Brokerages Set Arcus Biosciences, Inc. (NYSE:RCUS) Target Price at $35.71

Shares of Arcus Biosciences, Inc. (NYSE:RCUS) have been given an average rating of “Buy” by the eight ratings firms that are presently covering the firm, Marketbeat.com reports. Seven research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $35.71.

Several research firms have recently weighed in on RCUS. Truist Financial lowered their price objective on Arcus Biosciences from $50.00 to $44.00 and set a “buy” rating for the company in a research report on Monday, June 24th. Wedbush reiterated an “outperform” rating and issued a $30.00 target price on shares of Arcus Biosciences in a report on Friday, August 9th. Barclays cut their price target on Arcus Biosciences from $35.00 to $25.00 and set an “overweight” rating on the stock in a report on Monday, July 8th. Evercore ISI upgraded shares of Arcus Biosciences to a “strong-buy” rating in a research note on Friday, August 9th. Finally, Citigroup increased their target price on shares of Arcus Biosciences from $36.00 to $38.00 and gave the stock a “buy” rating in a research note on Monday, June 3rd.

Arcus Biosciences Price Performance

Arcus Biosciences stock opened at $16.49 on Wednesday. The firm has a market cap of $1.51 billion, a P/E ratio of -5.38 and a beta of 0.90. The stock’s 50 day moving average is $16.04 and its 200 day moving average is $16.27. Arcus Biosciences has a one year low of $12.95 and a one year high of $20.48.

Arcus Biosciences (NYSE:RCUS) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($1.02) EPS for the quarter, meeting analysts’ consensus estimates of ($1.02). Arcus Biosciences had a negative net margin of 100.81% and a negative return on equity of 42.86%. The company had revenue of $39.00 million for the quarter, compared to analyst estimates of $26.24 million. During the same period in the prior year, the firm posted ($1.04) EPS. The company’s quarterly revenue was up 34.5% on a year-over-year basis. Equities analysts anticipate that Arcus Biosciences will post -3.03 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Nordea Investment Management AB lifted its position in Arcus Biosciences by 26.3% in the 1st quarter. Nordea Investment Management AB now owns 259,372 shares of the company’s stock valued at $4,892,000 after acquiring an additional 53,944 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Arcus Biosciences by 2.4% during the first quarter. Vanguard Group Inc. now owns 4,791,244 shares of the company’s stock valued at $90,459,000 after buying an additional 110,528 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Arcus Biosciences by 11.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,594,609 shares of the company’s stock worth $30,459,000 after buying an additional 158,094 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in Arcus Biosciences by 8.7% in the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 744,298 shares of the company’s stock valued at $11,336,000 after buying an additional 59,273 shares during the last quarter. Finally, Decheng Capital LLC bought a new position in Arcus Biosciences during the 4th quarter valued at $16,613,000. 92.89% of the stock is currently owned by institutional investors and hedge funds.

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.