Arcus Biosciences (NYSE:RCUS) Price Target Raised to $41.00 at Wedbush

Arcus Biosciences (NYSE:RCUS) had its price objective lifted by Wedbush from $37.00 to $41.00 in a research report sent to investors on Thursday morning,Benzinga reports. Wedbush currently has an outperform rating on the stock.

Several other equities analysts have also commented on RCUS. UBS Group restated a “buy” rating on shares of Arcus Biosciences in a research note on Monday, December 15th. 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. Weiss Ratings reiterated a “sell (d-)” rating on shares of Arcus Biosciences in a report on Wednesday, January 21st. Truist Financial raised shares of Arcus Biosciences to a “strong-buy” rating in a research report on Wednesday, March 25th. Finally, The Goldman Sachs Group raised shares of Arcus Biosciences from a “neutral” rating to a “buy” rating and upped their price target for the stock from $16.00 to $28.00 in a research report on Monday, January 12th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Arcus Biosciences has an average rating of “Moderate Buy” and a consensus target price of $30.80.

Arcus Biosciences Stock Up 5.3%

Shares of NYSE RCUS opened at $23.00 on Thursday. Arcus Biosciences has a 52-week low of $6.50 and a 52-week high of $26.40. The firm has a market capitalization of $2.88 billion, a price-to-earnings ratio of -6.97 and a beta of 0.86. The stock has a 50 day moving average price of $21.36 and a 200 day moving average price of $20.35. The company has a debt-to-equity ratio of 0.16, a quick ratio of 4.36 and a current ratio of 4.36.

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

Insiders Place Their Bets

In related news, President Juan C. Jaen sold 31,823 shares of the firm’s stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $21.41, for a total transaction of $681,330.43. Following the sale, the president owned 922,240 shares of the company’s stock, valued at $19,745,158.40. This trade represents a 3.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 9.60% of the stock is currently owned by insiders.

Institutional Trading of Arcus Biosciences

A number of institutional investors have recently modified their holdings of RCUS. Rockefeller Capital Management L.P. raised its stake in shares of Arcus Biosciences by 217.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 12,224 shares of the company’s stock worth $291,000 after acquiring an additional 8,368 shares in the last quarter. T. Rowe Price Investment Management Inc. acquired a new stake in Arcus Biosciences in the fourth quarter valued at approximately $39,000. Invesco Ltd. boosted its stake in Arcus Biosciences by 41.7% in the fourth quarter. Invesco Ltd. now owns 414,365 shares of the company’s stock valued at $9,874,000 after acquiring an additional 121,961 shares in the last quarter. State of Tennessee Department of Treasury grew its holdings in Arcus Biosciences by 34.2% in the fourth quarter. State of Tennessee Department of Treasury now owns 34,855 shares of the company’s stock worth $831,000 after purchasing an additional 8,886 shares during the last quarter. Finally, VestGen Advisors LLC purchased a new position in Arcus Biosciences in the fourth quarter worth $647,000. 92.89% of the stock is currently owned by institutional investors.

Arcus Biosciences Company Profile

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.