Arcus Biosciences (NYSE:RCUS) Price Target Cut to $25.00 by Analysts 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 report released on Thursday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

Several other equities research analysts have also recently weighed in on RCUS. Wedbush restated an "outperform" rating and issued a $33.00 price objective on shares of Arcus Biosciences in a research report on Wednesday, May 7th. Barclays lowered their price target on shares of Arcus Biosciences from $29.00 to $14.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. Morgan Stanley lowered their price target on shares of Arcus Biosciences from $24.00 to $22.00 and set an "overweight" rating for the company in a research report on Friday, May 9th. Finally, The Goldman Sachs Group lowered their price target on shares of Arcus Biosciences from $15.00 to $13.00 and set a "neutral" rating for the company in a research report on Thursday, May 8th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $21.14.

Arcus Biosciences Price Performance

RCUS traded up $0.13 during midday trading on Thursday, hitting $9.19. The company had a trading volume of 1,031,429 shares, compared to its average volume of 1,037,617. The company has a debt-to-equity ratio of 0.18, a quick ratio of 4.50 and a current ratio of 4.50. The company has a market capitalization of $977.56 million, a PE ratio of -2.90 and a beta of 0.89. Arcus Biosciences has a twelve month low of $6.50 and a twelve month high of $18.98. The firm's 50-day simple moving average is $9.15 and its 200-day simple moving average is $9.41.

Arcus Biosciences (NYSE:RCUS - Get Free Report) last posted 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. The firm had revenue of $160.00 million during the quarter, compared to analysts' expectations of $32.86 million. Arcus Biosciences had a negative net margin of 109.56% and a negative return on equity of 55.96%. The company's quarterly revenue was up 310.3% compared to the same quarter last year. During the same quarter last year, the company posted ($1.02) EPS. Equities research analysts predict that Arcus Biosciences will post -3.15 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. CWM LLC boosted its stake 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 acquiring an additional 3,810 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Arcus Biosciences by 440.3% in the second quarter. PNC Financial Services Group Inc. now owns 7,597 shares of the company's stock worth $62,000 after purchasing an additional 6,191 shares in the last quarter. Strs Ohio bought a new stake in shares of Arcus Biosciences in the first quarter worth $67,000. E Fund Management Co. Ltd. bought a new stake in shares of Arcus Biosciences in the first quarter worth $82,000. Finally, Lazard Asset Management LLC increased its holdings in Arcus Biosciences by 3,321.3% during the fourth quarter. Lazard Asset Management LLC now owns 6,261 shares of the company's stock worth $93,000 after buying an additional 6,078 shares during the last quarter. Institutional investors 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.