Arcus Biosciences (NYSE:RCUS) Price Target Raised to $32.00

Arcus Biosciences (NYSE:RCUS) had its price objective increased by HC Wainwright from $28.00 to $32.00 in a research report report published on Friday, Marketbeat.com reports. HC Wainwright currently has a buy rating on the stock.

Several other brokerages have also issued reports on RCUS. Bank of America lifted their price target on Arcus Biosciences from $17.00 to $26.00 and gave the stock a “neutral” rating in a research note on Friday, November 28th. Wedbush set a $35.00 price objective on Arcus Biosciences and gave the company an “outperform” rating in a report on Wednesday, October 29th. Wall Street Zen downgraded Arcus Biosciences from a “hold” rating to a “sell” rating in a research report on Saturday, December 6th. Wells Fargo & Company increased their price target on shares of Arcus Biosciences from $25.00 to $29.00 and gave the company an “overweight” rating in a research report on Monday, October 20th. Finally, Citigroup lifted their price target on shares of Arcus Biosciences from $54.00 to $56.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. Seven research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Arcus Biosciences currently has an average rating of “Moderate Buy” and an average target price of $28.89.

Arcus Biosciences Price Performance

RCUS stock opened at $21.58 on Friday. The firm has a 50 day simple moving average of $20.36 and a two-hundred day simple moving average of $13.75. The stock has a market cap of $2.33 billion, a PE ratio of -6.27 and a beta of 0.74. Arcus Biosciences has a one year low of $6.50 and a one year high of $26.40. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.65 and a quick ratio of 3.65.

Arcus Biosciences (NYSE:RCUS) last posted its quarterly earnings data on Tuesday, October 28th. The company reported ($1.27) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.33) by $0.06. Arcus Biosciences had a negative net margin of 136.40% and a negative return on equity of 68.17%. The company had revenue of $26.00 million during the quarter, compared to the consensus estimate of $19.89 million. During the same period in the previous year, the firm posted ($1.00) EPS. The firm’s revenue was down 45.8% compared to the same quarter last year. On average, analysts predict that Arcus Biosciences will post -3.15 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CAO Alexander Azoy sold 1,900 shares of the stock in a transaction that occurred on Wednesday, November 26th. The stock was sold at an average price of $26.00, for a total transaction of $49,400.00. Following the completion of the sale, the chief accounting officer owned 27,363 shares of the company’s stock, valued at approximately $711,438. This represents a 6.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, President Juan C. Jaen sold 82,997 shares of the firm’s stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $24.71, for a total transaction of $2,050,855.87. Following the completion of the transaction, the president owned 954,063 shares in the company, valued at $23,574,896.73. This represents a 8.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 294,193 shares of company stock worth $6,098,761. Company insiders own 9.60% of the company’s stock.

Institutional Trading of Arcus Biosciences

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Amalgamated Bank boosted its holdings in Arcus Biosciences by 3.9% in the third quarter. Amalgamated Bank now owns 19,533 shares of the company’s stock valued at $266,000 after acquiring an additional 736 shares in the last quarter. Creative Planning lifted its position in shares of Arcus Biosciences by 2.7% in the 3rd quarter. Creative Planning now owns 29,629 shares of the company’s stock worth $403,000 after purchasing an additional 771 shares during the period. GAMMA Investing LLC lifted its position in shares of Arcus Biosciences by 59.1% in the 3rd quarter. GAMMA Investing LLC now owns 2,748 shares of the company’s stock worth $37,000 after purchasing an additional 1,021 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of Arcus Biosciences by 8.0% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 17,398 shares of the company’s stock valued at $142,000 after purchasing an additional 1,294 shares in the last quarter. Finally, Parallel Advisors LLC increased its position in shares of Arcus Biosciences by 1.6% during the second quarter. Parallel Advisors LLC now owns 88,007 shares of the company’s stock valued at $716,000 after buying an additional 1,422 shares during the period. Hedge funds and other institutional investors own 92.89% of the company’s stock.

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.