Cantor Fitzgerald Lowers Arcus Biosciences (NYSE:RCUS) Price Target to $48.00

Arcus Biosciences (NYSE:RCUSGet Rating) had its price target lowered 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 would suggest a potential upside of 75.63% from the stock’s previous close.

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

Arcus Biosciences Price Performance

NYSE RCUS opened at $27.33 on Thursday. The stock has a market capitalization of $1.97 billion, a price-to-earnings ratio of 38.49 and a beta of 0.71. Arcus Biosciences has a one year low of $16.74 and a one year high of $49.10. The business’s fifty day moving average is $25.11 and its 200-day moving average is $28.02.

Arcus Biosciences (NYSE:RCUSGet Rating) last released its earnings results on Wednesday, August 3rd. The company reported ($0.93) EPS for the quarter, hitting analysts’ consensus estimates 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 business posted ($1.09) EPS. Research analysts expect that Arcus Biosciences will post -4.03 EPS for the current fiscal year.

Insider Activity

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. DekaBank Deutsche Girozentrale grew its holdings in shares of Arcus Biosciences by 10.0% during the first quarter. DekaBank Deutsche Girozentrale now owns 43,000 shares of the company’s stock worth $1,436,000 after purchasing an additional 3,900 shares in the last quarter. Swiss National Bank boosted its stake in Arcus Biosciences by 0.7% in the fourth quarter. Swiss National Bank now owns 86,496 shares of the company’s stock worth $3,500,000 after buying an additional 600 shares in the last quarter. Pictet Asset Management SA boosted its stake in Arcus Biosciences by 9.8% in the fourth quarter. Pictet Asset Management SA now owns 1,648,990 shares of the company’s stock worth $66,735,000 after buying an additional 147,762 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in Arcus Biosciences in the fourth quarter worth approximately $251,000. Finally, American Century Companies Inc. boosted its stake in Arcus Biosciences by 330.5% in the fourth quarter. American Century Companies Inc. now owns 115,804 shares of the company’s stock worth $4,687,000 after buying an additional 88,904 shares in the last quarter. Hedge funds and other institutional investors own 73.54% of the company’s stock.

Arcus Biosciences Company Profile

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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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