Arcus Biosciences (NYSE:RCUS) Price Target Raised to $45.00

Arcus Biosciences (NYSE:RCUS) had its target price hoisted by Citigroup from $44.00 to $45.00 in a research note published on Thursday,Benzinga reports. They currently have a buy rating on the stock.

RCUS has been the subject of several other reports. HC Wainwright reaffirmed a “buy” rating and issued a $32.00 price objective on shares of Arcus Biosciences in a research note on Monday, March 2nd. Leerink Partners boosted their target price on Arcus Biosciences from $36.00 to $49.00 and gave the stock an “outperform” rating in a research report on Monday, March 2nd. Weiss Ratings reissued a “sell (d-)” rating on shares of Arcus Biosciences in a report on Wednesday, January 21st. The Goldman Sachs Group upgraded Arcus Biosciences from a “neutral” rating to a “buy” rating and raised their price target for the company from $16.00 to $28.00 in a research report on Monday, January 12th. Finally, Wall Street Zen raised Arcus Biosciences from a “sell” rating to a “hold” rating in a research note on Saturday, February 28th. Eight research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $30.20.

Arcus Biosciences Trading Down 0.4%

Shares of RCUS opened at $22.12 on Thursday. Arcus Biosciences has a twelve month low of $6.50 and a twelve month high of $26.40. The company has a current ratio of 4.36, a quick ratio of 4.36 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $2.77 billion, a P/E ratio of -6.70 and a beta of 0.85. The firm’s 50-day moving average is $21.52 and its two-hundred day moving average is $18.94.

Arcus Biosciences (NYSE:RCUS) last posted its quarterly earnings results on Wednesday, February 25th. The company reported ($0.89) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.11) by $0.22. The company had revenue of $33.00 million during the quarter, compared to the consensus estimate of $24.94 million. Arcus Biosciences had a negative net margin of 142.91% and a negative return on equity of 65.77%. The company’s revenue for the quarter was down 8.3% on a year-over-year basis. During the same period last year, the firm earned ($1.03) EPS. On average, research analysts predict that Arcus Biosciences will post -3.15 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Terry J. Rosen sold 28,947 shares of the company’s stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $21.88, for a total value of $633,360.36. Following the sale, the chief executive officer owned 2,220,553 shares of the company’s stock, valued at approximately $48,585,699.64. This represents a 1.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Juan C. Jaen sold 31,823 shares of the stock in a transaction on Monday, January 5th. The shares were sold at an average price of $21.41, for a total value of $681,330.43. Following the sale, the president owned 922,240 shares in the company, valued at approximately $19,745,158.40. This trade represents a 3.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 180,990 shares of company stock worth $3,974,764. 9.60% of the stock is owned by corporate insiders.

Institutional Trading of Arcus Biosciences

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. AQR Capital Management LLC raised its stake in Arcus Biosciences by 253.9% in the 1st quarter. AQR Capital Management LLC now owns 90,954 shares of the company’s stock valued at $714,000 after purchasing an additional 65,254 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Arcus Biosciences by 10.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,572 shares of the company’s stock worth $297,000 after purchasing an additional 3,565 shares during the last quarter. Millennium Management LLC boosted its stake in shares of Arcus Biosciences by 29.2% during the 1st quarter. Millennium Management LLC now owns 1,194,622 shares of the company’s stock worth $9,378,000 after purchasing an additional 270,253 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Arcus Biosciences by 106.2% during the first quarter. Goldman Sachs Group Inc. now owns 914,208 shares of the company’s stock worth $7,177,000 after buying an additional 470,755 shares in the last quarter. Finally, Strs Ohio purchased a new stake in shares of Arcus Biosciences during the first quarter worth about $67,000. Hedge funds and other institutional investors own 92.89% of the company’s stock.

About Arcus Biosciences

Arcus Biosciences is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of novel cancer immunotherapies. The company’s research platform centers on modulating tumor microenvironments and immune checkpoints through both small-molecule and antibody-based candidates. Arcus aims to enhance antitumor immune responses by targeting pathways such as the adenosine axis and inhibitory receptors on immune cells.

The company’s lead clinical programs include etrumadenant, an orally administered A2A adenosine receptor antagonist being evaluated in combination with anti-PD-1 therapy, and domvanalimab, an anti-TIGIT monoclonal antibody.