Arcus Biosciences, Inc. (NYSE:RCUS) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Arcus Biosciences, Inc. (NYSE:RCUS) has been assigned an average recommendation of “Moderate Buy” from the nine ratings firms that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $38.11.

RCUS has been the subject of several analyst reports. Wedbush reissued an “outperform” rating and issued a $30.00 target price on shares of Arcus Biosciences in a research note on Thursday, May 9th. Cantor Fitzgerald reissued an “overweight” rating on shares of Arcus Biosciences in a research note on Friday, July 5th. Barclays cut their target price 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. Truist Financial cut their target price 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. Finally, Citigroup boosted their target price on shares of Arcus Biosciences from $36.00 to $38.00 and gave the company a “buy” rating in a research note on Monday, June 3rd.

Arcus Biosciences Trading Up 1.8 %

NYSE:RCUS opened at $14.09 on Friday. The firm’s fifty day moving average price is $15.86 and its 200 day moving average price is $16.70. Arcus Biosciences has a 1-year low of $12.95 and a 1-year high of $25.47.

Arcus Biosciences (NYSE:RCUS) last released its quarterly earnings results on Wednesday, May 8th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.97) by $0.92. The business had revenue of $145.00 million during the quarter, compared to the consensus estimate of $28.77 million. Arcus Biosciences had a negative return on equity of 40.98% and a negative net margin of 97.47%. The business’s revenue was up 480.0% on a year-over-year basis. During the same quarter in the previous year, the company posted ($1.09) EPS. Research analysts expect that Arcus Biosciences will post -2.61 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. ProShare Advisors LLC grew its holdings in shares of Arcus Biosciences by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 10,846 shares of the company’s stock worth $205,000 after purchasing an additional 746 shares during the period. GAMMA Investing LLC boosted its holdings in Arcus Biosciences by 51.6% in the 1st quarter. GAMMA Investing LLC now owns 2,427 shares of the company’s stock worth $46,000 after acquiring an additional 826 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in Arcus Biosciences by 9.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 12,940 shares of the company’s stock worth $244,000 after acquiring an additional 1,090 shares during the period. Alps Advisors Inc. boosted its holdings in Arcus Biosciences by 2.3% in the 3rd quarter. Alps Advisors Inc. now owns 54,951 shares of the company’s stock worth $986,000 after acquiring an additional 1,214 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in Arcus Biosciences by 5.6% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 32,356 shares of the company’s stock worth $583,000 after acquiring an additional 1,702 shares during the period. Institutional investors and hedge funds own 92.89% of the company’s stock.

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.