Arcus Biosciences (NYSE:RCUS) Announces Earnings Results, Beats Expectations By $0.06 EPS

Arcus Biosciences (NYSE:RCUS) released its earnings results on Wednesday. The company reported ($1.00) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.06) by $0.06, Briefing.com reports. Arcus Biosciences had a negative net margin of 102.66% and a negative return on equity of 44.90%. The firm had revenue of $48.00 million during the quarter, compared to the consensus estimate of $38.95 million. During the same period in the previous year, the firm earned ($0.94) earnings per share. Arcus Biosciences’s revenue was up 50.0% compared to the same quarter last year.

Arcus Biosciences Stock Up 8.4 %

Shares of NYSE RCUS traded up $1.39 during trading on Friday, reaching $17.85. 1,113,558 shares of the stock were exchanged, compared to its average volume of 736,403. The business’s 50-day moving average price is $16.61 and its 200 day moving average price is $16.06. Arcus Biosciences has a twelve month low of $12.95 and a twelve month high of $20.31. The company has a market capitalization of $1.63 billion, a price-to-earnings ratio of -5.67 and a beta of 0.89.

Analyst Upgrades and Downgrades

RCUS has been the subject of a number of recent analyst reports. HC Wainwright restated a “neutral” rating and issued a $20.00 target price on shares of Arcus Biosciences in a report on Wednesday. Barclays boosted their target price on shares of Arcus Biosciences from $25.00 to $29.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Wedbush reaffirmed an “outperform” rating and set a $36.00 price target on shares of Arcus Biosciences in a research report on Thursday. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arcus Biosciences in a research report on Thursday, October 3rd. Finally, Wells Fargo & Company started coverage on shares of Arcus Biosciences in a research report on Tuesday, October 8th. They set an “overweight” rating and a $29.00 price target on the stock. One research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Arcus Biosciences currently has an average rating of “Buy” and an average target price 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.