Analysts Set Arcus Biosciences, Inc. (NYSE:RCUS) PT at $34.88

Arcus Biosciences, Inc. (NYSE:RCUS - Get Free Report) has received an average recommendation of "Buy" from the nine ratings firms that are covering the firm, MarketBeat Ratings reports. Eight investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $34.88.

Several brokerages recently weighed in on RCUS. Wells Fargo & Company started coverage on Arcus Biosciences in a research note on Tuesday, October 8th. They issued an "overweight" rating and a $29.00 price target on the stock. Barclays lowered their price target on shares of Arcus Biosciences from $35.00 to $25.00 and set an "overweight" rating for the company in a research report on Monday, July 8th. Evercore ISI raised shares of Arcus Biosciences to a "strong-buy" rating in a research report on Friday, August 9th. Truist Financial lowered their price target on shares of Arcus Biosciences from $50.00 to $44.00 and set a "buy" rating for the company in a research report on Monday, June 24th. Finally, Cantor Fitzgerald reissued an "overweight" rating on shares of Arcus Biosciences in a research report on Thursday, October 3rd.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of RCUS. Vanguard Group Inc. boosted its holdings in Arcus Biosciences by 2.4% in the first quarter. Vanguard Group Inc. now owns 4,791,244 shares of the company's stock worth $90,459,000 after purchasing an additional 110,528 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in Arcus Biosciences by 8.7% in the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 744,298 shares of the company's stock worth $11,336,000 after purchasing an additional 59,273 shares during the period. Nordea Investment Management AB grew its position in Arcus Biosciences by 26.3% in the 1st quarter. Nordea Investment Management AB now owns 259,372 shares of the company's stock worth $4,892,000 after purchasing an additional 53,944 shares during the period. SG Americas Securities LLC grew its position in Arcus Biosciences by 1,396.1% in the 2nd quarter. SG Americas Securities LLC now owns 129,292 shares of the company's stock worth $1,969,000 after purchasing an additional 120,650 shares during the period. Finally, Public Sector Pension Investment Board grew its position in Arcus Biosciences by 7.4% in the 2nd quarter. Public Sector Pension Investment Board now owns 120,099 shares of the company's stock worth $1,829,000 after purchasing an additional 8,253 shares during the period. 92.89% of the stock is owned by institutional investors.

Arcus Biosciences Stock Up 7.4 %

Shares of NYSE:RCUS traded up $1.27 on Friday, hitting $18.37. The company had a trading volume of 1,022,866 shares, compared to its average volume of 718,090. Arcus Biosciences has a 1 year low of $12.95 and a 1 year high of $20.31. The firm's 50-day simple moving average is $16.35 and its two-hundred day simple moving average is $16.06. The firm has a market capitalization of $1.67 billion, a price-to-earnings ratio of -5.91 and a beta of 0.88.

Arcus Biosciences (NYSE:RCUS - Get Free Report) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($1.02) earnings per share for the quarter, meeting the consensus estimate of ($1.02). Arcus Biosciences had a negative return on equity of 42.86% and a negative net margin of 100.81%. The business had revenue of $39.00 million for the quarter, compared to analysts' expectations of $26.24 million. During the same period in the previous year, the firm posted ($1.04) EPS. The business's revenue was up 34.5% on a year-over-year basis. Equities research analysts anticipate that Arcus Biosciences will post -3.03 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.