Brokerages Set Arcus Biosciences, Inc. (NYSE:RCUS) Target Price at $34.00

Shares of Arcus Biosciences, Inc. (NYSE:RCUS) have been given a consensus rating of “Buy” by the nine research firms that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $34.00.

A number of research analysts recently commented on RCUS shares. Wells Fargo & Company started coverage on Arcus Biosciences in a research note on Tuesday, October 8th. They set an “overweight” rating and a $29.00 price objective for the company. Cantor Fitzgerald restated an “overweight” rating on shares of Arcus Biosciences in a research note on Thursday, October 3rd. HC Wainwright restated a “neutral” rating and set a $20.00 price objective on shares of Arcus Biosciences in a research note on Wednesday, November 6th. Barclays upped their price objective on Arcus Biosciences from $25.00 to $29.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Finally, Evercore ISI upgraded Arcus Biosciences to a “strong-buy” rating in a research report on Friday, August 9th.

Hedge Funds Weigh In On Arcus Biosciences

Hedge funds have recently made changes to their positions in the business. Point72 Hong Kong Ltd acquired a new stake in shares of Arcus Biosciences during the 3rd quarter valued at $47,000. Innealta Capital LLC purchased a new position in Arcus Biosciences during the 2nd quarter worth approximately $66,000. Point72 DIFC Ltd purchased a new position in Arcus Biosciences during the 2nd quarter worth approximately $83,000. Quest Partners LLC grew its position in Arcus Biosciences by 40,904.3% during the 3rd quarter. Quest Partners LLC now owns 9,431 shares of the company’s stock worth $144,000 after purchasing an additional 9,408 shares in the last quarter. Finally, Diversified Trust Co grew 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.

Arcus Biosciences Stock Performance

Shares of RCUS opened at $17.10 on Monday. The business’s fifty day moving average price is $16.27 and its 200 day moving average price is $16.00. Arcus Biosciences has a 12-month low of $13.52 and a 12-month high of $20.31. The stock has a market capitalization of $1.56 billion, a PE ratio of -5.43 and a beta of 0.88. 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 announced its quarterly earnings data on Wednesday, November 6th. The company reported ($1.00) earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $48.00 million for the quarter, compared to analysts’ expectations of $38.95 million. During the same period last year, the business posted ($0.94) earnings per share. The firm’s revenue for the quarter was up 50.0% on a year-over-year basis. Equities research analysts forecast that Arcus Biosciences will post -3.2 EPS for the current year.

Arcus Biosciences Company Profile

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.