Arcus Biosciences (NYSE:RCUS) Stock Keeps “Outperform” Rating at Wedbush

Arcus Biosciences (NYSE:RCUS)‘s stock had its “outperform” rating reiterated by equities research analysts at Wedbush in a research note issued to investors on Wednesday, Benzinga reports. They currently have a $43.00 price target on the stock. Wedbush’s price target indicates a potential upside of 67.49% from the company’s previous close.

A number of other equities analysts also recently weighed in on RCUS. Wells Fargo & Company upped their target price on Arcus Biosciences from $23.00 to $26.00 and gave the company an “equal weight” rating in a report on Thursday, August 6th. Lifesci Capital began coverage on shares of Arcus Biosciences in a report on Thursday, June 4th. They set an “outperform” rating and a $46.00 price target for the company. Morgan Stanley set a $23.00 price objective on shares of Arcus Biosciences in a research report on Monday, August 10th. The Goldman Sachs Group reiterated a “buy” rating and issued a $42.00 price objective on shares of Arcus Biosciences in a research note on Friday, August 7th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Arcus Biosciences in a research note on Friday, September 11th. Ten analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Arcus Biosciences has an average rating of “Moderate Buy” and a consensus target price of $38.30.

Arcus Biosciences Stock Performance

Shares of RCUS opened at $25.67 on Wednesday. Arcus Biosciences has a one year low of $12.89 and a one year high of $31.74. The company has a 50-day moving average of $28.08 and a two-hundred day moving average of $26.02. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.82 and a quick ratio of 3.82. The stock has a market cap of $3.27 billion, a price-to-earnings ratio of -6.58 and a beta of 0.81.

Arcus Biosciences (NYSE:RCUS) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($0.72) earnings per share for the quarter, topping the consensus estimate of ($0.89) by $0.17. The firm had revenue of $41.00 million for the quarter, compared to analysts’ expectations of $21.98 million. Arcus Biosciences had a negative net margin of 393.16% and a negative return on equity of 89.54%. Arcus Biosciences’s revenue was down 74.4% on a year-over-year basis. On average, equities research analysts expect that Arcus Biosciences will post -3.53 earnings per share for the current year.

Insider Activity

In related news, President Juan Jaen sold 20,067 shares of the business’s stock in a transaction that occurred on Friday, July 10th. The stock was sold at an average price of $28.62, for a total value of $574,317.54. Following the completion of the sale, the president owned 822,240 shares of the company’s stock, valued at approximately $23,532,508.80. The trade was a 2.38% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Alexander Azoy sold 2,827 shares of the business’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 value of $84,810.00. Following the completion of the sale, the chief accounting officer directly owned 39,581 shares of the company’s stock, valued at approximately $1,187,430. The trade was a 6.67% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 71,396 shares of company stock valued at $2,116,613. 7.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Arcus Biosciences

Several institutional investors and hedge funds have recently modified their holdings of the business. WINTON GROUP Ltd boosted its holdings in Arcus Biosciences by 59.7% in the second quarter. WINTON GROUP Ltd now owns 52,398 shares of the company’s stock worth $1,615,000 after purchasing an additional 19,578 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new position in Arcus Biosciences during the second quarter worth $30,000. Arizona State Retirement System increased its position in Arcus Biosciences by 1.7% during the second quarter. Arizona State Retirement System now owns 24,211 shares of the company’s stock worth $746,000 after buying an additional 409 shares during the last quarter. Nykredit A S bought a new position in Arcus Biosciences during the second quarter valued at about $134,000. Finally, Allianz Asset Management GmbH bought a new position in Arcus Biosciences during the second quarter valued at about $2,542,000. Institutional investors and hedge funds own 92.89% of the company’s stock.

Arcus Biosciences Company Profile

Arcus Biosciences, Inc is a clinical-stage biopharmaceutical company focused on developing medicines for cancer and other serious diseases. The company combines antibody-based therapies, small-molecule drugs and combination treatment strategies designed to influence the immune system and other biological pathways involved in tumor growth.

Its oncology pipeline includes investigational therapies targeting pathways such as TIGIT, PD-1, CD73, adenosine receptors and HIF-2α. Key programs have included domvanalimab, an anti-TIGIT antibody; zimberelimab, an anti-PD-1 antibody; quemliclustat, a CD73 inhibitor; etrumadenant, an adenosine receptor antagonist; and AB521, an HIF-2α inhibitor.