Brokerages Set Arcus Biosciences, Inc. (NYSE:RCUS) Target Price at $33.33

Arcus Biosciences, Inc. (NYSE:RCUS) has been given an average recommendation of “Moderate Buy” by the eleven brokerages that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and seven have given a buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $33.8889.

A number of brokerages have recently commented on RCUS. Morgan Stanley lifted their price target on shares of Arcus Biosciences from $20.00 to $22.00 and gave the stock an “equal weight” rating in a report on Monday, May 11th. Citigroup lifted their price target on shares of Arcus Biosciences from $44.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, March 5th. HC Wainwright reiterated a “buy” rating and set a $32.00 price target on shares of Arcus Biosciences in a report on Monday, March 2nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Arcus Biosciences in a report on Monday, April 20th. Finally, The Goldman Sachs Group lifted their price target on shares of Arcus Biosciences from $30.00 to $34.00 and gave the stock a “buy” rating in a report on Thursday, May 7th.

Insider Activity at Arcus Biosciences

In other news, CFO Robert C. Goeltz II sold 7,763 shares of Arcus Biosciences stock in a transaction on Monday, May 11th. The shares were sold at an average price of $25.63, for a total transaction of $198,965.69. Following the transaction, the chief financial officer owned 84,161 shares in the company, valued at approximately $2,157,046.43. The trade was a 8.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 9.60% of the company’s stock.

Hedge Funds Weigh In On Arcus Biosciences

Hedge funds have recently bought and sold shares of the company. Hantz Financial Services Inc. raised its stake in Arcus Biosciences by 121.9% during the fourth quarter. Hantz Financial Services Inc. now owns 1,604 shares of the company’s stock worth $38,000 after buying an additional 881 shares during the last quarter. SBI Securities Co. Ltd. raised its stake in Arcus Biosciences by 13,547.6% during the third quarter. SBI Securities Co. Ltd. now owns 2,866 shares of the company’s stock worth $39,000 after buying an additional 2,845 shares during the last quarter. T. Rowe Price Investment Management Inc. bought a new position in Arcus Biosciences during the fourth quarter worth $39,000. KBC Group NV bought a new position in Arcus Biosciences during the first quarter worth $50,000. Finally, Strs Ohio bought a new position in Arcus Biosciences during the first quarter worth $67,000. Institutional investors own 92.89% of the company’s stock.

Arcus Biosciences Stock Performance

Shares of Arcus Biosciences stock opened at $23.43 on Thursday. Arcus Biosciences has a fifty-two week low of $7.91 and a fifty-two week high of $28.72. The company has a debt-to-equity ratio of 0.19, a current ratio of 4.04 and a quick ratio of 4.04. The firm has a market capitalization of $2.95 billion, a P/E ratio of -7.37 and a beta of 0.87. The company’s 50 day moving average price is $23.36 and its two-hundred day moving average price is $22.43.

Arcus Biosciences (NYSE:RCUS) last issued its quarterly earnings results on Tuesday, May 5th. The company reported ($1.02) EPS for the quarter, missing analysts’ consensus estimates of ($0.92) by ($0.10). The business had revenue of $17.00 million for the quarter, compared to analyst estimates of $29.49 million. Arcus Biosciences had a negative return on equity of 68.97% and a negative net margin of 156.36%.Arcus Biosciences’s revenue for the quarter was down 39.3% on a year-over-year basis. During the same quarter last year, the firm posted ($1.14) EPS. On average, equities analysts forecast that Arcus Biosciences will post -3.53 earnings per share for the current fiscal year.

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.