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

Arcus Biosciences (NYSE:RCUS) had its target price hoisted by HC Wainwright from $32.00 to $45.00 in a research report report published on Monday morning, MarketBeat.com reports. They currently have a buy rating on the stock. HC Wainwright also issued estimates for Arcus Biosciences’ FY2029 earnings at ($1.04) EPS and FY2030 earnings at ($0.25) EPS.

Several other equities analysts have also issued reports on RCUS. Lifesci Capital began coverage on Arcus Biosciences in a research report on Thursday, June 4th. They set an “outperform” rating and a $46.00 target price for the company. Morgan Stanley increased their price target on shares of Arcus Biosciences from $20.00 to $22.00 and gave the company an “equal weight” rating in a research report on Monday, May 11th. Wedbush lifted their price objective on shares of Arcus Biosciences from $37.00 to $41.00 and gave the stock an “outperform” rating in a research note on Thursday, April 2nd. The Goldman Sachs Group lifted their price objective on shares of Arcus Biosciences from $30.00 to $34.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Finally, Truist Financial started coverage on shares of Arcus Biosciences in a report on Monday, May 18th. They set a “buy” rating and a $35.00 price objective for the company. Eight investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $36.40.

Arcus Biosciences Stock Performance

RCUS stock opened at $29.88 on Monday. Arcus Biosciences has a twelve month low of $8.84 and a twelve month high of $31.74. The company has a quick ratio of 4.04, a current ratio of 4.04 and a debt-to-equity ratio of 0.19. The company has a market cap of $3.76 billion, a P/E ratio of -9.40 and a beta of 0.80. The business’s fifty day moving average is $26.40 and its 200-day moving average is $23.77.

Arcus Biosciences (NYSE:RCUS) last announced its quarterly earnings data on Tuesday, May 5th. The company reported ($1.02) EPS for the quarter, missing analysts’ consensus estimates of ($0.92) by ($0.10). Arcus Biosciences had a negative return on equity of 68.97% and a negative net margin of 156.36%.The company had revenue of $17.00 million for the quarter, compared to analyst estimates of $29.48 million. During the same period last year, the firm earned ($1.14) earnings per share. The firm’s revenue for the quarter was down 39.3% on a year-over-year basis. Equities research analysts forecast that Arcus Biosciences will post -3.66 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Robert C. Goeltz II sold 7,763 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $25.63, for a total value of $198,965.69. Following the completion of the transaction, the chief financial officer directly owned 84,161 shares in the company, valued at approximately $2,157,046.43. The trade was a 8.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Juan C. Jaen sold 20,067 shares of the stock in a transaction that occurred on Friday, July 10th. The stock was sold at an average price of $28.62, for a total value of $574,317.54. Following the sale, the president directly owned 822,240 shares of the company’s stock, valued at approximately $23,532,508.80. The trade was a 2.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 110,325 shares of company stock worth $3,174,319 over the last ninety days. 7.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Wellington Management Group LLP grew its stake in Arcus Biosciences by 309.4% in the 4th quarter. Wellington Management Group LLP now owns 5,184,509 shares of the company’s stock valued at $123,547,000 after buying an additional 3,918,220 shares during the last quarter. Marshall Wace LLP acquired a new stake in Arcus Biosciences during the fourth quarter worth approximately $80,731,000. Suvretta Capital Management LLC lifted its position in Arcus Biosciences by 40.7% during the fourth quarter. Suvretta Capital Management LLC now owns 5,188,858 shares of the company’s stock worth $123,650,000 after acquiring an additional 1,500,000 shares during the last quarter. Toronto Dominion Bank bought a new stake in shares of Arcus Biosciences during the fourth quarter worth approximately $35,380,000. Finally, Vanguard Group Inc. boosted its holdings in shares of Arcus Biosciences by 20.1% during the fourth quarter. Vanguard Group Inc. now owns 7,962,874 shares of the company’s stock worth $189,755,000 after acquiring an additional 1,333,421 shares during the period. Institutional investors own 92.89% of the company’s stock.

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.