Arcus Biosciences (NYSE:RCUS) Announces Earnings Results, Beats Estimates By $0.07 EPS

Arcus Biosciences (NYSE:RCUS) issued its earnings results on Wednesday. The company reported ($1.00) EPS for the quarter, beating the consensus estimate of ($1.07) by $0.07, Briefing.com reports. The firm had revenue of $48.00 million during the quarter, compared to the consensus estimate of $38.95 million. Arcus Biosciences had a negative net margin of 100.81% and a negative return on equity of 42.86%. The business’s quarterly revenue was up 50.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.94) earnings per share.

Arcus Biosciences Stock Up 3.7 %

Shares of NYSE RCUS traded up $0.58 during trading hours on Thursday, hitting $16.31. The company had a trading volume of 1,973,625 shares, compared to its average volume of 732,242. Arcus Biosciences has a 1-year low of $12.95 and a 1-year high of $20.31. The firm’s 50 day moving average is $16.61 and its 200-day moving average is $16.03. The stock has a market capitalization of $1.49 billion, a P/E ratio of -5.09 and a beta of 0.89.

Analysts Set New Price Targets

A number of research firms have issued reports on RCUS. HC Wainwright reissued a “neutral” rating and issued a $20.00 target price on shares of Arcus Biosciences in a research note on Wednesday. Barclays raised their target price on shares of Arcus Biosciences from $25.00 to $29.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Evercore ISI upgraded shares of Arcus Biosciences to a “strong-buy” rating in a report on Friday, August 9th. Wedbush reaffirmed an “outperform” rating and issued a $30.00 target price on shares of Arcus Biosciences in a research note on Thursday, October 3rd. Finally, Wells Fargo & Company started coverage on Arcus Biosciences in a report on Tuesday, October 8th. They issued an “overweight” rating and a $29.00 price target on the stock. One 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 company. According to data from MarketBeat.com, Arcus Biosciences has a consensus rating of “Buy” and a consensus price target of $33.67.

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.