Arcus Biosciences (NYSE:RCUS) Price Target Raised to $49.00

Arcus Biosciences (NYSE:RCUS) had its target price raised by equities researchers at Leerink Partners from $46.00 to $49.00 in a report released on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Leerink Partners‘s price objective indicates a potential upside of 170.33% from the stock’s current price.

Several other analysts have also recently weighed in on the stock. Truist Financial reduced their price objective on shares of Arcus Biosciences from $41.00 to $40.00 and set a “buy” rating on the stock in a research note on Thursday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arcus Biosciences in a research report on Thursday, October 15th. Morgan Stanley set a $23.00 target price on Arcus Biosciences in a report on Monday, August 10th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $42.00 target price on shares of Arcus Biosciences in a report on Friday, August 7th. Finally, Wells Fargo & Company upped their price target on Arcus Biosciences from $23.00 to $26.00 and gave the company an “equal weight” rating in a research report on Thursday, August 6th. Twelve analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Arcus Biosciences presently has an average rating of “Moderate Buy” and an average target price of $39.36.

Arcus Biosciences Trading Down 6.1%

Shares of Arcus Biosciences stock traded down $1.18 on Thursday, hitting $18.13. The stock had a trading volume of 1,119,251 shares, compared to its average volume of 1,421,820. The stock has a 50 day moving average of $24.26 and a 200 day moving average of $24.58. The firm has a market capitalization of $2.31 billion, a P/E ratio of -4.65 and a beta of 1.04. Arcus Biosciences has a twelve month low of $17.43 and a twelve month high of $31.74. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.82 and a current ratio of 3.82.

Arcus Biosciences (NYSE:RCUS) last posted its earnings results on Wednesday, November 4th. The company reported ($1.00) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.11). Arcus Biosciences had a negative return on equity of 89.54% and a negative net margin of 393.16%. The business had revenue of $9.00 million for the quarter, compared to the consensus estimate of $7.58 million. During the same period in the previous year, the firm earned ($1.27) earnings per share. The company’s revenue was down 65.4% compared to the same quarter last year. Sell-side analysts expect that Arcus Biosciences will post -3.55 earnings per share for the current fiscal year.

Insider Activity

In other news, CAO Alexander Azoy sold 2,827 shares of the company’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $30.00, for a total value of $84,810.00. Following the sale, the chief accounting officer directly owned 39,581 shares of the company’s stock, valued at approximately $1,187,430. This represents a 6.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 7.60% of the company’s stock.

Institutional Investors Weigh In On Arcus Biosciences

Large investors have recently modified their holdings of the company. BlackRock Inc. bought a new position in Arcus Biosciences during the second quarter worth $506,113,000. Parkman Healthcare Partners LLC acquired a new position in Arcus Biosciences in the second quarter valued at $28,341,000. Bank of America Corp DE bought a new stake in Arcus Biosciences during the second quarter valued at $25,759,000. Bank of New York Mellon Corp bought a new stake in Arcus Biosciences during the second quarter valued at $16,741,000. Finally, Renaissance Technologies LLC boosted its position in Arcus Biosciences by 1,198.8% during the first quarter. Renaissance Technologies LLC now owns 424,700 shares of the company’s stock valued at $9,174,000 after acquiring an additional 392,000 shares during the last quarter. 92.89% of the stock is currently owned by institutional investors and hedge funds.

Key Arcus Biosciences News

Here are the key news stories impacting Arcus Biosciences this week:

• Positive Sentiment: Quarterly revenue was $9.0 million, above the $7.58 million consensus estimate cited in the earnings report, though it was down 65.4% from a year earlier. Quarterly results
• Neutral Sentiment: Truist cut its price target from $41 to $40 but maintained a Buy rating; Wedbush reduced its target from $49 to $45 while retaining an Outperform rating. The target reductions are a modest negative signal, but both firms remain bullish. Truist price target update
• Negative Sentiment: Arcus reported a third-quarter loss of $1.00 per share, wider than analysts’ expected loss of $0.89, weighing on sentiment. The company remains unprofitable, and revenue fell sharply year over year. Arcus third-quarter results and pipeline update

Arcus Biosciences Company Profile

Arcus Biosciences, Inc is a clinical-stage biopharmaceutical company focused on developing therapies for cancer and other serious diseases. The company uses its research platform to discover and advance medicines designed to target immune suppression and other biological mechanisms involved in tumor growth.

Arcus’s oncology pipeline has included antibody-based and small-molecule therapies aimed at targets such as TIGIT, PD-1, CD73, and the adenosine A2A and A2B receptors. Its key development programs have included domvanalimab, zimberelimab, quemliclustat, and etrumadenant, which have been evaluated in clinical studies across several cancer types, including lung, gastrointestinal, and colorectal cancers.

Founded in 2015 and headquartered in Hayward, California, Arcus conducts research and clinical-development activities intended to support potential commercialization in international markets.