Arcus Biosciences (NYSE:RCUS) Stock Price Expected to Rise, Leerink Partners Analyst Says

Arcus Biosciences (NYSE:RCUS) had its target price raised by stock analysts at Leerink Partners from $36.00 to $49.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Leerink Partners’ price objective would suggest a potential upside of 118.46% from the stock’s current price.

A number of other equities analysts have also recently issued reports on RCUS. Wells Fargo & Company set a $23.00 price objective on Arcus Biosciences and gave the stock an “equal weight” rating in a report on Thursday, February 12th. UBS Group restated a “buy” rating on shares of Arcus Biosciences in a research report on Monday, December 15th. Truist Financial set a $30.00 price target on shares of Arcus Biosciences in a research note on Friday, December 12th. Morgan Stanley reaffirmed an “equal weight” rating and set a $20.00 price objective (down from $23.00) on shares of Arcus Biosciences in a research note on Thursday, January 8th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Arcus Biosciences in a report on Wednesday, January 21st. Eight research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $31.30.

Arcus Biosciences Stock Down 6.3%

Shares of NYSE RCUS opened at $22.43 on Monday. The business has a 50-day moving average of $21.57 and a 200-day moving average of $18.74. The firm has a market capitalization of $2.81 billion, a price-to-earnings ratio of -6.80 and a beta of 0.85. Arcus Biosciences has a 12 month low of $6.50 and a 12 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.

Arcus Biosciences (NYSE:RCUS) last posted its quarterly earnings data on Wednesday, February 25th. The company reported ($0.89) earnings per share (EPS) for the quarter, topping 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 firm’s revenue was down 8.3% compared to the same quarter last year. During the same period in the previous year, the firm posted ($1.03) EPS. Sell-side analysts expect that Arcus Biosciences will post -3.15 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Arcus Biosciences news, General Counsel Carolyn C. Tang sold 7,658 shares of Arcus Biosciences stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $21.88, for a total transaction of $167,557.04. Following the sale, the general counsel directly owned 131,544 shares of the company’s stock, valued at approximately $2,878,182.72. The trade was a 5.50% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Terry J. Rosen sold 28,947 shares of the firm’s stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $21.88, for a total value of $633,360.36. Following the transaction, the chief executive officer directly owned 2,220,553 shares of the company’s stock, valued at $48,585,699.64. This represents a 1.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 263,987 shares of company stock valued at $6,025,620 over the last three months. 9.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Arcus Biosciences

A number of institutional investors and hedge funds have recently made changes to their positions in RCUS. GAMMA Investing LLC grew its stake 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 buying an additional 1,021 shares during the last quarter. Hantz Financial Services Inc. boosted its stake in Arcus Biosciences by 121.9% in the 4th quarter. Hantz Financial Services Inc. now owns 1,604 shares of the company’s stock worth $38,000 after purchasing an additional 881 shares in the last quarter. SBI Securities Co. Ltd. grew its position in Arcus Biosciences by 13,547.6% during the 3rd quarter. SBI Securities Co. Ltd. now owns 2,866 shares of the company’s stock valued at $39,000 after purchasing an additional 2,845 shares during the last quarter. T. Rowe Price Investment Management Inc. bought a new stake in Arcus Biosciences during the 4th quarter valued at about $39,000. Finally, CWM LLC increased its stake in Arcus Biosciences by 233.6% during the 2nd quarter. CWM LLC now owns 5,441 shares of the company’s stock valued at $44,000 after purchasing an additional 3,810 shares in the last quarter. 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.