Arcus Biosciences (NYSE:RCUS) Given New $48.00 Price Target at Cantor Fitzgerald

Arcus Biosciences (NYSE:RCUSGet Rating) had its price target dropped by equities research analysts at Cantor Fitzgerald from $62.00 to $48.00 in a research report issued on Thursday, The Fly reports. Cantor Fitzgerald’s price target indicates a potential upside of 75.63% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the company. SVB Leerink dropped their price objective on Arcus Biosciences from $66.00 to $49.00 and set an “outperform” rating on the stock in a research report on Thursday. Wedbush dropped their target price on Arcus Biosciences from $42.00 to $36.00 and set an “outperform” rating on the stock in a research report on Thursday. Finally, Truist Financial dropped their target price on Arcus Biosciences from $77.00 to $50.00 and set a “buy” rating on the stock in a research report on Friday, July 8th. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $48.75.

Arcus Biosciences Trading Up 1.8 %

NYSE RCUS opened at $27.33 on Thursday. Arcus Biosciences has a 12 month low of $16.74 and a 12 month high of $49.10. The stock has a market cap of $1.97 billion, a P/E ratio of 38.49 and a beta of 0.71. The stock’s fifty day moving average price is $25.11 and its 200-day moving average price is $28.02.

Arcus Biosciences (NYSE:RCUSGet Rating) last released its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.93) EPS for the quarter, meeting the consensus estimate of ($0.93). Arcus Biosciences had a return on equity of 9.12% and a net margin of 16.34%. During the same quarter in the previous year, the firm earned ($1.09) EPS. As a group, analysts forecast that Arcus Biosciences will post -4.03 earnings per share for the current fiscal year.

Insider Transactions at Arcus Biosciences

In other news, President Juan C. Jaen sold 2,333 shares of the firm’s stock in a transaction dated Thursday, June 16th. The stock was sold at an average price of $20.72, for a total value of $48,339.76. Following the transaction, the president now owns 212,574 shares of the company’s stock, valued at $4,404,533.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, President Juan C. Jaen sold 2,333 shares of the firm’s stock in a transaction dated Thursday, June 16th. The stock was sold at an average price of $20.72, for a total value of $48,339.76. Following the transaction, the president now owns 212,574 shares of the company’s stock, valued at $4,404,533.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Carolyn C. Tang sold 1,400 shares of the firm’s stock in a transaction dated Thursday, June 16th. The stock was sold at an average price of $20.72, for a total value of $29,008.00. Following the completion of the transaction, the general counsel now directly owns 25,431 shares in the company, valued at approximately $526,930.32. The disclosure for this sale can be found here. Insiders have sold 14,055 shares of company stock valued at $291,220 over the last quarter. 12.70% of the stock is currently owned by company insiders.

Institutional Trading of Arcus Biosciences

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Lazard Asset Management LLC bought a new stake in Arcus Biosciences during the 1st quarter valued at approximately $76,000. KBC Group NV bought a new stake in Arcus Biosciences during the 2nd quarter valued at approximately $102,000. C M Bidwell & Associates Ltd. purchased a new position in Arcus Biosciences during the 4th quarter valued at approximately $122,000. TriaGen Wealth Management LLC purchased a new position in Arcus Biosciences during the 4th quarter valued at approximately $202,000. Finally, PDT Partners LLC purchased a new position in Arcus Biosciences during the 4th quarter valued at approximately $204,000. Institutional investors own 73.54% of the company’s stock.

Arcus Biosciences Company Profile

(Get Rating)

Arcus Biosciences, Inc, a clinical-stage biopharmaceutical company, develops and commercializes cancer therapies in the United States. Its product pipeline includes, Etrumadenant, a dual A2a/A2b adenosine receptor antagonist, which is in a Phase 1b/2 clinical trial; and Zimberelimab, an anti-PD-1 antibody that is in Phase 1b clinical trial for monotherapy.

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