Arcus Biosciences (NYSE:RCUS) Releases Earnings Results, Beats Expectations By $0.14 EPS

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

Arcus Biosciences Stock Performance

Shares of NYSE:RCUS traded up $0.10 during trading on Tuesday, reaching $10.26. 1,159,691 shares of the stock were exchanged, compared to its average volume of 910,925. Arcus Biosciences has a 12 month low of $10.01 and a 12 month high of $20.31. The firm has a market cap of $1.08 billion, a PE ratio of -3.26 and a beta of 0.84. The stock has a 50-day moving average price of $13.79 and a 200-day moving average price of $15.54. The company has a current ratio of 5.24, a quick ratio of 5.24 and a debt-to-equity ratio of 0.08.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on RCUS. HC Wainwright cut their price target on shares of Arcus Biosciences from $20.00 to $18.00 and set a “neutral” rating for the company in a report on Tuesday, February 18th. Bank of America cut their price objective on Arcus Biosciences from $22.00 to $17.00 and set a “neutral” rating on the stock in a report on Wednesday, February 19th. 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, Morgan Stanley reduced their price target on shares of Arcus Biosciences from $36.00 to $25.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 18th. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $29.50.

Insider Buying and Selling at Arcus Biosciences

In related news, CFO Robert C. Goeltz II sold 3,594 shares of the business’s stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $15.00, for a total value of $53,910.00. Following the transaction, the chief financial officer now owns 60,138 shares in the company, valued at $902,070. The trade was a 5.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 12.30% of the company’s stock.

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.