Analysts Set Arcus Biosciences, Inc. (NYSE:RCUS) Price Target at $54.33

Shares of Arcus Biosciences, Inc. (NYSE:RCUS – Get Rating) have been given an average recommendation of “Buy” by the nine analysts that are covering the stock, MarketBeat Ratings reports. Five research analysts have rated the stock with a buy recommendation. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $54.33.

RCUS has been the topic of a number of recent analyst reports. TheStreet upgraded shares of Arcus Biosciences from a “d” rating to a “c” rating in a research report on Monday, March 21st. Cantor Fitzgerald reiterated an “overweight” rating on shares of Arcus Biosciences in a report on Friday, April 1st. Wedbush dropped their target price on shares of Arcus Biosciences from $67.00 to $42.00 in a report on Wednesday, May 11th. Finally, Truist Financial boosted their target price on shares of Arcus Biosciences from $70.00 to $77.00 in a report on Friday, February 25th.

In other news, President Juan C. Jaen sold 2,333 shares of Arcus Biosciences stock in a transaction that occurred on Thursday, June 16th. The shares were sold at an average price of $20.72, for a total value of $48,339.76. Following the transaction, the president now directly owns 212,574 shares of the company’s stock, valued at $4,404,533.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Jennifer Jarrett sold 6,081 shares of Arcus Biosciences stock in a transaction that occurred on Thursday, June 16th. The stock was sold at an average price of $20.72, for a total transaction of $125,998.32. Following the completion of the transaction, the chief operating officer now directly owns 125,233 shares in the company, valued at $2,594,827.76. The disclosure for this sale can be found here. Insiders sold a total of 14,055 shares of company stock worth $291,220 over the last quarter. Insiders own 12.70% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE grew its position in Arcus Biosciences by 41.0% during the first quarter. Bank of America Corp DE now owns 137,461 shares of the company’s stock valued at $4,338,000 after purchasing an additional 39,989 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in Arcus Biosciences during the first quarter valued at approximately $939,000. Jane Street Group LLC grew its position in Arcus Biosciences by 597.2% during the first quarter. Jane Street Group LLC now owns 24,861 shares of the company’s stock valued at $785,000 after purchasing an additional 29,861 shares in the last quarter. Point72 Hong Kong Ltd grew its position in Arcus Biosciences by 1,631.4% during the first quarter. Point72 Hong Kong Ltd now owns 7,774 shares of the company’s stock valued at $245,000 after purchasing an additional 7,325 shares in the last quarter. Finally, Sessa Capital IM L.P. purchased a new position in Arcus Biosciences during the first quarter valued at approximately $5,712,000. 73.54% of the stock is currently owned by institutional investors and hedge funds.

RCUS stock opened at $23.52 on Thursday. Arcus Biosciences has a 52 week low of $16.74 and a 52 week high of $49.10. The company has a market capitalization of $1.69 billion, a price-to-earnings ratio of 42.76 and a beta of 1.02. The firm’s 50-day moving average is $22.80 and its two-hundred day moving average is $31.00.

Arcus Biosciences (NYSE:RCUS – Get Rating) last released its quarterly earnings results on Monday, May 9th. The company reported ($0.96) EPS for the quarter, missing analysts’ consensus estimates of $0.83 by ($1.79). Arcus Biosciences had a return on equity of 8.25% and a net margin of 14.67%. The company had revenue of $18.01 million for the quarter, compared to the consensus estimate of $163.47 million. During the same quarter last year, the firm posted ($1.08) earnings per share. As a group, sell-side analysts anticipate that Arcus Biosciences will post -4.03 EPS for the current year.

Arcus Biosciences Company Profile (Get Rating)

Arcus Biosciences, Inc, a clinical-stage biopharmaceutical company, develops and commercializes cancer therapies in the United States. Its product pipeline includes, Etrumadenant, a dual A2a/A2b adenosine receptor antagonist, which is in a Phase 1b/2 clinical trial; and Zimberelimab, an anti-PD-1 antibody that is in Phase 1b clinical trial for monotherapy.

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