Arcus Biosciences, Inc. (NYSE:RCUS) Receives $24.13 Consensus Target Price from Brokerages

Shares of Arcus Biosciences, Inc. (NYSE:RCUS) have earned a consensus recommendation of “Moderate Buy” from the nine research firms that are currently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation, six have given 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 $21.29.

RCUS has been the topic of a number of analyst reports. Wells Fargo & Company reduced their price target on Arcus Biosciences from $29.00 to $26.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 7th. The Goldman Sachs Group cut their target price on Arcus Biosciences from $15.00 to $13.00 and set a “neutral” rating for the company in a research report on Thursday, May 8th. Wedbush reissued an “outperform” rating and set a $33.00 target price on shares of Arcus Biosciences in a report on Wednesday, May 7th. Barclays dropped their price target on Arcus Biosciences from $29.00 to $14.00 and set an “overweight” rating for the company in a research note on Wednesday, April 23rd. Finally, Morgan Stanley reduced their price objective on shares of Arcus Biosciences from $24.00 to $22.00 and set an “overweight” rating on the stock in a research note on Friday, May 9th.

Arcus Biosciences Price Performance

NYSE:RCUS opened at $7.94 on Monday. Arcus Biosciences has a 52 week low of $6.50 and a 52 week high of $18.98. The company has a debt-to-equity ratio of 0.09, a quick ratio of 5.37 and a current ratio of 5.37. The firm’s 50-day simple moving average is $8.80 and its 200 day simple moving average is $10.71. The firm has a market cap of $841.19 million, a price-to-earnings ratio of -1.90 and a beta of 0.83.

Arcus Biosciences (NYSE:RCUS) last announced its earnings results on Tuesday, May 6th. The company reported ($1.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.02) by ($0.12). Arcus Biosciences had a negative return on equity of 70.58% and a negative net margin of 258.94%. The business had revenue of $28.00 million for the quarter, compared to analyst estimates of $38.61 million. During the same quarter in the previous year, the company earned ($0.05) EPS. The business’s revenue for the quarter was down 80.7% on a year-over-year basis. As a group, sell-side analysts predict that Arcus Biosciences will post -3.15 earnings per share for the current year.

Hedge Funds Weigh In On Arcus Biosciences

Several hedge funds and other institutional investors have recently modified their holdings of RCUS. Gilead Sciences Inc. bought a new stake in shares of Arcus Biosciences during the 4th quarter valued at approximately $447,610,000. Woodline Partners LP boosted its position in Arcus Biosciences by 45.5% in the first quarter. Woodline Partners LP now owns 5,127,304 shares of the company’s stock valued at $40,249,000 after buying an additional 1,603,367 shares in the last quarter. Boxer Capital Management LLC acquired a new stake in Arcus Biosciences in the fourth quarter valued at approximately $23,857,000. Vanguard Group Inc. grew its stake in shares of Arcus Biosciences by 24.1% during the first quarter. Vanguard Group Inc. now owns 6,687,800 shares of the company’s stock worth $52,499,000 after buying an additional 1,298,584 shares during the last quarter. Finally, RA Capital Management L.P. bought a new stake in shares of Arcus Biosciences during the first quarter worth $8,920,000. 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.