Analysts Set Arcus Biosciences, Inc. (NYSE:RCUS) Price Target at $33.67

Shares of Arcus Biosciences, Inc. (NYSE:RCUS - Get Free Report) have been given a consensus recommendation of "Buy" by the ten analysts that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation, eight have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $33.67.

Several research firms have commented on RCUS. Wedbush reaffirmed an "outperform" rating and set a $30.00 price objective on shares of Arcus Biosciences in a research note on Thursday, October 3rd. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Arcus Biosciences in a research note on Thursday, October 3rd. Evercore ISI raised Arcus Biosciences to a "strong-buy" rating in a research report on Friday, August 9th. Barclays boosted their price objective on Arcus Biosciences from $25.00 to $29.00 and gave the stock an "overweight" rating in a research note on Friday, October 25th. Finally, HC Wainwright restated a "neutral" rating and issued a $20.00 price target on shares of Arcus Biosciences in a report on Wednesday.

Arcus Biosciences Stock Performance

Shares of RCUS stock traded up $0.74 on Thursday, hitting $16.47. 2,495,273 shares of the company's stock traded hands, compared to its average volume of 734,657. The company's fifty day simple moving average is $16.61 and its 200 day simple moving average is $16.03. Arcus Biosciences has a one year low of $12.95 and a one year high of $20.31. The stock has a market capitalization of $1.51 billion, a price-to-earnings ratio of -5.09 and a beta of 0.89.

Arcus Biosciences (NYSE:RCUS - Get Free Report) last posted its earnings results on Wednesday, November 6th. The company reported ($1.00) earnings per share for the quarter, beating the consensus estimate of ($1.06) by $0.06. Arcus Biosciences had a negative net margin of 100.81% and a negative return on equity of 42.86%. The company had revenue of $48.00 million during the quarter, compared to analysts' expectations of $38.95 million. During the same period last year, the company posted ($0.94) earnings per share. Arcus Biosciences's quarterly revenue was up 50.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Arcus Biosciences will post -3.25 earnings per share for the current fiscal year.

Institutional Trading of Arcus Biosciences

Several institutional investors and hedge funds have recently added to or reduced their stakes in RCUS. Louisiana State Employees Retirement System lifted its stake in Arcus Biosciences by 2.6% during the second quarter. Louisiana State Employees Retirement System now owns 27,500 shares of the company's stock valued at $419,000 after buying an additional 700 shares in the last quarter. ProShare Advisors LLC lifted its stake in Arcus Biosciences by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 10,846 shares of the company's stock worth $205,000 after acquiring an additional 746 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in Arcus Biosciences by 9.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 12,940 shares of the company's stock worth $244,000 after acquiring an additional 1,090 shares during the period. Diversified Trust Co grew its stake in Arcus Biosciences by 12.1% during the 2nd quarter. Diversified Trust Co now owns 13,545 shares of the company's stock valued at $206,000 after acquiring an additional 1,467 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Arcus Biosciences by 5.6% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 32,356 shares of the company's stock valued at $583,000 after purchasing an additional 1,702 shares during the period. 92.89% of the stock is owned by institutional investors and hedge funds.

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.