Arcus Biosciences, Inc. (NYSE:RCUS) Receives Average Recommendation of "Moderate Buy" from Brokerages

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 earned an average rating of "Moderate Buy" from the eight research firms that are currently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $21.1429.

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

Institutional Trading of Arcus Biosciences

Several institutional investors have recently added to or reduced their stakes in RCUS. Gilead Sciences Inc. lifted its stake in Arcus Biosciences by 4.5% during the 1st quarter. Gilead Sciences Inc. now owns 31,424,760 shares of the company's stock valued at $246,684,000 after acquiring an additional 1,363,636 shares during the period. Vanguard Group Inc. raised its holdings in shares of Arcus Biosciences by 24.1% during the first quarter. Vanguard Group Inc. now owns 6,687,800 shares of the company's stock valued at $52,499,000 after purchasing an additional 1,298,584 shares during the last quarter. Woodline Partners LP lifted its position in Arcus Biosciences by 45.5% during the first quarter. Woodline Partners LP now owns 5,127,304 shares of the company's stock valued at $40,249,000 after purchasing an additional 1,603,367 shares during the period. Geode Capital Management LLC lifted its position in Arcus Biosciences by 14.9% during the second quarter. Geode Capital Management LLC now owns 1,596,329 shares of the company's stock valued at $12,995,000 after purchasing an additional 207,097 shares during the period. Finally, Ameriprise Financial Inc. boosted its holdings in Arcus Biosciences by 17.3% in the fourth quarter. Ameriprise Financial Inc. now owns 1,547,591 shares of the company's stock worth $23,044,000 after purchasing an additional 228,325 shares during the last quarter. 92.89% of the stock is currently owned by hedge funds and other institutional investors.

Arcus Biosciences Stock Down 1.8%

RCUS traded down $0.22 during midday trading on Friday, reaching $11.51. The company's stock had a trading volume of 735,007 shares, compared to its average volume of 721,481. Arcus Biosciences has a 1 year low of $6.50 and a 1 year high of $18.98. The stock's 50-day moving average is $9.96 and its 200-day moving average is $9.16. The firm has a market capitalization of $1.22 billion, a price-to-earnings ratio of -3.63 and a beta of 0.83. The company has a current ratio of 4.50, a quick ratio of 4.50 and a debt-to-equity ratio of 0.18.

Arcus Biosciences (NYSE:RCUS - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported ($1.11) earnings per share for the quarter, topping 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 company had revenue of $160.00 million for the quarter, compared to the consensus estimate of $32.86 million. During the same quarter in the prior year, the business posted ($1.02) EPS. The firm's quarterly revenue was up 310.3% compared to the same quarter last year. As a group, research analysts expect that Arcus Biosciences will post -3.15 EPS 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.