Arcus Biosciences (NYSE:RCUS) Price Target Lowered to $37.00 at Citigroup

Arcus Biosciences (NYSE:RCUSGet Rating) had its target price reduced by research analysts at Citigroup from $40.00 to $37.00 in a report issued on Wednesday, The Fly reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s target price would indicate a potential upside of 36.18% from the company’s previous close.

Several other research firms have also weighed in on RCUS. Wedbush reduced their target price on Arcus Biosciences from $42.00 to $36.00 and set an “outperform” rating on the stock in a report on Thursday, August 4th. Bank of America started coverage on Arcus Biosciences in a report on Friday, November 18th. They issued a “neutral” rating and a $33.00 price target on the stock. Morgan Stanley started coverage on Arcus Biosciences in a report on Tuesday, October 11th. They issued an “overweight” rating and a $40.00 price target on the stock. SVB Leerink lowered their target price on Arcus Biosciences from $40.00 to $38.00 and set an “outperform” rating on the stock in a research report on Thursday, November 3rd. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arcus Biosciences in a research report on Wednesday, September 21st. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $40.63.

Arcus Biosciences Stock Performance

RCUS stock opened at $27.17 on Wednesday. The business’s 50-day moving average price is $26.75 and its two-hundred day moving average price is $25.20. The firm has a market cap of $1.97 billion, a PE ratio of 29.53 and a beta of 0.61. Arcus Biosciences has a 1-year low of $16.74 and a 1-year high of $48.80.

Insiders Place Their Bets

In other Arcus Biosciences news, COO Jennifer Jarrett sold 12,677 shares of the business’s stock in a transaction that occurred on Friday, September 16th. The stock was sold at an average price of $26.28, for a total transaction of $333,151.56. Following the transaction, the chief operating officer now owns 130,942 shares of the company’s stock, valued at $3,441,155.76. The sale was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 12.70% of the company’s stock.

Institutional Investors Weigh In On Arcus Biosciences

Institutional investors have recently made changes to their positions in the company. Maryland State Retirement & Pension System bought a new stake in shares of Arcus Biosciences during the second quarter worth approximately $479,000. Teacher Retirement System of Texas boosted its holdings in shares of Arcus Biosciences by 8.0% during the first quarter. Teacher Retirement System of Texas now owns 7,938 shares of the company’s stock worth $251,000 after acquiring an additional 590 shares during the period. New York State Teachers Retirement System bought a new stake in shares of Arcus Biosciences during the second quarter worth approximately $1,871,000. Sectoral Asset Management Inc. boosted its holdings in shares of Arcus Biosciences by 19.5% during the first quarter. Sectoral Asset Management Inc. now owns 338,480 shares of the company’s stock worth $10,682,000 after acquiring an additional 55,270 shares during the period. Finally, Strs Ohio bought a new stake in shares of Arcus Biosciences during the second quarter worth approximately $869,000. Institutional investors own 72.61% of the company’s stock.

About Arcus Biosciences

(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.

Further Reading

The Fly logo

Analyst Recommendations for Arcus Biosciences (NYSE:RCUS)

Receive News & Ratings for Arcus Biosciences Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arcus Biosciences and related companies with MarketBeat.com's FREE daily email newsletter.