Arcus Biosciences (NYSE:RCUS) PT Lowered to $42.00

Arcus Biosciences (NYSE:RCUSGet Free Report) had its price objective decreased by stock analysts at Mizuho from $51.00 to $42.00 in a report issued on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Mizuho’s price target would suggest a potential upside of 177.59% from the company’s current price.

A number of other equities analysts also recently commented on the company. Wedbush restated an “outperform” rating and issued a $36.00 price objective on shares of Arcus Biosciences in a report on Wednesday, January 17th. Morgan Stanley cut their price objective on Arcus Biosciences from $38.00 to $35.00 and set an “overweight” rating on the stock in a report on Monday, November 13th. Finally, Cantor Fitzgerald cut their price objective on Arcus Biosciences from $46.00 to $36.00 and set an “overweight” rating on the stock in a report on Wednesday, November 8th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $41.25.

Read Our Latest Stock Report on RCUS

Arcus Biosciences Trading Down 3.8 %

Shares of NYSE:RCUS opened at $15.13 on Tuesday. The stock’s 50-day moving average price is $16.80 and its two-hundred day moving average price is $17.64. Arcus Biosciences has a 12-month low of $12.95 and a 12-month high of $25.47. The firm has a market cap of $1.13 billion, a price-to-earnings ratio of -3.78 and a beta of 0.73.

Arcus Biosciences (NYSE:RCUSGet Free Report) last issued its quarterly earnings results on Tuesday, November 7th. The company reported ($0.94) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.12) by $0.18. Arcus Biosciences had a negative return on equity of 50.02% and a negative net margin of 244.17%. The firm had revenue of $32.00 million for the quarter, compared to analyst estimates of $27.57 million. During the same period last year, the company earned ($0.90) EPS. The firm’s quarterly revenue was down 3.0% on a year-over-year basis. As a group, research analysts forecast that Arcus Biosciences will post -4.09 earnings per share for the current fiscal year.

Insider Activity

In other news, COO Jennifer Jarrett sold 21,521 shares of the company’s stock in a transaction on Friday, December 22nd. The stock was sold at an average price of $17.76, for a total transaction of $382,212.96. Following the completion of the sale, the chief operating officer now directly owns 258,878 shares of the company’s stock, valued at $4,597,673.28. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, COO Jennifer Jarrett sold 21,521 shares of the stock in a transaction dated Friday, December 22nd. The stock was sold at an average price of $17.76, for a total value of $382,212.96. Following the completion of the sale, the chief operating officer now directly owns 258,878 shares of the company’s stock, valued at approximately $4,597,673.28. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Robert C. Goeltz II sold 2,004 shares of the stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $20.00, for a total value of $40,080.00. Following the completion of the sale, the chief financial officer now directly owns 51,831 shares of the company’s stock, valued at $1,036,620. The disclosure for this sale can be found here. Insiders sold a total of 30,500 shares of company stock valued at $562,421 over the last three months. Insiders own 13.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Osaic Holdings Inc. boosted its stake in Arcus Biosciences by 51.4% during the 2nd quarter. Osaic Holdings Inc. now owns 1,620 shares of the company’s stock valued at $34,000 after purchasing an additional 550 shares during the period. The Manufacturers Life Insurance Company boosted its stake in Arcus Biosciences by 1.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 51,182 shares of the company’s stock valued at $1,040,000 after purchasing an additional 822 shares during the period. AQR Capital Management LLC boosted its stake in Arcus Biosciences by 0.7% during the 4th quarter. AQR Capital Management LLC now owns 120,964 shares of the company’s stock valued at $2,502,000 after purchasing an additional 856 shares during the period. Teachers Retirement System of The State of Kentucky boosted its stake in Arcus Biosciences by 6.1% during the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 15,950 shares of the company’s stock valued at $324,000 after purchasing an additional 912 shares during the period. Finally, State of Tennessee Treasury Department boosted its stake in Arcus Biosciences by 3.7% during the 2nd quarter. State of Tennessee Treasury Department now owns 31,948 shares of the company’s stock valued at $649,000 after purchasing an additional 1,127 shares during the period. Institutional investors and hedge funds own 74.67% of the company’s stock.

About Arcus Biosciences

(Get Free Report)

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 investigational monoclonal 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.

See Also

Analyst Recommendations for Arcus Biosciences (NYSE:RCUS)

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