Arcus Biosciences, Inc. (NYSE:RCUS) Stock Has Average Target Price of $39.64

Shares of Arcus Biosciences, Inc. (NYSE:RCUS) have earned an average rating of “Moderate Buy” from the sixteen analysts that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $39.36.

Several analysts recently issued reports on the company. The Goldman Sachs Group reissued a “buy” rating and set a $42.00 target price on shares of Arcus Biosciences in a research note on Friday, August 7th. TD Cowen assumed coverage on shares of Arcus Biosciences in a report on Wednesday, September 16th. They set a “buy” rating on the stock. Wells Fargo & Company boosted their price target on Arcus Biosciences from $23.00 to $26.00 and gave the company an “equal weight” rating in a research note on Thursday, August 6th. HC Wainwright boosted their target price on shares of Arcus Biosciences from $32.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, July 20th. Finally, Citigroup increased their price objective on shares of Arcus Biosciences from $45.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, October 21st.

Insider Transactions at Arcus Biosciences

In other Arcus Biosciences news, CAO Alexander Azoy sold 2,827 shares of the business’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $30.00, for a total value of $84,810.00. Following the sale, the chief accounting officer owned 39,581 shares of the company’s stock, valued at $1,187,430. The trade was a 6.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 7.60% of the company’s stock.

Hedge Funds Weigh In On Arcus Biosciences

Institutional investors and hedge funds have recently modified their holdings of the company. Voya Investment Management LLC raised its stake in shares of Arcus Biosciences by 197.6% during the third quarter. Voya Investment Management LLC now owns 51,193 shares of the company’s stock worth $1,322,000 after purchasing an additional 33,992 shares during the last quarter. Public Sector Pension Investment Board grew its position in shares of Arcus Biosciences by 3.1% during the third quarter. Public Sector Pension Investment Board now owns 307,471 shares of the company’s stock worth $7,942,000 after buying an additional 9,315 shares in the last quarter. Hantz Financial Services Inc. boosted its stake in Arcus Biosciences by 47.6% in the third quarter. Hantz Financial Services Inc. now owns 2,937 shares of the company’s stock valued at $76,000 after acquiring an additional 947 shares during the period. Diversified Trust Co bought a new stake in shares of Arcus Biosciences during the 3rd quarter worth about $662,000. Finally, Aberdeen Group plc lifted its holdings in shares of Arcus Biosciences by 62.4% during the third quarter. Aberdeen Group plc now owns 1,056,679 shares of the company’s stock valued at $27,294,000 after purchasing an additional 405,967 shares during the last quarter. Institutional investors and hedge funds own 92.89% of the company’s stock.

Arcus Biosciences Stock Up 0.8%

Shares of NYSE:RCUS opened at $18.82 on Thursday. Arcus Biosciences has a 12-month low of $17.43 and a 12-month high of $31.74. The stock has a market capitalization of $2.71 billion, a price-to-earnings ratio of -5.18 and a beta of 1.04. The stock has a fifty day simple moving average of $23.11 and a two-hundred day simple moving average of $24.48. The company has a current ratio of 3.34, a quick ratio of 3.34 and a debt-to-equity ratio of 0.28.

Arcus Biosciences (NYSE:RCUS) last posted its earnings results on Wednesday, November 4th. The company reported ($1.00) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.89) by ($0.11). The company had revenue of $9.00 million for the quarter, compared to the consensus estimate of $7.58 million. Arcus Biosciences had a negative net margin of 453.00% and a negative return on equity of 91.65%. Arcus Biosciences’s revenue was down 65.4% on a year-over-year basis. During the same quarter in the prior year, the company posted ($1.27) EPS. On average, research analysts anticipate that Arcus Biosciences will post -3.47 earnings per share for the current fiscal year.

About Arcus Biosciences

Arcus Biosciences is a clinical-stage biopharmaceutical company focused on developing medicines for cancer. Founded in 2015 and headquartered in Hayward, California, the company researches therapies that target immune pathways and other processes involved in tumor growth. Its pipeline consists of investigational medicines, including antibody and small-molecule candidates designed to be used alone or in combination. Arcus’s research has focused on areas such as checkpoint inhibition and the adenosine pathway; its candidates are under clinical development and are not established treatments.