Arcus Biosciences, Inc. (NYSE:RCUS) Receives $34.88 Consensus Price Target from Brokerages

Shares of Arcus Biosciences, Inc. (NYSE:RCUS) have been assigned an average recommendation of “Buy” from the nine analysts that are presently covering the company, Marketbeat Ratings reports. Eight investment analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $34.88.

A number of brokerages recently weighed in on RCUS. Wells Fargo & Company started coverage on shares of Arcus Biosciences in a report on Tuesday, October 8th. They set an “overweight” rating and a $29.00 price objective for the company. Evercore ISI upgraded Arcus Biosciences to a “strong-buy” rating in a report on Friday, August 9th. Barclays dropped their price objective on Arcus Biosciences from $35.00 to $25.00 and set an “overweight” rating on the stock in a research note on Monday, July 8th. Truist Financial lowered their target price on Arcus Biosciences from $50.00 to $44.00 and set a “buy” rating for the company in a report on Monday, June 24th. Finally, Wedbush restated an “outperform” rating and set a $30.00 price target on shares of Arcus Biosciences in a research note on Thursday, October 3rd.

Arcus Biosciences Stock Performance

Shares of RCUS stock opened at $17.78 on Friday. The stock has a 50 day moving average price of $16.50 and a 200 day moving average price of $16.03. Arcus Biosciences has a 52-week low of $12.95 and a 52-week high of $20.31. The firm has a market capitalization of $1.62 billion, a P/E ratio of -5.72 and a beta of 0.88.

Arcus Biosciences (NYSE:RCUS) last released its earnings results on Thursday, August 8th. The company reported ($1.02) earnings per share for the quarter, hitting analysts’ consensus estimates of ($1.02). The business had revenue of $39.00 million for the quarter, compared to analyst estimates of $26.24 million. Arcus Biosciences had a negative return on equity of 42.86% and a negative net margin of 100.81%. The business’s revenue was up 34.5% compared to the same quarter last year. During the same quarter last year, the firm posted ($1.04) earnings per share. As a group, sell-side analysts forecast that Arcus Biosciences will post -3.03 EPS for the current year.

Hedge Funds Weigh In On Arcus Biosciences

Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Arcus Biosciences by 4.2% during the fourth quarter. Vanguard Group Inc. now owns 4,680,716 shares of the company’s stock worth $89,402,000 after purchasing an additional 186,898 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in Arcus Biosciences by 26.9% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 685,025 shares of the company’s stock valued at $12,933,000 after buying an additional 145,298 shares during the last quarter. SG Americas Securities LLC boosted its holdings in Arcus Biosciences by 1,396.1% in the second quarter. SG Americas Securities LLC now owns 129,292 shares of the company’s stock worth $1,969,000 after acquiring an additional 120,650 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new stake in shares of Arcus Biosciences during the second quarter worth about $1,286,000. Finally, Nordea Investment Management AB increased its holdings in shares of Arcus Biosciences by 26.3% during the first 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. 92.89% of the stock is currently owned by institutional investors.

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.