Arcus Biosciences (NYSE:RCUS) Posts Quarterly Earnings Results

Arcus Biosciences (NYSE:RCUS) posted its quarterly earnings results on Wednesday. The company reported ($1.00) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.06) by $0.06, Briefing.com reports. The business had revenue of $48.00 million for the quarter, compared to analysts’ expectations of $38.95 million. Arcus Biosciences had a negative net margin of 102.66% and a negative return on equity of 44.90%. The business’s revenue for the quarter was up 50.0% on a year-over-year basis. During the same period in the prior year, the company posted ($0.94) EPS.

Arcus Biosciences Price Performance

NYSE:RCUS traded up $1.39 during trading hours on Friday, reaching $17.85. 1,113,558 shares of the company were exchanged, compared to its average volume of 736,403. Arcus Biosciences has a 52-week low of $12.95 and a 52-week high of $20.31. The stock has a 50 day simple moving average of $16.61 and a 200 day simple moving average of $16.06. The firm has a market cap of $1.63 billion, a price-to-earnings ratio of -5.67 and a beta of 0.89.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on RCUS shares. Wedbush restated an “outperform” rating and issued a $36.00 price target on shares of Arcus Biosciences in a report on Thursday. Wells Fargo & Company began coverage on shares of Arcus Biosciences in a research note on Tuesday, October 8th. They issued an “overweight” rating and a $29.00 price objective on the stock. Cantor Fitzgerald restated an “overweight” rating on shares of Arcus Biosciences in a research report on Thursday, October 3rd. Barclays raised their price objective on shares of 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 reiterated a “neutral” rating and set a $20.00 target price on shares of Arcus Biosciences in a report on Wednesday. One equities research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $34.13.

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.