Brokerages Set Arcus Biosciences, Inc. (NYSE:RCUS) Price Target at $41.25

Shares of Arcus Biosciences, Inc. (NYSE:RCUS) have been assigned an average rating of “Moderate Buy” from the eight analysts that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $41.25.

Several research firms recently issued reports on RCUS. Truist Financial reiterated a “buy” rating and issued a $50.00 target price on shares of Arcus Biosciences in a research note on Monday, March 25th. Wedbush restated an “outperform” rating and set a $30.00 price objective on shares of Arcus Biosciences in a research report on Thursday, February 22nd. Finally, Mizuho dropped their target price on shares of Arcus Biosciences from $51.00 to $42.00 and set a “buy” rating on the stock in a research report on Tuesday, January 30th.

Insiders Place Their Bets

In other news, major shareholder Gilead Sciences, Inc. bought 15,238,095 shares of the firm’s stock in a transaction on Monday, January 29th. The shares were bought at an average cost of $21.00 per share, for a total transaction of $319,999,995.00. Following the acquisition, the insider now directly owns 30,061,124 shares of the company’s stock, valued at approximately $631,283,604. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, President Juan C. Jaen sold 3,900 shares of Arcus Biosciences stock in a transaction on Monday, February 26th. The stock was sold at an average price of $20.06, for a total value of $78,234.00. Following the completion of the sale, the president now directly owns 1,211,365 shares of the company’s stock, valued at $24,299,981.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Gilead Sciences, Inc. bought 15,238,095 shares of the stock in a transaction that occurred on Monday, January 29th. The shares were purchased at an average price of $21.00 per share, with a total value of $319,999,995.00. Following the completion of the acquisition, the insider now directly owns 30,061,124 shares in the company, valued at $631,283,604. The disclosure for this purchase can be found here. Insiders sold 53,455 shares of company stock valued at $1,014,779 in the last three months. 13.80% of the stock is currently owned by insiders.

Institutional Trading of Arcus Biosciences

Hedge funds have recently made changes to their positions in the business. AE Wealth Management LLC acquired a new stake in Arcus Biosciences during the 3rd quarter worth approximately $410,000. Mach 1 Financial Group LLC purchased a new stake in shares of Arcus Biosciences during the third quarter worth $409,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Arcus Biosciences by 20.0% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,732 shares of the company’s stock valued at $246,000 after acquiring an additional 2,289 shares in the last quarter. BluePath Capital Management LLC acquired a new position in Arcus Biosciences during the 3rd quarter worth $28,000. Finally, Strs Ohio acquired a new position in Arcus Biosciences during the 3rd quarter worth $43,000. Institutional investors and hedge funds own 92.89% of the company’s stock.

Arcus Biosciences Stock Performance

Shares of RCUS stock opened at $15.55 on Friday. Arcus Biosciences has a fifty-two week low of $12.95 and a fifty-two week high of $25.47. The firm has a market capitalization of $1.41 billion, a PE ratio of -3.75 and a beta of 0.81. The stock’s 50-day simple moving average is $17.48 and its 200-day simple moving average is $16.61.

Arcus Biosciences (NYSE:RCUS) last issued its quarterly earnings results on Wednesday, February 21st. The company reported ($1.08) earnings per share for the quarter, topping the consensus estimate of ($1.09) by $0.01. The company had revenue of $31.00 million for the quarter, compared to the consensus estimate of $28.30 million. Arcus Biosciences had a negative net margin of 262.39% and a negative return on equity of 57.17%. Arcus Biosciences’s quarterly revenue was down 8.8% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.93) EPS. Sell-side analysts forecast that Arcus Biosciences will post -3.59 earnings per share for the current year.

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.