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

Arcus Biosciences, Inc. (NYSE:RCUS - Get Free Report) has been assigned an average rating of "Moderate Buy" from the eleven research firms that are currently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $25.67.

RCUS has been the subject of several recent research reports. HC Wainwright raised Arcus Biosciences from a "neutral" rating to a "buy" rating and boosted their price target for the company from $18.00 to $24.00 in a report on Wednesday, February 26th. Morgan Stanley cut their price objective 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. Barclays decreased their target price on shares of Arcus Biosciences from $29.00 to $14.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 23rd. The Goldman Sachs Group lowered their price target on shares of Arcus Biosciences from $15.00 to $13.00 and set a "neutral" rating on the stock in a report on Thursday, May 8th. Finally, Wedbush restated an "outperform" rating and set a $33.00 price objective on shares of Arcus Biosciences in a research report on Wednesday, May 7th.

Hedge Funds Weigh In On Arcus Biosciences

Several hedge funds have recently modified their holdings of the stock. Gilead Sciences Inc. bought a new stake in Arcus Biosciences in the 4th quarter valued at $447,610,000. Woodline Partners LP increased its holdings in shares of Arcus Biosciences by 45.5% in the first quarter. Woodline Partners LP now owns 5,127,304 shares of the company's stock worth $40,249,000 after purchasing an additional 1,603,367 shares during the last quarter. Boxer Capital Management LLC bought a new stake in shares of Arcus Biosciences in the fourth quarter worth about $23,857,000. Vanguard Group Inc. lifted its position in shares of Arcus Biosciences by 24.1% in the first quarter. Vanguard Group Inc. now owns 6,687,800 shares of the company's stock worth $52,499,000 after buying an additional 1,298,584 shares in the last quarter. Finally, RA Capital Management L.P. purchased a new stake in shares of Arcus Biosciences in the first quarter worth about $8,920,000. Hedge funds and other institutional investors own 92.89% of the company's stock.

Arcus Biosciences Stock Performance

Shares of NYSE:RCUS traded down $0.53 during trading on Thursday, hitting $8.98. The company's stock had a trading volume of 1,379,583 shares, compared to its average volume of 858,923. The company has a debt-to-equity ratio of 0.08, a current ratio of 5.24 and a quick ratio of 5.24. The firm has a market cap of $950.85 million, a price-to-earnings ratio of -2.85 and a beta of 0.88. The company has a 50-day moving average of $8.25 and a 200-day moving average of $11.64. Arcus Biosciences has a 12 month low of $6.50 and a 12 month high of $18.98.

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 business had revenue of $28.00 million during the quarter, compared to the consensus estimate of $38.61 million. Arcus Biosciences had a negative return on equity of 45.59% and a negative net margin of 102.66%. The firm's revenue was down 80.7% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.05) earnings per share. On average, sell-side analysts expect that Arcus Biosciences will post -3.15 earnings per share for the current 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.