Arcus Biosciences, Inc. (NYSE:RCUS – Get Free Report) has received a consensus rating of “Moderate Buy” from the sixteen research firms that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation and twelve have issued a buy recommendation on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $38.55.
A number of equities research analysts have recently weighed in on the company. Wells Fargo & Company boosted their price target on Arcus Biosciences from $23.00 to $26.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arcus Biosciences in a research report on Thursday. HC Wainwright increased their price objective on shares of Arcus Biosciences from $32.00 to $45.00 and gave the company a “buy” rating in a research report on Monday, July 20th. Wedbush reiterated an “outperform” rating and issued a $43.00 target price on shares of Arcus Biosciences in a research note on Wednesday, September 30th. Finally, Truist Financial reiterated a “buy” rating and issued a $40.00 target price (up from $35.00) on shares of Arcus Biosciences in a research note on Tuesday, September 8th.
Get Our Latest Research Report on RCUS
Arcus Biosciences Stock Down 3.3%
Shares of RCUS stock opened at $22.07 on Friday. The stock’s fifty day moving average price is $26.96 and its 200 day moving average price is $26.20. Arcus Biosciences has a 1-year low of $16.04 and a 1-year high of $31.74. The company has a market cap of $2.81 billion, a price-to-earnings ratio of -5.66 and a beta of 0.94. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.82 and a quick ratio of 3.82.
Arcus Biosciences (NYSE:RCUS – Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($0.72) EPS for the quarter, beating analysts’ consensus estimates of ($0.89) by $0.17. The company had revenue of $41.00 million during the quarter, compared to analysts’ expectations of $21.98 million. Arcus Biosciences had a negative return on equity of 89.54% and a negative net margin of 393.16%. The firm’s revenue for the quarter was down 74.4% on a year-over-year basis. On average, research analysts expect that Arcus Biosciences will post -3.52 earnings per share for the current fiscal year.
Insider Activity
In other news, CAO Alexander Azoy sold 2,827 shares of Arcus Biosciences stock in a transaction on Friday, August 21st. The shares were sold at an average price of $30.00, for a total transaction of $84,810.00. Following the completion of the sale, the chief accounting officer directly owned 39,581 shares in the company, valued at approximately $1,187,430. The trade was a 6.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 7.60% of the company’s stock.
Hedge Funds Weigh In On Arcus Biosciences
Hedge funds have recently made changes to their positions in the company. Integrated Wealth Concepts LLC purchased a new position in shares of Arcus Biosciences in the second quarter worth about $30,000. KBC Group NV purchased a new stake in Arcus Biosciences during the first quarter worth $50,000. GAMMA Investing LLC boosted its holdings in Arcus Biosciences by 10.0% during the second quarter. GAMMA Investing LLC now owns 3,966 shares of the company’s stock worth $122,000 after buying an additional 359 shares in the last quarter. Nykredit A S acquired a new stake in Arcus Biosciences during the second quarter valued at $134,000. Finally, State of Wyoming acquired a new stake in Arcus Biosciences during the second quarter valued at $142,000. 92.89% of the stock is owned by institutional investors and hedge funds.
Arcus Biosciences Company Profile
Arcus Biosciences, Inc is a biopharmaceutical company focused on discovering and developing medicines for the treatment of cancer. The company uses a proprietary research platform to develop small-molecule and antibody-based therapies designed to target biological mechanisms involved in tumor growth and immune-system regulation.
Arcus’ oncology pipeline has included investigational therapies such as zimberelimab, an anti-PD-1 antibody; domvanalimab, an anti-TIGIT antibody; quemliclustat, a CD73 inhibitor; and etrumadenant, an adenosine receptor antagonist.
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