Analysts Set Arcus Biosciences, Inc. (NYSE:RCUS) Target Price at $21.14

Key Points

• Arcus Biosciences (NYSE:RCUS) has received a consensus rating of “Moderate Buy” from eight analysts, with a price target averaging $21.14.
• Recent earnings results showed the company reported a 310.3% increase in revenue year-over-year, with earnings per share of -$1.11, exceeding analyst expectations of -$1.14.
• Institutional ownership is significant, with 92.89% of shares held by institutional investors, highlighting strong confidence in the company's future.

Arcus Biosciences, Inc. (NYSE:RCUS - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the eight brokerages that are currently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $21.1429.

Several equities research analysts have commented on RCUS shares. Wells Fargo & Company cut their price objective on Arcus Biosciences from $26.00 to $25.00 and set an "overweight" rating for the company in a research note on Thursday, August 7th. Wall Street Zen upgraded Arcus Biosciences from a "strong sell" rating to a "hold" rating in a research note on Saturday, August 9th.

Institutional Trading of Arcus Biosciences

Hedge funds have recently added to or reduced their stakes in the stock. CWM LLC increased its position in Arcus Biosciences by 233.6% during the 2nd quarter. CWM LLC now owns 5,441 shares of the company's stock worth $44,000 after purchasing an additional 3,810 shares during the period. Ameritas Investment Partners Inc. increased its position in Arcus Biosciences by 34.3% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 7,038 shares of the company's stock worth $57,000 after purchasing an additional 1,796 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in Arcus Biosciences by 440.3% in the second quarter. PNC Financial Services Group Inc. now owns 7,597 shares of the company's stock valued at $62,000 after purchasing an additional 6,191 shares during the last quarter. Strs Ohio acquired a new stake in shares of Arcus Biosciences during the first quarter worth approximately $67,000. Finally, Tower Research Capital LLC TRC increased its position in shares of Arcus Biosciences by 184.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 8,449 shares of the company's stock worth $69,000 after purchasing an additional 5,476 shares during the last quarter. 92.89% of the stock is owned by institutional investors and hedge funds.

Arcus Biosciences Price Performance

Shares of Arcus Biosciences stock traded up $0.38 on Friday, hitting $11.70. The company's stock had a trading volume of 353,261 shares, compared to its average volume of 1,002,961. The company has a debt-to-equity ratio of 0.18, a quick ratio of 4.50 and a current ratio of 4.50. Arcus Biosciences has a 1 year low of $6.50 and a 1 year high of $18.98. The firm has a fifty day moving average price of $9.84 and a 200-day moving average price of $9.13. The company has a market capitalization of $1.25 billion, a price-to-earnings ratio of -3.68 and a beta of 0.82.

Arcus Biosciences (NYSE:RCUS - Get Free Report) last announced its quarterly earnings results 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 firm had revenue of $160.00 million during the quarter, compared to analyst estimates of $32.86 million. During the same quarter in the previous year, the business earned ($1.02) EPS. Arcus Biosciences's revenue for the quarter was up 310.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Arcus Biosciences will post -3.15 earnings per share 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.