Brokerages Set Arcus Biosciences, Inc. (NYSE:RCUS) Price Target at $30.20

Arcus Biosciences, Inc. (NYSE:RCUS) has been assigned a consensus rating of “Moderate Buy” from the twelve ratings firms that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation, seven have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $30.20.

A number of brokerages have commented on RCUS. HC Wainwright reissued a “buy” rating and set a $32.00 price objective on shares of Arcus Biosciences in a report on Monday, March 2nd. Citigroup raised their target price on Arcus Biosciences from $44.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, March 5th. Leerink Partners lifted their target price on Arcus Biosciences from $36.00 to $49.00 and gave the company an “outperform” rating in a research report on Monday, March 2nd. Morgan Stanley reiterated an “equal weight” rating and set a $20.00 price target (down from $23.00) on shares of Arcus Biosciences in a report on Thursday, January 8th. Finally, Wall Street Zen raised Arcus Biosciences from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th.

Arcus Biosciences Stock Up 0.1%

Shares of NYSE RCUS opened at $20.31 on Wednesday. The stock has a market capitalization of $2.55 billion, a P/E ratio of -6.15 and a beta of 0.85. The company has a 50-day moving average price of $21.41 and a 200-day moving average price of $20.18. Arcus Biosciences has a 1 year low of $6.50 and a 1 year high of $26.40. The company has a debt-to-equity ratio of 0.16, a current ratio of 4.36 and a quick ratio of 4.36.

Arcus Biosciences (NYSE:RCUS) last posted its earnings results on Wednesday, February 25th. The company reported ($0.89) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.11) by $0.22. Arcus Biosciences had a negative net margin of 142.91% and a negative return on equity of 65.77%. The company had revenue of $33.00 million for the quarter, compared to analyst estimates of $24.94 million. During the same quarter in the prior year, the business posted ($1.03) EPS. The firm’s revenue was down 8.3% compared to the same quarter last year. On average, equities research analysts forecast that Arcus Biosciences will post -3.15 EPS for the current fiscal year.

Insider Buying and Selling at Arcus Biosciences

In other Arcus Biosciences news, President Juan C. Jaen sold 31,823 shares of Arcus Biosciences stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $21.41, for a total transaction of $681,330.43. Following the transaction, the president owned 922,240 shares of the company’s stock, valued at $19,745,158.40. This trade represents a 3.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Robert C. Goeltz II sold 6,552 shares of the business’s stock in a transaction that occurred on Wednesday, December 31st. The stock was sold at an average price of $23.38, for a total value of $153,185.76. Following the completion of the transaction, the chief financial officer owned 67,924 shares in the company, valued at $1,588,063.12. The trade was a 8.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 9.60% of the company’s stock.

Institutional Investors Weigh In On Arcus Biosciences

Several large investors have recently modified their holdings of the stock. Hantz Financial Services Inc. raised its holdings in Arcus Biosciences by 121.9% during the 4th quarter. Hantz Financial Services Inc. now owns 1,604 shares of the company’s stock valued at $38,000 after acquiring an additional 881 shares during the period. T. Rowe Price Investment Management Inc. bought a new position in shares of Arcus Biosciences in the fourth quarter worth $39,000. GAMMA Investing LLC boosted its holdings in shares of Arcus Biosciences by 59.1% in the third quarter. GAMMA Investing LLC now owns 2,748 shares of the company’s stock worth $37,000 after acquiring an additional 1,021 shares during the period. SBI Securities Co. Ltd. grew its position in shares of Arcus Biosciences by 13,547.6% in the third quarter. SBI Securities Co. Ltd. now owns 2,866 shares of the company’s stock valued at $39,000 after purchasing an additional 2,845 shares in the last quarter. Finally, Abich Financial Wealth Management LLC bought a new stake in shares of Arcus Biosciences during the 3rd quarter valued at $69,000. Hedge funds and other institutional investors own 92.89% of the company’s stock.

About Arcus Biosciences

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.