Arcus Biosciences (NYSE:RCUS) Given New $25.00 Price Target at Wells Fargo & Company

Key Points

• The price target for Arcus Biosciences has been lowered by Wells Fargo & Company from $26.00 to $25.00, indicating a potential upside of 165.82% from its last closing price.
• Analysts have varied opinions on Arcus, with targets ranging from $14.00 to $33.00 and a consensus rating of "Moderate Buy."
• In its latest earnings report, Arcus Biosciences surpassed EPS estimates with a loss of ($1.11), while revenue increased by 310.3% year-over-year.

Arcus Biosciences (NYSE:RCUS - Free Report) had its target price decreased by Wells Fargo & Company from $26.00 to $25.00 in a research note issued to investors on Thursday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

Several other equities research analysts also recently commented on the stock. Wedbush reiterated an "outperform" rating and set a $33.00 target price on shares of Arcus Biosciences in a research report on Wednesday, May 7th. The Goldman Sachs Group cut 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 report on Thursday, May 8th. Morgan Stanley cut their target price on shares of Arcus Biosciences from $24.00 to $22.00 and set an "overweight" rating on the stock in a research report on Friday, May 9th. Finally, Barclays cut 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 report on Wednesday, April 23rd. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Arcus Biosciences presently has a consensus rating of "Moderate Buy" and an average target price of $21.14.

Arcus Biosciences Price Performance

Shares of Arcus Biosciences stock traded down $0.20 during midday trading on Thursday, hitting $9.09. 750,980 shares of the company traded hands, compared to its average volume of 721,078. The stock has a market cap of $962.01 million, a price-to-earnings ratio of -2.87 and a beta of 0.89. The company has a debt-to-equity ratio of 0.18, a quick ratio of 5.37 and a current ratio of 4.50. The firm's fifty day moving average price is $9.15 and its 200-day moving average price is $9.44. 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 announced its quarterly earnings results on Wednesday, August 6th. The company reported ($1.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.14) by $0.03. The company had revenue of $160.00 million for the quarter, compared to analyst estimates of $32.86 million. Arcus Biosciences had a negative net margin of 109.56% and a negative return on equity of 55.96%. The firm's revenue was up 310.3% on a year-over-year basis. During the same period in the previous year, the firm posted ($1.02) EPS. As a group, sell-side analysts forecast that Arcus Biosciences will post -3.15 earnings per share for the current year.

Institutional Investors Weigh In On Arcus Biosciences

A number of institutional investors have recently modified their holdings of the company. CWM LLC lifted its position in shares of Arcus Biosciences by 233.6% during the 2nd quarter. CWM LLC now owns 5,441 shares of the company's stock valued at $44,000 after acquiring an additional 3,810 shares during the period. PNC Financial Services Group Inc. lifted its position in shares of Arcus Biosciences by 440.3% during the 2nd quarter. PNC Financial Services Group Inc. now owns 7,597 shares of the company's stock valued at $62,000 after acquiring an additional 6,191 shares during the period. Strs Ohio acquired a new position in shares of Arcus Biosciences during the 1st quarter valued at $67,000. E Fund Management Co. Ltd. acquired a new position in shares of Arcus Biosciences during the 1st quarter valued at $82,000. Finally, Lazard Asset Management LLC lifted its position in shares of Arcus Biosciences by 3,321.3% during the 4th quarter. Lazard Asset Management LLC now owns 6,261 shares of the company's stock valued at $93,000 after acquiring an additional 6,078 shares during the period. 92.89% of the stock is owned by institutional investors.

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.