Arcus Biosciences Inc (NYSE:RCUS) Expected to Post Earnings of -$0.47 Per Share

Equities research analysts forecast that Arcus Biosciences Inc (NYSE:RCUS) will post ($0.47) earnings per share (EPS) for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Arcus Biosciences’ earnings. The lowest EPS estimate is ($0.47) and the highest is ($0.46). Arcus Biosciences posted earnings per share of ($0.25) in the same quarter last year, which suggests a negative year over year growth rate of 88%. The company is expected to issue its next earnings results on Thursday, November 14th.

According to Zacks, analysts expect that Arcus Biosciences will report full-year earnings of ($2.01) per share for the current financial year, with EPS estimates ranging from ($2.02) to ($1.99). For the next year, analysts expect that the firm will report earnings of ($2.22) per share, with EPS estimates ranging from ($2.36) to ($2.08). Zacks’ earnings per share averages are an average based on a survey of sell-side research firms that follow Arcus Biosciences.

Arcus Biosciences (NYSE:RCUS) last released its earnings results on Tuesday, August 6th. The company reported ($0.64) EPS for the quarter, missing the consensus estimate of ($0.40) by ($0.24). Arcus Biosciences had a negative net margin of 736.31% and a negative return on equity of 30.67%. The firm had revenue of $1.75 million during the quarter, compared to the consensus estimate of $4.54 million.

Several equities research analysts recently issued reports on the stock. Zacks Investment Research lowered shares of Arcus Biosciences from a “buy” rating to a “hold” rating in a report on Thursday, August 8th. Citigroup decreased their price target on shares of Arcus Biosciences from $25.00 to $15.00 and set an “in-line” rating on the stock in a report on Wednesday, June 5th. Finally, ValuEngine raised shares of Arcus Biosciences from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Arcus Biosciences presently has an average rating of “Buy” and a consensus price target of $16.56.

RCUS stock traded up $0.01 during mid-day trading on Friday, hitting $7.81. The stock had a trading volume of 532 shares, compared to its average volume of 150,211. Arcus Biosciences has a 52 week low of $6.30 and a 52 week high of $14.83. The firm has a market capitalization of $342.04 million, a P/E ratio of -5.46 and a beta of 0.98. The firm has a fifty day simple moving average of $7.49 and a 200 day simple moving average of $9.61.

In related news, Director Kathryn E. Falberg purchased 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 12th. The shares were bought at an average cost of $8.20 per share, with a total value of $164,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, President Juan C. Jaen purchased 15,000 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The shares were bought at an average cost of $7.59 per share, for a total transaction of $113,850.00. The disclosure for this purchase can be found here. Insiders have purchased a total of 67,065 shares of company stock worth $536,615 over the last ninety days. 19.23% of the stock is currently owned by insiders.

Several institutional investors have recently made changes to their positions in RCUS. EcoR1 Capital LLC grew its holdings in shares of Arcus Biosciences by 50.3% during the 2nd quarter. EcoR1 Capital LLC now owns 1,488,205 shares of the company’s stock valued at $11,787,000 after purchasing an additional 498,059 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Arcus Biosciences by 22.1% during the 2nd quarter. BlackRock Inc. now owns 2,236,133 shares of the company’s stock valued at $17,777,000 after purchasing an additional 404,432 shares during the last quarter. Morgan Stanley grew its holdings in shares of Arcus Biosciences by 879.2% during the 2nd quarter. Morgan Stanley now owns 98,806 shares of the company’s stock valued at $785,000 after purchasing an additional 88,716 shares during the last quarter. Citadel Advisors LLC grew its holdings in shares of Arcus Biosciences by 296.9% during the 2nd quarter. Citadel Advisors LLC now owns 69,537 shares of the company’s stock valued at $553,000 after purchasing an additional 52,018 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of Arcus Biosciences by 5.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 515,262 shares of the company’s stock valued at $3,983,000 after purchasing an additional 26,709 shares during the last quarter. 46.36% of the stock is currently owned by institutional investors.

Arcus Biosciences Company Profile

Arcus Biosciences, Inc, a clinical-stage biopharmaceutical company, engages in developing and commercializing cancer immunotherapies in the United States. The company develops various programs targeting immuno-oncology pathways, including AB928, a dual adenosine receptor antagonist, which is in a Phase I/Ib clinical trial; and AB122, an anti-PD-1 antibody that is in Phase I clinical trial.

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Earnings History and Estimates for Arcus Biosciences (NYSE:RCUS)

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