Arcus Biosciences (NYSE:RCUS) Issues Quarterly Earnings Results, Beats Estimates By $0.14 EPS

Arcus Biosciences (NYSE:RCUS) announced its quarterly earnings data on Tuesday. The company reported ($1.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.17) by $0.14, Zacks reports. Arcus Biosciences had a negative net margin of 102.66% and a negative return on equity of 45.59%.

Arcus Biosciences Trading Up 0.9 %

Shares of RCUS traded up $0.10 during trading hours on Tuesday, hitting $10.26. The stock had a trading volume of 1,159,691 shares, compared to its average volume of 910,925. The firm has a market cap of $1.08 billion, a P/E ratio of -3.26 and a beta of 0.84. Arcus Biosciences has a 12-month low of $10.01 and a 12-month high of $20.31. The company’s fifty day simple moving average is $13.79 and its 200 day simple moving average is $15.54. The company has a debt-to-equity ratio of 0.08, a quick ratio of 5.24 and a current ratio of 5.24.

Insider Activity

In other Arcus Biosciences news, CFO Robert C. Goeltz II sold 3,594 shares of the business’s stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $15.00, for a total transaction of $53,910.00. Following the sale, the chief financial officer now directly owns 60,138 shares in the company, valued at approximately $902,070. The trade was a 5.64 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 12.30% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on RCUS. Bank of America dropped their target price on shares of Arcus Biosciences from $22.00 to $17.00 and set a “neutral” rating on the stock in a report on Wednesday, February 19th. Morgan Stanley lowered their target price on shares of Arcus Biosciences from $36.00 to $25.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 18th. Wedbush reaffirmed an “outperform” rating and set a $36.00 price target on shares of Arcus Biosciences in a research note on Thursday, November 7th. Finally, HC Wainwright reduced their target price on shares of Arcus Biosciences from $20.00 to $18.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 18th. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Arcus Biosciences currently has an average rating of “Moderate Buy” and a consensus price target of $29.50.

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.