Arcus Biosciences (NYSE:RCUS) Price Target Raised to $49.00

Arcus Biosciences (NYSE:RCUS) had its price objective upped by investment analysts at Leerink Partners from $46.00 to $49.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Leerink Partners‘s price objective indicates a potential upside of 170.33% from the stock’s current price.

A number of other brokerages also recently issued reports on RCUS. TD Cowen initiated coverage on Arcus Biosciences in a research report on Wednesday, September 16th. They set a “buy” rating on the stock. HC Wainwright raised their price objective on Arcus Biosciences from $32.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, July 20th. Morgan Stanley set a $23.00 price objective on Arcus Biosciences in a report on Monday, August 10th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Arcus Biosciences in a research report on Friday, September 11th. Finally, The Goldman Sachs Group reissued a “buy” rating and set a $42.00 target price on shares of Arcus Biosciences in a report on Friday, August 7th. Twelve research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Arcus Biosciences presently has a consensus rating of “Moderate Buy” and a consensus price target of $39.36.

Arcus Biosciences Stock Performance

NYSE RCUS traded down $1.18 during trading on Thursday, reaching $18.13. The company’s stock had a trading volume of 1,119,251 shares, compared to its average volume of 1,421,820. The company has a current ratio of 3.82, a quick ratio of 3.82 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $2.31 billion, a price-to-earnings ratio of -4.65 and a beta of 1.04. Arcus Biosciences has a 12 month low of $17.43 and a 12 month high of $31.74. The firm has a 50 day moving average price of $24.26 and a 200 day moving average price of $24.58.

Arcus Biosciences (NYSE:RCUS) last announced its earnings results on Wednesday, November 4th. The company reported ($1.00) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.11). Arcus Biosciences had a negative return on equity of 89.54% and a negative net margin of 393.16%. The business had revenue of $9.00 million for the quarter, compared to analyst estimates of $7.58 million. During the same quarter in the previous year, the company earned ($1.27) EPS. The business’s revenue for the quarter was down 65.4% on a year-over-year basis. As a group, equities analysts anticipate that Arcus Biosciences will post -3.55 EPS for the current fiscal year.

Insider Buying and Selling at Arcus Biosciences

In other news, CAO Alexander Azoy sold 2,827 shares of the company’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $30.00, for a total transaction of $84,810.00. Following the completion of the sale, the chief accounting officer owned 39,581 shares of the company’s stock, valued at approximately $1,187,430. This represents a 6.67% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 7.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in Arcus Biosciences in the 2nd quarter valued at approximately $506,113,000. Parkman Healthcare Partners LLC acquired a new stake in Arcus Biosciences in the second quarter valued at approximately $28,341,000. Bank of America Corp DE bought a new stake in shares of Arcus Biosciences during the second quarter worth $25,759,000. Bank of New York Mellon Corp acquired a new position in shares of Arcus Biosciences during the second quarter worth $16,741,000. Finally, PDT Partners LLC acquired a new position in shares of Arcus Biosciences during the second quarter worth $9,976,000. 92.89% of the stock is owned by institutional investors.

Arcus Biosciences News Summary

Here are the key news stories impacting Arcus Biosciences this week:

• Positive Sentiment: Quarterly revenue was $9.0 million, above the $7.58 million consensus estimate cited in the earnings report, though it was down 65.4% from a year earlier. Quarterly results
• Neutral Sentiment: Truist cut its price target from $41 to $40 but maintained a Buy rating; Wedbush reduced its target from $49 to $45 while retaining an Outperform rating. The target reductions are a modest negative signal, but both firms remain bullish. Truist price target update
• Negative Sentiment: Arcus reported a third-quarter loss of $1.00 per share, wider than analysts’ expected loss of $0.89, weighing on sentiment. The company remains unprofitable, and revenue fell sharply year over year. Arcus third-quarter results and pipeline update

Arcus Biosciences Company Profile

Arcus Biosciences, Inc is a clinical-stage biopharmaceutical company focused on developing therapies for cancer and other serious diseases. The company uses its research platform to discover and advance medicines designed to target immune suppression and other biological mechanisms involved in tumor growth.

Arcus’s oncology pipeline has included antibody-based and small-molecule therapies aimed at targets such as TIGIT, PD-1, CD73, and the adenosine A2A and A2B receptors. Its key development programs have included domvanalimab, zimberelimab, quemliclustat, and etrumadenant, which have been evaluated in clinical studies across several cancer types, including lung, gastrointestinal, and colorectal cancers.

Founded in 2015 and headquartered in Hayward, California, Arcus conducts research and clinical-development activities intended to support potential commercialization in international markets.