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

Arcus Biosciences, Inc. (NYSE:RCUS) has been given an average recommendation of “Buy” by the nine analysts that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $34.00.

Several analysts have weighed in on the stock. 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 objective for the company. HC Wainwright reiterated a “neutral” rating and issued a $20.00 price target on shares of Arcus Biosciences in a research note on Wednesday, November 6th. Cantor Fitzgerald restated an “overweight” rating on shares of Arcus Biosciences in a research note on Thursday, October 3rd. Barclays lifted their price objective on Arcus Biosciences from $25.00 to $29.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Finally, Wedbush reissued an “outperform” rating and set a $36.00 target price on shares of Arcus Biosciences in a report on Thursday, November 7th.

Arcus Biosciences Price Performance

Shares of NYSE RCUS opened at $17.29 on Monday. The firm has a market cap of $1.58 billion, a P/E ratio of -5.49 and a beta of 0.88. The business’s 50 day moving average is $16.38 and its 200-day moving average is $16.01. The company has a current ratio of 5.24, a quick ratio of 5.24 and a debt-to-equity ratio of 0.08. Arcus Biosciences has a 1-year low of $13.52 and a 1-year high of $20.31.

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

Hedge Funds Weigh In On Arcus Biosciences

A number of institutional investors have recently modified their holdings of the business. Point72 Hong Kong Ltd bought a new position in Arcus Biosciences in the third quarter valued at about $47,000. Innealta Capital LLC acquired a new stake in shares of Arcus Biosciences in the 2nd quarter valued at approximately $66,000. Point72 DIFC Ltd acquired a new stake in shares of Arcus Biosciences in the 2nd quarter valued at approximately $83,000. Quest Partners LLC grew its holdings in shares of Arcus Biosciences by 40,904.3% during the 3rd quarter. Quest Partners LLC now owns 9,431 shares of the company’s stock valued at $144,000 after purchasing an additional 9,408 shares during the last quarter. Finally, Diversified Trust Co increased its position in Arcus Biosciences by 12.1% during the 2nd quarter. Diversified Trust Co now owns 13,545 shares of the company’s stock worth $206,000 after purchasing an additional 1,467 shares in the last quarter. 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.