Arcus Biosciences, Inc. (NYSE:RCUS) Receives $41.25 Average Target Price from Brokerages

Shares of Arcus Biosciences, Inc. (NYSE:RCUS) have earned an average rating of “Moderate Buy” from the eight research firms that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $41.25.

Several analysts have recently commented on RCUS shares. Truist Financial restated a “buy” rating and set a $50.00 target price on shares of Arcus Biosciences in a report on Monday, March 25th. Wedbush reaffirmed an “outperform” rating and set a $30.00 price target on shares of Arcus Biosciences in a research note on Thursday, February 22nd. Finally, Mizuho cut their price target on Arcus Biosciences from $51.00 to $42.00 and set a “buy” rating on the stock in a research note on Tuesday, January 30th.

Insider Activity

In related news, major shareholder Gilead Sciences, Inc. bought 15,238,095 shares of the business’s stock in a transaction on Monday, January 29th. The shares were purchased at an average price of $21.00 per share, with a total value of $319,999,995.00. Following the completion of the purchase, the insider now owns 30,061,124 shares of the company’s stock, valued at approximately $631,283,604. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. In other Arcus Biosciences news, COO Jennifer Jarrett sold 24,555 shares of the stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $20.07, for a total value of $492,818.85. Following the transaction, the chief operating officer now owns 274,323 shares of the company’s stock, valued at $5,505,662.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Gilead Sciences, Inc. bought 15,238,095 shares of the business’s stock in a transaction on Monday, January 29th. The stock was bought at an average cost of $21.00 per share, for a total transaction of $319,999,995.00. Following the purchase, the insider now directly owns 30,061,124 shares of the company’s stock, valued at approximately $631,283,604. The disclosure for this purchase can be found here. Insiders have sold 53,455 shares of company stock valued at $1,014,779 over the last 90 days. 13.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Arcus Biosciences

Hedge funds have recently modified their holdings of the business. BluePath Capital Management LLC acquired a new stake in shares of Arcus Biosciences during the third quarter worth about $28,000. GAMMA Investing LLC bought a new position in Arcus Biosciences in the fourth quarter valued at approximately $31,000. Public Employees Retirement System of Ohio bought a new position in Arcus Biosciences in the third quarter valued at approximately $36,000. Spartan Fund Management Inc. acquired a new stake in shares of Arcus Biosciences in the first quarter valued at approximately $38,000. Finally, Strs Ohio acquired a new stake in shares of Arcus Biosciences in the third quarter valued at approximately $43,000. Institutional investors and hedge funds own 92.89% of the company’s stock.

Arcus Biosciences Stock Performance

Shares of RCUS stock opened at $15.51 on Friday. The stock’s fifty day moving average is $17.55 and its 200-day moving average is $16.64. The stock has a market capitalization of $1.41 billion, a PE ratio of -3.74 and a beta of 0.81. Arcus Biosciences has a 52 week low of $12.95 and a 52 week high of $25.47.

Arcus Biosciences (NYSE:RCUS) last announced its earnings results on Wednesday, February 21st. The company reported ($1.08) EPS for the quarter, topping the consensus estimate of ($1.09) by $0.01. The company had revenue of $31.00 million for the quarter, compared to analysts’ expectations of $28.30 million. Arcus Biosciences had a negative return on equity of 57.17% and a negative net margin of 262.39%. The business’s revenue for the quarter was down 8.8% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.93) earnings per share. As a group, analysts forecast that Arcus Biosciences will post -3.59 earnings per share for the current fiscal year.

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.