Arcus Biosciences, Inc. (NYSE:RCUS) Receives $33.67 Average PT from Brokerages

Arcus Biosciences, Inc. (NYSE:RCUS) has been given a consensus recommendation of “Buy” by the nine research firms that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $34.00.

A number of brokerages have recently weighed in on RCUS. Barclays upped their price target on shares of Arcus Biosciences from $25.00 to $29.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Wells Fargo & Company started coverage on Arcus Biosciences in a research report on Tuesday, October 8th. They issued an “overweight” rating and a $29.00 target price for the company. Cantor Fitzgerald reiterated an “overweight” rating on shares of Arcus Biosciences in a research report on Thursday, October 3rd. Wedbush restated an “outperform” rating and issued a $36.00 price objective on shares of Arcus Biosciences in a report on Thursday, November 7th. Finally, Evercore ISI raised Arcus Biosciences to a “strong-buy” rating in a report on Friday, August 9th.

Institutional Investors Weigh In On Arcus Biosciences

Hedge funds have recently modified their holdings of the stock. Headlands Technologies LLC acquired a new stake in Arcus Biosciences during the 1st quarter worth about $59,000. Innealta Capital LLC acquired a new stake in shares of Arcus Biosciences during the second quarter valued at approximately $66,000. Point72 DIFC Ltd purchased a new stake in shares of Arcus Biosciences in the 2nd quarter valued at approximately $83,000. Quest Partners LLC boosted its stake in Arcus Biosciences by 40,904.3% in the 3rd quarter. Quest Partners LLC now owns 9,431 shares of the company’s stock worth $144,000 after purchasing an additional 9,408 shares during the period. Finally, ProShare Advisors LLC grew its position in Arcus Biosciences by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 10,846 shares of the company’s stock worth $205,000 after purchasing an additional 746 shares in the last quarter. 92.89% of the stock is owned by hedge funds and other institutional investors.

Arcus Biosciences Stock Down 2.0 %

Shares of Arcus Biosciences stock opened at $16.43 on Thursday. The company has a debt-to-equity ratio of 0.08, a current ratio of 5.24 and a quick ratio of 5.24. Arcus Biosciences has a 1-year low of $13.49 and a 1-year high of $20.31. The business’s fifty day moving average price is $16.63 and its two-hundred day moving average price is $16.10. The company has a market capitalization of $1.50 billion, a P/E ratio of -5.22 and a beta of 0.89.

Arcus Biosciences (NYSE:RCUS) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($1.00) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.06) by $0.06. The business had revenue of $48.00 million for the quarter, compared to analysts’ expectations of $38.95 million. Arcus Biosciences had a negative net margin of 102.66% and a negative return on equity of 45.59%. The company’s revenue was up 50.0% on a year-over-year basis. During the same period in the previous year, the business earned ($0.94) earnings per share. As a group, research analysts forecast that Arcus Biosciences will post -3.2 EPS for the current year.

Arcus Biosciences Company Profile

Arcus Biosciences, Inc, a clinical-stage biopharmaceutical company, develops and commercializes cancer therapies in the United States. The company's pipeline products include Domvanalimab, an anti-TIGIT antibody, which is in Phase 2 and Phase 3 clinical trial; and AB308, an investigational anti-TIGIT monoclonal antibody, which is in Phase 1b clinical trial to study people with advanced solid and hematologic malignancies.