FY2029 Earnings Estimate for RCUS Issued By Wedbush

Arcus Biosciences, Inc. (NYSE:RCUS) – Stock analysts at Wedbush issued their FY2029 earnings estimates for shares of Arcus Biosciences in a research report issued to clients and investors on Tuesday, February 18th. Wedbush analyst R. Driscoll forecasts that the company will earn $3.03 per share for the year. Wedbush has a “Outperform” rating and a $36.00 price target on the stock. The consensus estimate for Arcus Biosciences’ current full-year earnings is ($3.20) per share.

RCUS has been the subject of several other research reports. Morgan Stanley dropped their price objective on shares of Arcus Biosciences from $36.00 to $25.00 and set an “overweight” rating for the company in a research note on Tuesday. Bank of America dropped their price objective on shares of Arcus Biosciences from $22.00 to $17.00 and set a “neutral” rating for the company in a research note on Wednesday. Barclays increased their price target on shares of Arcus Biosciences from $25.00 to $29.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Finally, HC Wainwright dropped their price target on shares of Arcus Biosciences from $20.00 to $18.00 and set a “neutral” rating for the company in a research note on Tuesday. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $29.50.

Arcus Biosciences Stock Down 3.1 %

Shares of NYSE RCUS opened at $10.76 on Thursday. Arcus Biosciences has a 12-month low of $10.63 and a 12-month high of $20.31. The stock has a market cap of $984.21 million, a PE ratio of -3.41 and a beta of 0.84. The company has a current ratio of 5.24, a quick ratio of 5.24 and a debt-to-equity ratio of 0.08. The company has a 50-day moving average of $14.02 and a 200 day moving average of $15.56.

Institutional Investors Weigh In On Arcus Biosciences

A number of hedge funds have recently added to or reduced their stakes in RCUS. Gilead Sciences Inc. acquired a new stake in Arcus Biosciences during the 4th quarter worth approximately $447,610,000. Boxer Capital Management LLC acquired a new stake in Arcus Biosciences during the 4th quarter worth approximately $23,857,000. Braidwell LP acquired a new stake in Arcus Biosciences during the 4th quarter worth approximately $11,943,000. Millennium Management LLC lifted its holdings in Arcus Biosciences by 277.1% during the 4th quarter. Millennium Management LLC now owns 924,369 shares of the company’s stock worth $13,764,000 after buying an additional 679,267 shares in the last quarter. Finally, Parkman Healthcare Partners LLC lifted its holdings in Arcus Biosciences by 146.9% during the 3rd quarter. Parkman Healthcare Partners LLC now owns 1,025,754 shares of the company’s stock worth $15,684,000 after buying an additional 610,219 shares in the last quarter. 92.89% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Robert C. Goeltz II sold 3,594 shares of the company’s stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $15.00, for a total value of $53,910.00. Following the transaction, the chief financial officer now directly owns 60,138 shares in the company, valued at approximately $902,070. This represents a 5.64 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 12.30% 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.