Arcus Biosciences, Inc. (NYSE:RCUS) Receives Consensus Rating of "Moderate Buy" from Analysts

Key Points

• Arcus Biosciences received a consensus rating of "Moderate Buy" from analysts, with six firms issuing buy ratings and two having a hold rating.
• The average 12-month target price set by analysts for Arcus stock is $21.1429, significantly higher than its current trading value.
• In its latest earnings report, Arcus reported a revenue of $160 million, a substantial increase of 310.3% compared to the same quarter last year, despite posting a loss of ($1.11) earnings per share.

Arcus Biosciences, Inc. (NYSE:RCUS - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the eight ratings firms that are presently covering the company, MarketBeat reports. Two research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12 month target price among analysts that have covered the stock in the last year is $21.1429.

A number of research firms have recently weighed in on RCUS. Wall Street Zen upgraded shares of Arcus Biosciences from a "strong sell" rating to a "hold" rating in a research note on Saturday, August 9th. Wells Fargo & Company cut their target price on shares of Arcus Biosciences from $26.00 to $25.00 and set an "overweight" rating on the stock in a research report on Thursday, August 7th.

Arcus Biosciences Stock Performance

NYSE:RCUS opened at $13.61 on Wednesday. The stock's 50-day simple moving average is $10.82 and its 200 day simple moving average is $9.38. The firm has a market capitalization of $1.45 billion, a PE ratio of -4.29 and a beta of 0.83. The company has a quick ratio of 4.50, a current ratio of 4.50 and a debt-to-equity ratio of 0.18. Arcus Biosciences has a twelve month low of $6.50 and a twelve month high of $18.98.

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

Insider Buying and Selling at Arcus Biosciences

In other news, CAO Alexander Azoy sold 2,831 shares of Arcus Biosciences stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $13.00, for a total transaction of $36,803.00. Following the sale, the chief accounting officer directly owned 27,363 shares of the company's stock, valued at approximately $355,719. This trade represents a 9.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 9.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Arcus Biosciences

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Corient Private Wealth LLC acquired a new position in Arcus Biosciences in the second quarter valued at $180,000. Squarepoint Ops LLC lifted its stake in shares of Arcus Biosciences by 163.7% in the 2nd quarter. Squarepoint Ops LLC now owns 199,649 shares of the company's stock valued at $1,625,000 after purchasing an additional 123,938 shares during the period. Marex Group plc acquired a new position in shares of Arcus Biosciences in the 2nd quarter valued at about $138,000. Hudson Bay Capital Management LP lifted its stake in shares of Arcus Biosciences by 16.7% in the 2nd quarter. Hudson Bay Capital Management LP now owns 430,000 shares of the company's stock valued at $3,500,000 after purchasing an additional 61,450 shares during the period. Finally, Public Sector Pension Investment Board lifted its stake in shares of Arcus Biosciences by 8.3% in the 2nd quarter. Public Sector Pension Investment Board now owns 231,024 shares of the company's stock valued at $1,881,000 after purchasing an additional 17,652 shares during the period. Institutional investors and hedge funds own 92.89% of the company's stock.

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.

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