at $30.20

Arcus Biosciences, Inc. (NYSE:RCUS) has been given a consensus rating of “Moderate Buy” by the twelve ratings firms that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, seven have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $30.20.

Several research analysts have weighed in on RCUS shares. Morgan Stanley reissued an “equal weight” rating and issued a $20.00 price target (down from $23.00) on shares of Arcus Biosciences in a report on Thursday, January 8th. Leerink Partners boosted their price objective on Arcus Biosciences from $36.00 to $49.00 and gave the stock an “outperform” rating in a report on Monday, March 2nd. Wall Street Zen raised Arcus Biosciences from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Arcus Biosciences in a research note on Wednesday, January 21st. Finally, Citigroup lifted their price target on Arcus Biosciences from $44.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, March 5th.

Arcus Biosciences Price Performance

NYSE:RCUS opened at $20.31 on Wednesday. Arcus Biosciences has a one year low of $6.50 and a one year high of $26.40. The company has a market cap of $2.55 billion, a P/E ratio of -6.15 and a beta of 0.85. The firm’s fifty day moving average price is $21.41 and its two-hundred day moving average price is $20.06. The company has a debt-to-equity ratio of 0.16, a current ratio of 4.36 and a quick ratio of 4.36.

Arcus Biosciences (NYSE:RCUS) last posted its earnings results on Wednesday, February 25th. The company reported ($0.89) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.11) by $0.22. The company had revenue of $33.00 million during the quarter, compared to analysts’ expectations of $24.94 million. Arcus Biosciences had a negative net margin of 142.91% and a negative return on equity of 65.77%. Arcus Biosciences’s quarterly revenue was down 8.3% compared to the same quarter last year. During the same quarter last year, the company posted ($1.03) EPS. Equities analysts expect that Arcus Biosciences will post -3.15 earnings per share for the current year.

Insider Buying and Selling at Arcus Biosciences

In other Arcus Biosciences news, CFO Robert C. Goeltz II sold 6,552 shares of the stock in a transaction on Wednesday, December 31st. The stock was sold at an average price of $23.38, for a total transaction of $153,185.76. Following the transaction, the chief financial officer owned 67,924 shares in the company, valued at $1,588,063.12. This trade represents a 8.80% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Juan C. Jaen sold 31,823 shares of Arcus Biosciences stock in a transaction on Monday, January 5th. The stock was sold at an average price of $21.41, for a total value of $681,330.43. Following the sale, the president directly owned 922,240 shares of the company’s stock, valued at $19,745,158.40. This represents a 3.34% decrease in their position. The SEC filing for this sale provides additional information. 9.60% of the stock is owned by company insiders.

Institutional Trading of Arcus Biosciences

Hedge funds and other institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC grew its position in shares of Arcus Biosciences by 59.1% during the 3rd quarter. GAMMA Investing LLC now owns 2,748 shares of the company’s stock worth $37,000 after purchasing an additional 1,021 shares in the last quarter. Hantz Financial Services Inc. raised its position in shares of Arcus Biosciences by 121.9% in the fourth quarter. Hantz Financial Services Inc. now owns 1,604 shares of the company’s stock valued at $38,000 after buying an additional 881 shares in the last quarter. SBI Securities Co. Ltd. raised its position in shares of Arcus Biosciences by 13,547.6% in the third quarter. SBI Securities Co. Ltd. now owns 2,866 shares of the company’s stock valued at $39,000 after buying an additional 2,845 shares in the last quarter. T. Rowe Price Investment Management Inc. bought a new stake in shares of Arcus Biosciences in the fourth quarter valued at approximately $39,000. Finally, Ameritas Investment Partners Inc. boosted its stake in shares of Arcus Biosciences by 34.3% in the second quarter. Ameritas Investment Partners Inc. now owns 7,038 shares of the company’s stock valued at $57,000 after buying an additional 1,796 shares during the period. Institutional investors and hedge funds own 92.89% of the company’s stock.

Arcus Biosciences Company Profile

Arcus Biosciences is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of novel cancer immunotherapies. The company’s research platform centers on modulating tumor microenvironments and immune checkpoints through both small-molecule and antibody-based candidates. Arcus aims to enhance antitumor immune responses by targeting pathways such as the adenosine axis and inhibitory receptors on immune cells.

The company’s lead clinical programs include etrumadenant, an orally administered A2A adenosine receptor antagonist being evaluated in combination with anti-PD-1 therapy, and domvanalimab, an anti-TIGIT monoclonal antibody.