Brokerages Set Arcus Biosciences, Inc. (NYSE:RCUS) Price Target at $30.25

Arcus Biosciences, Inc. (NYSE:RCUS) has earned an average recommendation of “Buy” from the ten research firms that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $30.25.

A number of analysts recently weighed in on RCUS shares. Bank of America reduced their target price on shares of Arcus Biosciences from $22.00 to $17.00 and set a “neutral” rating for the company in a report on Wednesday, February 19th. HC Wainwright raised Arcus Biosciences from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $18.00 to $24.00 in a research note on Wednesday, February 26th. Finally, Morgan Stanley decreased their target price on Arcus Biosciences from $36.00 to $25.00 and set an “overweight” rating on the stock in a report on Tuesday, February 18th.

Insider Transactions at Arcus Biosciences

In other news, CEO Terry J. Rosen acquired 19,800 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The stock was acquired at an average cost of $10.18 per share, for a total transaction of $201,564.00. Following the completion of the acquisition, the chief executive officer now owns 2,554,160 shares in the company, valued at approximately $26,001,348.80. The trade was a 0.78 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Yasunori Kaneko acquired 20,000 shares of Arcus Biosciences stock in a transaction that occurred on Thursday, February 27th. The shares were purchased at an average cost of $10.06 per share, with a total value of $201,200.00. Following the transaction, the director now owns 28,400 shares of the company’s stock, valued at approximately $285,704. The trade was a 238.10 % increase in their position. The disclosure for this purchase can be found here. 12.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Arcus Biosciences

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Gilead Sciences Inc. acquired a new position in Arcus Biosciences in the fourth quarter worth approximately $447,610,000. Woodline Partners LP grew its position in Arcus Biosciences by 1.3% in the fourth quarter. Woodline Partners LP now owns 3,523,937 shares of the company’s stock worth $52,471,000 after acquiring an additional 45,497 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Arcus Biosciences by 11.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,702,302 shares of the company’s stock worth $25,348,000 after acquiring an additional 178,351 shares in the last quarter. Boxer Capital Management LLC acquired a new position in shares of Arcus Biosciences during the 4th quarter worth $23,857,000. Finally, Ameriprise Financial Inc. raised its holdings in shares of Arcus Biosciences by 17.3% during the 4th quarter. Ameriprise Financial Inc. now owns 1,547,591 shares of the company’s stock valued at $23,044,000 after purchasing an additional 228,325 shares in the last quarter. 92.89% of the stock is owned by hedge funds and other institutional investors.

Arcus Biosciences Stock Up 7.8 %

RCUS opened at $8.09 on Wednesday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 5.24 and a current ratio of 5.24. The company has a market capitalization of $850.04 million, a PE ratio of -2.57 and a beta of 1.54. The stock’s fifty day moving average is $9.70 and its 200-day moving average is $13.59. Arcus Biosciences has a one year low of $6.50 and a one year high of $18.98.

Arcus Biosciences (NYSE:RCUS) last issued its quarterly earnings results on Tuesday, February 25th. The company reported ($1.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.17) by $0.14. Arcus Biosciences had a negative net margin of 102.66% and a negative return on equity of 45.59%. The company had revenue of $36.00 million during the quarter, compared to the consensus estimate of $29.38 million. On average, equities analysts predict that Arcus Biosciences will post -3.15 EPS for the current fiscal 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.