Arcus Biosciences, Inc. (NYSE:RCUS) Given Average Rating of “Buy” by Brokerages

Shares of Arcus Biosciences, Inc. (NYSE:RCUS) have been given an average recommendation of “Buy” by the nine ratings firms that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $34.00.

A number of equities research analysts have recently issued reports on RCUS shares. Barclays boosted their price target on shares of Arcus Biosciences from $25.00 to $29.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Evercore ISI upgraded Arcus Biosciences to a “strong-buy” rating in a report on Friday, August 9th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Arcus Biosciences in a report on Thursday, October 3rd. HC Wainwright reissued a “neutral” rating and issued a $20.00 price objective on shares of Arcus Biosciences in a research note on Wednesday, November 6th. Finally, Wells Fargo & Company began coverage on Arcus Biosciences in a report on Tuesday, October 8th. They issued an “overweight” rating and a $29.00 target price on the stock.

Hedge Funds Weigh In On Arcus Biosciences

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Point72 Hong Kong Ltd acquired a new stake in Arcus Biosciences in the 3rd quarter worth approximately $47,000. Innealta Capital LLC bought a new position in shares of Arcus Biosciences in the second quarter valued at approximately $66,000. Point72 DIFC Ltd acquired a new stake in shares of Arcus Biosciences in the second quarter worth $83,000. Quest Partners LLC grew its stake in Arcus Biosciences by 40,904.3% in the 3rd quarter. Quest Partners LLC now owns 9,431 shares of the company’s stock valued at $144,000 after buying an additional 9,408 shares during the last quarter. Finally, Diversified Trust Co raised its holdings in Arcus Biosciences by 12.1% in the 2nd quarter. Diversified Trust Co now owns 13,545 shares of the company’s stock worth $206,000 after acquiring an additional 1,467 shares during the period. Institutional investors own 92.89% of the company’s stock.

Arcus Biosciences Stock Performance

RCUS opened at $17.29 on Monday. The company has a quick ratio of 5.24, a current ratio of 5.24 and a debt-to-equity ratio of 0.08. The firm has a market cap of $1.58 billion, a PE ratio of -5.49 and a beta of 0.88. The business has a fifty day simple moving average of $16.38 and a 200-day simple moving average of $16.02. Arcus Biosciences has a fifty-two week low of $13.52 and a fifty-two week high of $20.31.

Arcus Biosciences (NYSE:RCUS) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($1.00) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.06) by $0.06. The business had revenue of $48.00 million during the quarter, compared to analyst estimates of $38.95 million. Arcus Biosciences had a negative return on equity of 45.59% and a negative net margin of 102.66%. Arcus Biosciences’s revenue for the quarter was up 50.0% on a year-over-year basis. During the same quarter last year, the company posted ($0.94) EPS. As a group, equities analysts predict that Arcus Biosciences will post -3.2 EPS for the current fiscal year.

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.