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

Arcus Biosciences, Inc. (NYSE:RCUS) has earned an average recommendation of “Buy” from the ten analysts that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $28.38.

RCUS has been the subject of a number of recent research reports. Morgan Stanley decreased their price objective on Arcus Biosciences from $36.00 to $25.00 and set an “overweight” rating for the company in a report on Tuesday, February 18th. HC Wainwright raised Arcus Biosciences from a “neutral” rating to a “buy” rating and increased their price target for the company from $18.00 to $24.00 in a research report on Wednesday, February 26th. Barclays dropped their price objective on Arcus Biosciences from $29.00 to $14.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 23rd. Finally, Bank of America reduced their target price on shares of Arcus Biosciences from $22.00 to $17.00 and set a “neutral” rating for the company in a research note on Wednesday, February 19th.

Arcus Biosciences Stock Up 5.8 %

Shares of NYSE RCUS opened at $9.12 on Friday. Arcus Biosciences has a 52-week low of $6.50 and a 52-week high of $18.98. The company has a debt-to-equity ratio of 0.08, a quick ratio of 5.24 and a current ratio of 5.24. The company’s 50 day moving average price is $8.58 and its 200-day moving average price is $12.71. The company has a market capitalization of $958.86 million, a P/E ratio of -2.90 and a beta of 1.54.

Arcus Biosciences (NYSE:RCUS) last announced its earnings results on Tuesday, February 25th. The company reported ($1.03) EPS for the quarter, beating the consensus estimate of ($1.17) by $0.14. The company had revenue of $36.00 million for the quarter, compared to analyst estimates of $29.38 million. Arcus Biosciences had a negative return on equity of 45.59% and a negative net margin of 102.66%. Equities analysts forecast that Arcus Biosciences will post -3.15 earnings per share for the current year.

Insider Activity at Arcus Biosciences

In other news, Director Yasunori Kaneko acquired 20,000 shares of Arcus Biosciences stock in a transaction that occurred on Thursday, February 27th. The stock was bought at an average price of $10.06 per share, for a total transaction of $201,200.00. Following the completion of the transaction, the director now owns 28,400 shares in the company, valued at $285,704. The trade was a 238.10 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Terry J. Rosen acquired 19,800 shares of the stock in a transaction dated Thursday, February 27th. The stock was acquired at an average price of $10.18 per share, for a total transaction of $201,564.00. Following the purchase, the chief executive officer now directly owns 2,554,160 shares in the company, valued at approximately $26,001,348.80. This trade represents a 0.78 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 12.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Arcus Biosciences

Large investors have recently made changes to their positions in the business. Gilead Sciences Inc. bought a new stake in Arcus Biosciences in the 4th quarter valued at $447,610,000. Barclays PLC increased its holdings in shares of Arcus Biosciences by 49.0% in the third quarter. Barclays PLC now owns 118,693 shares of the company’s stock worth $1,816,000 after purchasing an additional 39,015 shares during the last quarter. Norges Bank purchased a new stake in shares of Arcus Biosciences in the fourth quarter worth about $507,000. US Bancorp DE lifted its position in shares of Arcus Biosciences by 2,432.0% in the fourth quarter. US Bancorp DE now owns 6,887 shares of the company’s stock worth $103,000 after buying an additional 6,615 shares in the last quarter. Finally, KLP Kapitalforvaltning AS bought a new position in Arcus Biosciences during the fourth quarter valued at approximately $207,000. 92.89% of the stock is currently owned by hedge funds and other 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.