Arcus Biosciences, Inc. (NYSE:RCUS) Receives Consensus Recommendation of “Buy” from Analysts

Arcus Biosciences, Inc. (NYSE:RCUS – Get Rating) has been assigned an average recommendation of “Buy” from the ten brokerages that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating and five have given a buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $54.33.

Several research firms have recently weighed in on RCUS. Wedbush reduced their price objective on shares of Arcus Biosciences from $67.00 to $42.00 in a research report on Wednesday, May 11th. Truist Financial raised their target price on shares of Arcus Biosciences from $70.00 to $77.00 in a report on Friday, February 25th. TheStreet upgraded shares of Arcus Biosciences from a “d” rating to a “c” rating in a report on Monday, March 21st. Zacks Investment Research cut shares of Arcus Biosciences from a “hold” rating to a “sell” rating in a report on Tuesday, March 1st. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Arcus Biosciences in a research report on Friday, April 1st.

In other news, COO Jennifer Jarrett sold 9,617 shares of the firm’s stock in a transaction on Wednesday, March 16th. The shares were sold at an average price of $31.62, for a total value of $304,089.54. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 19.71% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. EcoR1 Capital LLC lifted its holdings in shares of Arcus Biosciences by 53.6% during the third quarter. EcoR1 Capital LLC now owns 5,122,359 shares of the company’s stock valued at $178,617,000 after acquiring an additional 1,787,112 shares during the period. Decheng Capital Management III Cayman LLC bought a new position in shares of Arcus Biosciences in the first quarter valued at about $27,451,000. Franklin Resources Inc. raised its holdings in shares of Arcus Biosciences by 66.4% in the third quarter. Franklin Resources Inc. now owns 1,457,349 shares of the company’s stock valued at $50,818,000 after buying an additional 581,311 shares during the last quarter. State Street Corp raised its holdings in shares of Arcus Biosciences by 25.5% in the first quarter. State Street Corp now owns 2,749,919 shares of the company’s stock valued at $86,787,000 after buying an additional 557,988 shares during the last quarter. Finally, Bain Capital Public Equity Management II LLC bought a new position in shares of Arcus Biosciences in the third quarter valued at about $15,861,000. Hedge funds and other institutional investors own 73.54% of the company’s stock.

NYSE:RCUS opened at $18.92 on Friday. Arcus Biosciences has a twelve month low of $16.74 and a twelve month high of $49.10. The company has a 50-day moving average of $28.85 and a 200-day moving average of $34.32. The firm has a market cap of $1.36 billion, a price-to-earnings ratio of 34.40 and a beta of 1.00.

Arcus Biosciences (NYSE:RCUS – Get Rating) last posted its quarterly earnings data on Monday, May 9th. The company reported ($0.96) earnings per share for the quarter, missing the consensus estimate of $0.83 by ($1.79). Arcus Biosciences had a net margin of 14.67% and a return on equity of 8.25%. During the same quarter in the prior year, the business posted ($1.08) EPS. As a group, equities analysts forecast that Arcus Biosciences will post -4.03 earnings per share for the current year.

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.

Recommended Stories