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

Shares of Arcus Biosciences, Inc. (NYSE:RCUS) have been assigned an average rating of “Buy” from the eight analysts that are covering the firm, MarketBeat.com reports. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $35.71.

A number of equities research analysts recently issued reports on RCUS shares. Truist Financial reduced their target price on Arcus Biosciences from $50.00 to $44.00 and set a “buy” rating on the stock in a research note on Monday, June 24th. Wedbush reaffirmed an “outperform” rating and issued a $30.00 target price on shares of Arcus Biosciences in a research note on Friday, August 9th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arcus Biosciences in a research note on Friday, August 9th. Citigroup upped their target price on Arcus Biosciences from $36.00 to $38.00 and gave the company a “buy” rating in a research note on Monday, June 3rd. Finally, Evercore ISI raised Arcus Biosciences to a “strong-buy” rating in a research note on Friday, August 9th.

Arcus Biosciences Price Performance

Shares of NYSE:RCUS opened at $15.60 on Wednesday. The business’s 50 day simple moving average is $16.06 and its 200-day simple moving average is $16.18. The firm has a market capitalization of $1.42 billion, a price-to-earnings ratio of -5.02 and a beta of 0.90. Arcus Biosciences has a 12 month low of $12.95 and a 12 month high of $20.31.

Arcus Biosciences (NYSE:RCUS) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($1.02) EPS for the quarter, hitting the consensus estimate of ($1.02). The business had revenue of $39.00 million for the quarter, compared to analyst estimates of $26.24 million. Arcus Biosciences had a negative return on equity of 42.86% and a negative net margin of 100.81%. The company’s quarterly revenue was up 34.5% on a year-over-year basis. During the same quarter in the previous year, the company earned ($1.04) EPS. On average, equities analysts anticipate that Arcus Biosciences will post -3.03 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. GAMMA Investing LLC increased its holdings in shares of Arcus Biosciences by 51.6% during the 1st quarter. GAMMA Investing LLC now owns 2,427 shares of the company’s stock worth $46,000 after buying an additional 826 shares during the last quarter. Headlands Technologies LLC acquired a new stake in shares of Arcus Biosciences during the 1st quarter worth $59,000. Quest Partners LLC acquired a new stake in shares of Arcus Biosciences during the 4th quarter worth $77,000. Cape Investment Advisory Inc. acquired a new stake in shares of Arcus Biosciences during the 4th quarter worth $77,000. Finally, Innealta Capital LLC acquired a new stake in shares of Arcus Biosciences during the 2nd quarter worth $66,000. 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.