Arcus Biosciences, Inc. (NYSE:RCUS) Given Average Rating of "Moderate Buy" by Analysts

Key Points

• Analysts give Arcus Biosciences a “Moderate Buy” consensus: Eight of 12 analysts recommend buying the stock, with an average 12-month price target of $37.80 versus its $30.14 opening price.
• Recent analyst actions were generally positive, including raised targets from Wedbush to $43 and HC Wainwright to $45, although Wells Fargo maintained an “equal weight” rating with a $26 target and Morgan Stanley set a $23 target.
• Arcus beat quarterly expectations, reporting a loss of $0.72 per share versus the $0.89 consensus estimate and revenue of $41 million versus $21.98 million expected. However, revenue declined 74.4% year over year, and insiders sold about $2.98 million of stock over the past 90 days.

Arcus Biosciences, Inc. (NYSE:RCUS - Get Free Report) has been assigned an average rating of "Moderate Buy" from the twelve analysts that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation and eight have given a buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $37.80.

Several equities analysts have recently weighed in on RCUS shares. Wedbush lifted their target price on shares of Arcus Biosciences from $41.00 to $43.00 and gave the stock an "outperform" rating in a research note on Thursday, August 6th. Wells Fargo & Company raised their price objective on shares of Arcus Biosciences from $23.00 to $26.00 and gave the stock an "equal weight" rating in a report on Thursday, August 6th. Truist Financial began coverage on shares of Arcus Biosciences in a report on Monday, May 18th. They set a "buy" rating and a $35.00 target price on the stock. HC Wainwright boosted their price objective on Arcus Biosciences from $32.00 to $45.00 and gave the company a "buy" rating in a research note on Monday, July 20th. Finally, Morgan Stanley set a $23.00 price objective on Arcus Biosciences in a report on Monday, August 10th.

Arcus Biosciences Stock Performance

Shares of RCUS stock opened at $30.14 on Friday. The firm has a market cap of $3.84 billion, a price-to-earnings ratio of -7.73 and a beta of 0.80. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.82 and a current ratio of 3.82. Arcus Biosciences has a 52 week low of $10.07 and a 52 week high of $31.74. The firm's 50-day simple moving average is $28.50 and its two-hundred day simple moving average is $24.76.

Arcus Biosciences (NYSE:RCUS - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported ($0.72) earnings per share for the quarter, beating analysts' consensus estimates of ($0.89) by $0.17. The firm had revenue of $41.00 million during the quarter, compared to the consensus estimate of $21.98 million. Arcus Biosciences had a negative net margin of 393.16% and a negative return on equity of 89.54%. Arcus Biosciences's quarterly revenue was down 74.4% compared to the same quarter last year. As a group, equities analysts forecast that Arcus Biosciences will post -3.53 earnings per share for the current year.

Insider Transactions at Arcus Biosciences

In other news, President Juan C. Jaen sold 48,502 shares of the firm's stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of $30.05, for a total value of $1,457,485.10. Following the completion of the transaction, the president directly owned 842,307 shares in the company, valued at approximately $25,311,325.35. This trade represents a 5.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Alexander Azoy sold 2,562 shares of the business's stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $25.77, for a total transaction of $66,022.74. Following the transaction, the chief accounting officer directly owned 39,581 shares of the company's stock, valued at approximately $1,020,002.37. This represents a 6.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 102,562 shares of company stock valued at $2,975,354 in the last ninety days. Insiders own 7.60% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. BlackRock Inc. purchased a new position in shares of Arcus Biosciences during the 2nd quarter valued at $506,113,000. Wellington Management Group LLP raised its position in shares of Arcus Biosciences by 309.4% in the fourth quarter. Wellington Management Group LLP now owns 5,184,509 shares of the company's stock worth $123,547,000 after buying an additional 3,918,220 shares in the last quarter. Marshall Wace LLP bought a new stake in Arcus Biosciences during the fourth quarter valued at $80,731,000. Suvretta Capital Management LLC boosted its stake in Arcus Biosciences by 40.7% during the fourth quarter. Suvretta Capital Management LLC now owns 5,188,858 shares of the company's stock valued at $123,650,000 after buying an additional 1,500,000 shares during the period. Finally, Toronto Dominion Bank purchased a new position in Arcus Biosciences during the fourth quarter worth about $35,380,000. 92.89% of the stock is owned by institutional investors.

Arcus Biosciences Company Profile

Arcus Biosciences is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of novel cancer immunotherapies. The company's research platform centers on modulating tumor microenvironments and immune checkpoints through both small-molecule and antibody-based candidates. Arcus aims to enhance antitumor immune responses by targeting pathways such as the adenosine axis and inhibitory receptors on immune cells.

The company's lead clinical programs include etrumadenant, an orally administered A2A adenosine receptor antagonist being evaluated in combination with anti-PD-1 therapy, and domvanalimab, an anti-TIGIT monoclonal antibody.

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