Brokerages Set Arcus Biosciences, Inc. (NYSE:RCUS) Price Target at $34.00

Shares of Arcus Biosciences, Inc. (NYSE:RCUS) have received an average rating of “Buy” from the nine research firms that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a hold recommendation, seven have issued a buy recommendation and one has given 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.

RCUS has been the subject of several recent research reports. Wells Fargo & Company started coverage on Arcus Biosciences in a research note on Tuesday, October 8th. They issued an “overweight” rating and a $29.00 price target for the company. Barclays upped their price target on shares of Arcus Biosciences from $25.00 to $29.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. HC Wainwright reiterated a “neutral” rating and issued a $20.00 price objective on shares of Arcus Biosciences in a research note on Wednesday, November 6th. Wedbush restated an “outperform” rating and set a $36.00 target price on shares of Arcus Biosciences in a research report on Thursday, November 7th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Arcus Biosciences in a research report on Thursday, October 3rd.

Arcus Biosciences Price Performance

Shares of RCUS opened at $15.13 on Friday. The company’s 50-day moving average is $15.94 and its 200-day moving average is $16.02. The company has a debt-to-equity ratio of 0.08, a current ratio of 5.24 and a quick ratio of 5.24. The firm has a market capitalization of $1.38 billion, a PE ratio of -4.80 and a beta of 0.88. Arcus Biosciences has a fifty-two week low of $13.52 and a fifty-two week high of $20.31.

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Point72 Hong Kong Ltd bought a new position in shares of Arcus Biosciences in the 3rd quarter valued at $47,000. Innealta Capital LLC bought a new position in Arcus Biosciences in the second quarter valued at about $66,000. Point72 DIFC Ltd acquired a new position in Arcus Biosciences during the second quarter worth about $83,000. Quest Partners LLC lifted its holdings in shares of Arcus Biosciences by 40,904.3% in the third quarter. Quest Partners LLC now owns 9,431 shares of the company’s stock worth $144,000 after acquiring an additional 9,408 shares during the last quarter. Finally, Intech Investment Management LLC acquired a new stake in shares of Arcus Biosciences in the 3rd quarter valued at approximately $244,000. 92.89% of the stock is currently owned by institutional investors and hedge funds.

About Arcus Biosciences

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.