Arcus Biosciences, Inc. (NYSE:RCUS) Receives $34.88 Average Price Target from Analysts

Shares of Arcus Biosciences, Inc. (NYSE:RCUS) have earned an average recommendation of “Buy” from the nine brokerages that are currently covering the company, MarketBeat.com reports. Eight equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $34.88.

A number of analysts have recently weighed in on RCUS shares. Wells Fargo & Company started coverage on shares of 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 reduced their price target on shares of Arcus Biosciences from $35.00 to $25.00 and set an “overweight” rating for the company in a research note on Monday, July 8th. Truist Financial reduced their price target on shares of Arcus Biosciences from $50.00 to $44.00 and set a “buy” rating for the company in a research note on Monday, June 24th. Evercore ISI raised shares of Arcus Biosciences to a “strong-buy” rating in a research note on Friday, August 9th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Arcus Biosciences in a research note on Thursday, October 3rd.

Arcus Biosciences Trading Up 2.1 %

NYSE RCUS opened at $18.24 on Friday. Arcus Biosciences has a 52 week low of $12.95 and a 52 week high of $20.31. The stock has a market cap of $1.66 billion, a price-to-earnings ratio of -5.86 and a beta of 0.88. The company has a 50-day moving average price of $16.67 and a two-hundred day moving average price of $16.06.

Arcus Biosciences (NYSE:RCUS) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($1.02) earnings per share for the quarter, hitting analysts’ consensus estimates of ($1.02). The company had revenue of $39.00 million during the quarter, compared to analyst estimates of $26.24 million. Arcus Biosciences had a negative net margin of 100.81% and a negative return on equity of 42.86%. The business’s revenue for the quarter was up 34.5% compared to the same quarter last year. During the same period in the prior year, the business posted ($1.04) EPS. As a group, equities research analysts expect that Arcus Biosciences will post -3.03 earnings per share for the current fiscal year.

Institutional Trading of Arcus Biosciences

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Handelsbanken Fonder AB lifted its position in shares of Arcus Biosciences by 15.5% in the 3rd quarter. Handelsbanken Fonder AB now owns 22,300 shares of the company’s stock valued at $341,000 after acquiring an additional 3,000 shares in the last quarter. Point72 DIFC Ltd purchased a new stake in shares of Arcus Biosciences in the 2nd quarter valued at approximately $83,000. Algert Global LLC lifted its position in shares of Arcus Biosciences by 30.9% in the 2nd quarter. Algert Global LLC now owns 76,257 shares of the company’s stock valued at $1,161,000 after acquiring an additional 17,999 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Arcus Biosciences by 7.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 29,858 shares of the company’s stock valued at $455,000 after acquiring an additional 2,123 shares in the last quarter. Finally, AQR Capital Management LLC lifted its position in shares of Arcus Biosciences by 67.9% in the 2nd quarter. AQR Capital Management LLC now owns 24,524 shares of the company’s stock valued at $374,000 after acquiring an additional 9,916 shares in the last quarter. 92.89% of the stock is owned by institutional investors and hedge funds.

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.