Arcus Biosciences, Inc. (NYSE:RCUS) Given Consensus Recommendation of “Moderate Buy” by Analysts

Arcus Biosciences, Inc. (NYSE:RCUS) has been assigned a consensus recommendation of “Moderate Buy” from the eight research firms that are presently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $21.1429.

A number of brokerages have issued reports on RCUS. Morgan Stanley decreased their price target on Arcus Biosciences from $24.00 to $22.00 and set an “overweight” rating for the company in a research note on Friday, May 9th. Wells Fargo & Company decreased their target price on Arcus Biosciences from $26.00 to $25.00 and set an “overweight” rating for the company in a research report on Thursday, August 7th. Finally, Wall Street Zen raised Arcus Biosciences from a “strong sell” rating to a “hold” rating in a research report on Saturday, August 9th.

Arcus Biosciences Stock Performance

Shares of RCUS stock opened at $12.22 on Friday. Arcus Biosciences has a 12-month low of $6.50 and a 12-month high of $18.98. The firm has a market capitalization of $1.30 billion, a price-to-earnings ratio of -3.85 and a beta of 0.83. The business has a 50 day simple moving average of $9.71 and a 200 day simple moving average of $9.14. The company has a debt-to-equity ratio of 0.18, a current ratio of 4.50 and a quick ratio of 4.50.

Arcus Biosciences (NYSE:RCUS) last issued its quarterly earnings results on Wednesday, August 6th. The company reported ($1.11) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.14) by $0.03. The firm had revenue of $160.00 million during the quarter, compared to analyst estimates of $32.86 million. Arcus Biosciences had a negative return on equity of 55.96% and a negative net margin of 109.56%.The firm’s quarterly revenue was up 310.3% on a year-over-year basis. During the same period last year, the company posted ($1.02) EPS. On average, equities research analysts anticipate that Arcus Biosciences will post -3.15 EPS for the current year.

Institutional Trading of Arcus Biosciences

Several hedge funds and other institutional investors have recently modified their holdings of RCUS. Raymond James Financial Inc. acquired a new stake in shares of Arcus Biosciences in the fourth quarter worth $531,000. First Trust Advisors LP boosted its position in shares of Arcus Biosciences by 43.1% in the fourth quarter. First Trust Advisors LP now owns 17,708 shares of the company’s stock worth $264,000 after buying an additional 5,337 shares during the period. Voya Investment Management LLC boosted its position in shares of Arcus Biosciences by 37.5% in the fourth quarter. Voya Investment Management LLC now owns 24,674 shares of the company’s stock worth $367,000 after buying an additional 6,733 shares during the period. Northern Trust Corp boosted its position in Arcus Biosciences by 4.3% during the fourth quarter. Northern Trust Corp now owns 532,099 shares of the company’s stock valued at $7,923,000 after purchasing an additional 22,181 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its position in Arcus Biosciences by 17.3% during the fourth quarter. Ameriprise Financial Inc. now owns 1,547,591 shares of the company’s stock valued at $23,044,000 after purchasing an additional 228,325 shares during the last quarter. Institutional investors and hedge funds own 92.89% of the company’s stock.

About Arcus Biosciences

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.