Arcus Biosciences, Inc. (NYSE:RCUS) Receives $34.00 Consensus Price Target from Brokerages

Shares of Arcus Biosciences, Inc. (NYSE:RCUS) have earned an average recommendation of “Buy” from the nine ratings firms that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $34.00.

Several analysts have recently weighed in on RCUS shares. HC Wainwright reaffirmed a “neutral” rating and set a $20.00 price target on shares of Arcus Biosciences in a research note on Wednesday, November 6th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arcus Biosciences in a research report on Thursday, October 3rd. Barclays increased their price target on Arcus Biosciences from $25.00 to $29.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Wells Fargo & Company began coverage on Arcus Biosciences in a research note on Tuesday, October 8th. They set an “overweight” rating and a $29.00 price target on the stock. Finally, Wedbush reaffirmed an “outperform” rating and issued a $36.00 price objective on shares of Arcus Biosciences in a research note on Thursday, November 7th.

Arcus Biosciences Stock Down 3.5 %

Shares of NYSE RCUS opened at $15.27 on Friday. The company has a market cap of $1.40 billion, a P/E ratio of -4.85 and a beta of 0.88. The firm has a 50-day simple moving average of $16.12 and a two-hundred day simple moving average of $16.06. Arcus Biosciences has a 1 year low of $13.52 and a 1 year high of $20.31. The company has a debt-to-equity ratio of 0.08, a current ratio of 5.24 and a quick ratio of 5.24.

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

Institutional Trading of Arcus Biosciences

Hedge funds have recently modified their holdings of the company. JPMorgan Chase & Co. increased its position in shares of Arcus Biosciences by 2.6% during the third quarter. JPMorgan Chase & Co. now owns 43,685 shares of the company’s stock worth $668,000 after purchasing an additional 1,117 shares in the last quarter. Barclays PLC grew its stake in Arcus Biosciences by 49.0% during the 3rd quarter. Barclays PLC now owns 118,693 shares of the company’s stock worth $1,816,000 after buying an additional 39,015 shares during the last quarter. Y Intercept Hong Kong Ltd increased its position in Arcus Biosciences by 100.6% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 23,581 shares of the company’s stock valued at $361,000 after buying an additional 11,827 shares in the last quarter. Jane Street Group LLC raised its stake in Arcus Biosciences by 59.8% in the third quarter. Jane Street Group LLC now owns 217,041 shares of the company’s stock valued at $3,319,000 after buying an additional 81,193 shares during the last quarter. Finally, Point72 Asset Management L.P. raised its stake in Arcus Biosciences by 32.9% in the third quarter. Point72 Asset Management L.P. now owns 2,437,073 shares of the company’s stock valued at $37,263,000 after buying an additional 603,222 shares during the last quarter. 92.89% of the stock is owned by hedge funds and other institutional investors.

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.