Analysts Set Arcus Biosciences, Inc. (NYSE:RCUS) PT at $21.29

Arcus Biosciences, Inc. (NYSE:RCUS - Get Free Report) has earned a consensus rating of "Moderate Buy" from the nine research firms that are covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation, six have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $21.29.

Several equities research analysts have recently weighed in on RCUS shares. The Goldman Sachs Group reduced their target price on shares of Arcus Biosciences from $15.00 to $13.00 and set a "neutral" rating on the stock in a research note on Thursday, May 8th. Barclays reduced their price objective on shares of Arcus Biosciences from $29.00 to $14.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 23rd. Morgan Stanley decreased their price objective on shares of Arcus Biosciences from $24.00 to $22.00 and set an "overweight" rating for the company in a research note on Friday, May 9th. Wedbush restated an "outperform" rating and set a $33.00 target price on shares of Arcus Biosciences in a research report on Wednesday, May 7th. Finally, Wells Fargo & Company reduced their price target on Arcus Biosciences from $29.00 to $26.00 and set an "overweight" rating on the stock in a report on Wednesday, May 7th.

Institutional Investors Weigh In On Arcus Biosciences

Hedge funds have recently modified their holdings of the business. Lazard Asset Management LLC lifted its position in shares of Arcus Biosciences by 3,321.3% during the fourth quarter. Lazard Asset Management LLC now owns 6,261 shares of the company's stock valued at $93,000 after buying an additional 6,078 shares during the last quarter. Strs Ohio bought a new position in shares of Arcus Biosciences during the 1st quarter worth approximately $67,000. PEAK6 LLC purchased a new stake in Arcus Biosciences during the fourth quarter valued at approximately $149,000. E Fund Management Co. Ltd. acquired a new stake in Arcus Biosciences in the first quarter valued at approximately $82,000. Finally, AXQ Capital LP purchased a new position in Arcus Biosciences in the fourth quarter worth $160,000. Hedge funds and other institutional investors own 92.89% of the company's stock.

Arcus Biosciences Trading Down 2.9%

RCUS stock traded down $0.27 during midday trading on Friday, reaching $9.15. 437,295 shares of the company traded hands, compared to its average volume of 885,669. The firm has a market capitalization of $968.89 million, a price-to-earnings ratio of -2.18 and a beta of 0.80. Arcus Biosciences has a 52-week low of $6.50 and a 52-week high of $18.98. The business has a 50 day moving average of $8.95 and a 200-day moving average of $10.03. The company has a debt-to-equity ratio of 0.09, a quick ratio of 5.37 and a current ratio of 5.37.

Arcus Biosciences (NYSE:RCUS - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported ($1.14) earnings per share for the quarter, missing the consensus estimate of ($1.02) by ($0.12). The company had revenue of $28.00 million for the quarter, compared to analysts' expectations of $38.61 million. Arcus Biosciences had a negative net margin of 258.94% and a negative return on equity of 70.58%. The business's quarterly revenue was down 80.7% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.05) EPS. As a group, sell-side analysts expect that Arcus Biosciences will post -3.15 earnings per share for the current fiscal year.

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.