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

Shares of Arcus Biosciences, Inc. (NYSE:RCUSGet Free Report) have earned an average rating of “Moderate Buy” from the eight brokerages that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $41.25.

Several equities research analysts have commented on RCUS shares. Morgan Stanley dropped their target price on Arcus Biosciences from $38.00 to $35.00 and set an “overweight” rating on the stock in a report on Monday, November 13th. Mizuho decreased their price target on Arcus Biosciences from $51.00 to $42.00 and set a “buy” rating for the company in a research note on Tuesday, January 30th. Wedbush decreased their price target on Arcus Biosciences from $36.00 to $30.00 and set an “outperform” rating for the company in a research note on Tuesday, January 30th. Finally, Cantor Fitzgerald decreased their price target on Arcus Biosciences from $46.00 to $36.00 and set an “overweight” rating for the company in a research note on Wednesday, November 8th.

Check Out Our Latest Research Report on Arcus Biosciences

Insider Activity at Arcus Biosciences

In related news, COO Jennifer Jarrett sold 21,521 shares of the stock in a transaction that occurred on Friday, December 22nd. The stock was sold at an average price of $17.76, for a total transaction of $382,212.96. Following the completion of the transaction, the chief operating officer now directly owns 258,878 shares of the company’s stock, valued at $4,597,673.28. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, COO Jennifer Jarrett sold 21,521 shares of the stock in a transaction that occurred on Friday, December 22nd. The stock was sold at an average price of $17.76, for a total value of $382,212.96. Following the sale, the chief operating officer now directly owns 258,878 shares in the company, valued at $4,597,673.28. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Gilead Sciences, Inc. acquired 15,238,095 shares of Arcus Biosciences stock in a transaction on Monday, January 29th. The shares were purchased at an average price of $21.00 per share, for a total transaction of $319,999,995.00. Following the completion of the acquisition, the insider now directly owns 30,061,124 shares in the company, valued at $631,283,604. The disclosure for this purchase can be found here. Over the last three months, insiders sold 30,500 shares of company stock valued at $562,421. Insiders own 13.80% of the company’s stock.

Hedge Funds Weigh In On Arcus Biosciences

Institutional investors have recently modified their holdings of the stock. Panagora Asset Management Inc. increased its stake in shares of Arcus Biosciences by 130.6% in the 4th quarter. Panagora Asset Management Inc. now owns 228,996 shares of the company’s stock valued at $4,374,000 after purchasing an additional 129,697 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of Arcus Biosciences by 1.0% in the 4th quarter. Principal Financial Group Inc. now owns 332,814 shares of the company’s stock valued at $6,357,000 after purchasing an additional 3,372 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Arcus Biosciences by 11.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,594,609 shares of the company’s stock valued at $30,459,000 after purchasing an additional 158,094 shares in the last quarter. BNP Paribas Financial Markets increased its stake in shares of Arcus Biosciences by 32.5% in the 4th quarter. BNP Paribas Financial Markets now owns 110,366 shares of the company’s stock valued at $2,108,000 after purchasing an additional 27,048 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Arcus Biosciences by 2.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 472,182 shares of the company’s stock valued at $9,019,000 after purchasing an additional 11,341 shares in the last quarter. Hedge funds and other institutional investors own 74.67% of the company’s stock.

Arcus Biosciences Stock Up 2.5 %

NYSE RCUS opened at $15.21 on Tuesday. The stock’s 50 day moving average is $16.91 and its 200 day moving average is $17.44. Arcus Biosciences has a twelve month low of $12.95 and a twelve month high of $25.47. The firm has a market capitalization of $1.14 billion, a PE ratio of -3.80 and a beta of 0.78.

Arcus Biosciences (NYSE:RCUSGet Free Report) last released its earnings results on Tuesday, November 7th. The company reported ($0.94) EPS for the quarter, topping the consensus estimate of ($1.12) by $0.18. Arcus Biosciences had a negative return on equity of 50.02% and a negative net margin of 244.17%. The business had revenue of $32.00 million for the quarter, compared to the consensus estimate of $27.57 million. During the same period in the previous year, the company posted ($0.90) earnings per share. The company’s revenue for the quarter was down 3.0% compared to the same quarter last year. On average, research analysts anticipate that Arcus Biosciences will post -4.09 earnings per share for the current year.

About Arcus Biosciences

(Get Free Report

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 investigational monoclonal 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.

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Analyst Recommendations for Arcus Biosciences (NYSE:RCUS)

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