Arcus Biosciences (NYSE:RCUS) Given New $40.00 Price Target at Truist Financial

Arcus Biosciences (NYSE:RCUS) had its price target reduced by Truist Financial from $41.00 to $40.00 in a research note released on Thursday,Benzinga reports. Truist Financial currently has a buy rating on the stock.

Several other research analysts have also issued reports on RCUS. Weiss Ratings restated a “sell (d-)” rating on shares of Arcus Biosciences in a research report on Thursday, October 15th. The Goldman Sachs Group reiterated a “buy” rating and set a $42.00 price objective on shares of Arcus Biosciences in a research report on Friday, August 7th. Citigroup raised their price objective on Arcus Biosciences from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, October 21st. Morgan Stanley set a $23.00 target price on Arcus Biosciences in a report on Monday, August 10th. Finally, Wall Street Zen cut Arcus Biosciences from a “hold” rating to a “sell” rating in a report on Saturday, October 24th. Twelve equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $39.36.

Arcus Biosciences Stock Down 8.3%

RCUS opened at $17.71 on Thursday. Arcus Biosciences has a one year low of $17.43 and a one year high of $31.74. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.82 and a current ratio of 3.82. The stock’s fifty day moving average is $23.99 and its 200-day moving average is $24.56. The company has a market capitalization of $2.26 billion, a PE ratio of -4.88 and a beta of 1.04.

Arcus Biosciences (NYSE:RCUS) last released its earnings results on Wednesday, November 4th. The company reported ($1.00) EPS for the quarter, missing the consensus estimate of ($0.89) by ($0.11). Arcus Biosciences had a negative net margin of 453.00% and a negative return on equity of 83.94%. The business had revenue of $9.00 million for the quarter, compared to analyst estimates of $7.58 million. During the same period in the prior year, the company earned ($1.27) earnings per share. The firm’s revenue for the quarter was down 65.4% on a year-over-year basis. On average, equities analysts predict that Arcus Biosciences will post -3.55 EPS for the current fiscal year.

Insider Activity

In other news, CAO Alexander Azoy sold 2,827 shares of the stock in a transaction 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 completion of the sale, the chief accounting officer owned 39,581 shares in the company, valued at $1,187,430. This represents a 6.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 7.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Bank of New York Mellon Corp acquired a new position in Arcus Biosciences during the second quarter valued at $16,741,000. Legal & General Group Plc acquired a new stake in Arcus Biosciences during the 2nd quarter worth about $5,906,000. BlackRock Inc. acquired a new stake in Arcus Biosciences during the 2nd quarter worth about $506,113,000. Corient Private Wealth LP acquired a new stake in Arcus Biosciences during the 2nd quarter worth about $1,823,000. Finally, Y Intercept Hong Kong Ltd purchased a new position in Arcus Biosciences during the 1st quarter valued at about $1,862,000. Hedge funds and other institutional investors own 92.89% of the company’s stock.

Key Headlines Impacting Arcus Biosciences

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

• Positive Sentiment: Leerink Partners raised its price target to $49 from $46 and reiterated an “outperform” rating, signaling continued confidence in the shares’ potential. Tickerreport article
• Neutral Sentiment: Truist Financial lowered its target to $40 from $41 but maintained a “buy” rating. Wedbush cut its target to $45 from $49 and kept an “outperform” rating. The target reductions are a headwind, although both firms remain positive on RCUS. Truist price target article
• Negative Sentiment: Arcus reported a third-quarter loss of $1.00 per share, wider than analysts’ expected loss of about $0.89–$0.92. Revenue of $9 million beat the $7.58 million consensus estimate, but fell 65.4% from a year earlier. The earnings miss and sharp revenue decline likely weigh on investor sentiment. Arcus third-quarter results and pipeline update

About Arcus Biosciences

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.