Leerink Partners Issues Positive Forecast for Arcus Biosciences (NYSE:RCUS) Stock Price

Arcus Biosciences (NYSE:RCUS) had its target price boosted by equities research analysts at Leerink Partners from $36.00 to $49.00 in a report issued on Monday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Leerink Partners’ price objective would indicate a potential upside of 102.65% from the company’s current price.

RCUS has been the topic of a number of other research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Arcus Biosciences in a research report on Wednesday, January 21st. Wells Fargo & Company set a $23.00 price target on Arcus Biosciences and gave the company an “equal weight” rating in a report on Thursday, February 12th. Wall Street Zen raised Arcus Biosciences from a “sell” rating to a “hold” rating in a report on Saturday. Morgan Stanley reissued an “equal weight” rating and issued a $20.00 target price (down from $23.00) on shares of Arcus Biosciences in a report on Thursday, January 8th. Finally, Truist Financial set a $30.00 price target on Arcus Biosciences in a research note on Friday, December 12th. Eight equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $31.30.

Arcus Biosciences Stock Up 18.7%

Shares of Arcus Biosciences stock traded up $3.81 on Monday, reaching $24.18. The company’s stock had a trading volume of 2,411,971 shares, compared to its average volume of 1,244,598. Arcus Biosciences has a 52 week low of $6.50 and a 52 week high of $26.40. The firm’s fifty day simple moving average is $21.57 and its two-hundred day simple moving average is $18.56. The company has a quick ratio of 4.36, a current ratio of 4.36 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $3.03 billion, a price-to-earnings ratio of -7.33 and a beta of 0.85.

Arcus Biosciences (NYSE:RCUS) last released its quarterly earnings data on Wednesday, February 25th. The company reported ($0.89) EPS for the quarter, topping the consensus estimate of ($1.11) by $0.22. The company had revenue of $33.00 million during the quarter, compared to the consensus estimate of $24.94 million. Arcus Biosciences had a negative return on equity of 65.77% and a negative net margin of 142.91%.Arcus Biosciences’s revenue for the quarter was down 8.3% on a year-over-year basis. During the same period last year, the company earned ($1.03) EPS. Equities analysts anticipate that Arcus Biosciences will post -3.15 earnings per share for the current year.

Insiders Place Their Bets

In other Arcus Biosciences news, President Juan C. Jaen sold 31,823 shares of the firm’s stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $21.41, for a total transaction of $681,330.43. Following the sale, the president directly owned 922,240 shares of the company’s stock, valued at $19,745,158.40. This trade represents a 3.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Carolyn C. Tang sold 6,810 shares of the business’s stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $22.16, for a total value of $150,909.60. Following the completion of the transaction, the general counsel owned 124,734 shares in the company, valued at $2,764,105.44. The trade was a 5.18% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 263,987 shares of company stock worth $6,025,620 in the last three months. 9.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in shares of Arcus Biosciences by 20.1% during the fourth quarter. Vanguard Group Inc. now owns 7,962,874 shares of the company’s stock valued at $189,755,000 after buying an additional 1,333,421 shares during the last quarter. Suvretta Capital Management LLC grew its position in shares of Arcus Biosciences by 40.7% during the fourth quarter. Suvretta Capital Management LLC now owns 5,188,858 shares of the company’s stock valued at $123,650,000 after purchasing an additional 1,500,000 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Arcus Biosciences by 309.4% in the fourth quarter. Wellington Management Group LLP now owns 5,184,509 shares of the company’s stock worth $123,547,000 after buying an additional 3,918,220 shares in the last quarter. State Street Corp grew its holdings in Arcus Biosciences by 34.8% during the 4th quarter. State Street Corp now owns 4,576,969 shares of the company’s stock valued at $109,069,000 after buying an additional 1,182,115 shares in the last quarter. Finally, Marshall Wace LLP purchased a new position in Arcus Biosciences during the 4th quarter valued at approximately $80,731,000. 92.89% of the stock is currently owned by institutional investors.

About Arcus Biosciences

Arcus Biosciences is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of novel cancer immunotherapies. The company’s research platform centers on modulating tumor microenvironments and immune checkpoints through both small-molecule and antibody-based candidates. Arcus aims to enhance antitumor immune responses by targeting pathways such as the adenosine axis and inhibitory receptors on immune cells.

The company’s lead clinical programs include etrumadenant, an orally administered A2A adenosine receptor antagonist being evaluated in combination with anti-PD-1 therapy, and domvanalimab, an anti-TIGIT monoclonal antibody.