Arcus Biosciences, Inc. (NYSE:RCUS) Given Average Recommendation of “Moderate Buy” by Analysts

Arcus Biosciences, Inc. (NYSE:RCUS) has earned an average rating of “Moderate Buy” from the nine brokerages that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $38.11.

A number of equities research analysts have recently weighed in on the stock. Cantor Fitzgerald reissued an “overweight” rating on shares of Arcus Biosciences in a report on Friday, July 5th. Citigroup lifted their target price on Arcus Biosciences from $36.00 to $38.00 and gave the company a “buy” rating in a research report on Monday, June 3rd. Wedbush reissued an “outperform” rating and issued a $30.00 price target on shares of Arcus Biosciences in a research report on Thursday, May 9th. Truist Financial cut their price objective on shares of Arcus Biosciences from $50.00 to $44.00 and set a “buy” rating on the stock in a report on Monday, June 24th. Finally, Barclays decreased their price objective on Arcus Biosciences from $35.00 to $25.00 and set an “overweight” rating for the company in a research report on Monday, July 8th.

Arcus Biosciences Stock Down 8.4 %

RCUS opened at $13.78 on Tuesday. Arcus Biosciences has a 52-week low of $12.95 and a 52-week high of $25.47. The business has a fifty day moving average of $15.36 and a 200 day moving average of $16.27. The stock has a market cap of $1.25 billion, a P/E ratio of -4.43 and a beta of 0.90.

Arcus Biosciences (NYSE:RCUS) last issued its quarterly earnings data on Wednesday, May 8th. The company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.97) by $0.92. Arcus Biosciences had a negative net margin of 97.47% and a negative return on equity of 40.98%. The company had revenue of $145.00 million during the quarter, compared to the consensus estimate of $28.77 million. During the same quarter in the previous year, the firm posted ($1.09) earnings per share. Arcus Biosciences’s revenue for the quarter was up 480.0% compared to the same quarter last year. Equities analysts anticipate that Arcus Biosciences will post -3.07 EPS for the current fiscal year.

Hedge Funds Weigh In On Arcus Biosciences

Large investors have recently made changes to their positions in the business. Louisiana State Employees Retirement System lifted its holdings in Arcus Biosciences by 2.6% during the 2nd quarter. Louisiana State Employees Retirement System now owns 27,500 shares of the company’s stock valued at $419,000 after purchasing an additional 700 shares during the last quarter. ProShare Advisors LLC increased its stake in Arcus Biosciences by 7.4% in the first quarter. ProShare Advisors LLC now owns 10,846 shares of the company’s stock valued at $205,000 after purchasing an additional 746 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Arcus Biosciences by 51.6% in the 1st quarter. GAMMA Investing LLC now owns 2,427 shares of the company’s stock valued at $46,000 after purchasing an additional 826 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in shares of Arcus Biosciences by 9.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 12,940 shares of the company’s stock worth $244,000 after acquiring an additional 1,090 shares during the period. Finally, Diversified Trust Co increased its holdings in Arcus Biosciences by 12.1% during the 2nd quarter. Diversified Trust Co now owns 13,545 shares of the company’s stock worth $206,000 after purchasing an additional 1,467 shares in the last quarter. Institutional investors and hedge funds own 92.89% of the company’s stock.

About Arcus Biosciences

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.