Arcus Biosciences, Inc. (NYSE:RCUS) Receives $30.20 Consensus PT from Analysts
by Mitch Edgeman · The Markets DailyArcus Biosciences, Inc. (NYSE:RCUS – Get Free Report) has received a consensus recommendation of “Moderate Buy” from the twelve research firms that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $30.20.
RCUS has been the topic of a number of research reports. Leerink Partners upped their target price on Arcus Biosciences from $36.00 to $49.00 and gave the company an “outperform” rating in a report on Monday, March 2nd. Truist Financial upgraded shares of Arcus Biosciences to a “strong-buy” rating in a report on Wednesday, March 25th. Morgan Stanley reaffirmed an “equal weight” rating and set a $20.00 price objective (down from $23.00) on shares of Arcus Biosciences in a research report on Thursday, January 8th. HC Wainwright reiterated a “buy” rating and issued a $32.00 price objective on shares of Arcus Biosciences in a research note on Monday, March 2nd. Finally, UBS Group reiterated a “buy” rating on shares of Arcus Biosciences in a research report on Monday, December 15th.
Check Out Our Latest Report on RCUS
Arcus Biosciences Stock Performance
Shares of RCUS stock opened at $21.63 on Wednesday. Arcus Biosciences has a 1-year low of $6.50 and a 1-year high of $26.40. The company has a current ratio of 4.36, a quick ratio of 4.36 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $2.71 billion, a price-to-earnings ratio of -6.55 and a beta of 0.85. The stock’s fifty day simple moving average is $21.38 and its 200-day simple moving average is $20.32.
Arcus Biosciences (NYSE:RCUS – Get Free Report) last announced its quarterly earnings data on Wednesday, February 25th. The company reported ($0.89) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.11) by $0.22. Arcus Biosciences had a negative return on equity of 65.77% and a negative net margin of 142.91%.The firm had revenue of $33.00 million during the quarter, compared to the consensus estimate of $24.94 million. During the same period in the prior year, the business earned ($1.03) EPS. The business’s revenue for the quarter was down 8.3% on a year-over-year basis. On average, sell-side analysts predict that Arcus Biosciences will post -3.15 earnings per share for the current fiscal year.
Insider Buying and Selling at Arcus Biosciences
In other news, President Juan C. Jaen sold 31,823 shares of the company’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $21.41, for a total value of $681,330.43. Following the transaction, the president directly owned 922,240 shares of the company’s stock, valued at approximately $19,745,158.40. This represents a 3.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 9.60% of the company’s stock.
Institutional Inflows and Outflows
Several hedge funds have recently bought and sold shares of the company. Wellington Management Group LLP raised its stake in shares of Arcus Biosciences by 309.4% during the 4th quarter. Wellington Management Group LLP now owns 5,184,509 shares of the company’s stock worth $123,547,000 after purchasing an additional 3,918,220 shares in the last quarter. Marshall Wace LLP bought a new stake in shares of Arcus Biosciences in the 4th quarter valued at approximately $80,731,000. Suvretta Capital Management LLC increased its holdings in Arcus Biosciences by 40.7% in the fourth quarter. Suvretta Capital Management LLC now owns 5,188,858 shares of the company’s stock worth $123,650,000 after buying an additional 1,500,000 shares during the last quarter. Toronto Dominion Bank acquired a new position in Arcus Biosciences in the fourth quarter worth approximately $35,380,000. Finally, Vanguard Group Inc. raised its position in Arcus Biosciences by 20.1% during the fourth quarter. Vanguard Group Inc. now owns 7,962,874 shares of the company’s stock valued at $189,755,000 after acquiring an additional 1,333,421 shares in the last quarter. 92.89% of the stock is owned by institutional investors and hedge funds.
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.