Arcus Biosciences, Inc. (NYSE:RCUS) Expected to Announce Earnings of -$0.93 Per Share

Brokerages expect that Arcus Biosciences, Inc. (NYSE:RCUSGet Rating) will report earnings per share (EPS) of ($0.93) for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Arcus Biosciences’ earnings, with the lowest EPS estimate coming in at ($0.94) and the highest estimate coming in at ($0.93). Arcus Biosciences reported earnings per share of ($1.09) in the same quarter last year, which would suggest a positive year-over-year growth rate of 14.7%. The business is expected to report its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that Arcus Biosciences will report full year earnings of ($4.03) per share for the current fiscal year, with EPS estimates ranging from ($4.24) to ($3.88). For the next year, analysts anticipate that the business will post earnings of ($4.71) per share, with EPS estimates ranging from ($5.25) to ($4.15). Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research firms that that provide coverage for Arcus Biosciences.

Arcus Biosciences (NYSE:RCUSGet Rating) last issued its earnings results on Monday, May 9th. The company reported ($0.96) EPS for the quarter, missing analysts’ consensus estimates of $0.83 by ($1.79). Arcus Biosciences had a net margin of 14.67% and a return on equity of 8.25%. During the same period in the previous year, the business posted ($1.08) earnings per share.

RCUS has been the topic of a number of recent analyst reports. TheStreet upgraded Arcus Biosciences from a “d” rating to a “c” rating in a research report on Monday, March 21st. Cantor Fitzgerald reissued an “overweight” rating on shares of Arcus Biosciences in a research note on Friday, April 1st. Wedbush reduced their price objective on Arcus Biosciences from $67.00 to $42.00 in a research note on Wednesday, May 11th. Truist Financial raised their target price on Arcus Biosciences from $70.00 to $77.00 in a research note on Friday, February 25th. Finally, Zacks Investment Research downgraded Arcus Biosciences from a “hold” rating to a “sell” rating in a research note on Tuesday, March 1st. One analyst has rated the stock with a sell rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $60.86.

Shares of NYSE:RCUS traded up $0.43 during midday trading on Friday, reaching $18.38. 29,933 shares of the company’s stock traded hands, compared to its average volume of 1,083,760. Arcus Biosciences has a 1 year low of $16.74 and a 1 year high of $49.10. The company has a market cap of $1.32 billion, a P/E ratio of 32.64 and a beta of 1.00. The company has a fifty day simple moving average of $28.29 and a two-hundred day simple moving average of $34.07.

In other news, COO Jennifer Jarrett sold 9,617 shares of the company’s stock in a transaction dated Wednesday, March 16th. The stock was sold at an average price of $31.62, for a total value of $304,089.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 19.71% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of RCUS. Schonfeld Strategic Advisors LLC lifted its holdings in Arcus Biosciences by 2.0% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 24,900 shares of the company’s stock worth $1,008,000 after buying an additional 500 shares during the last quarter. Teacher Retirement System of Texas raised its position in shares of Arcus Biosciences by 8.0% during the 1st quarter. Teacher Retirement System of Texas now owns 7,938 shares of the company’s stock worth $251,000 after purchasing an additional 590 shares during the period. Diversified Trust Co increased its position in Arcus Biosciences by 7.1% in the 4th quarter. Diversified Trust Co now owns 9,027 shares of the company’s stock valued at $365,000 after acquiring an additional 599 shares during the period. Swiss National Bank increased its position in Arcus Biosciences by 0.7% in the 4th quarter. Swiss National Bank now owns 86,496 shares of the company’s stock valued at $3,500,000 after acquiring an additional 600 shares during the period. Finally, Credit Suisse AG boosted its stake in Arcus Biosciences by 2.2% during the 4th quarter. Credit Suisse AG now owns 33,784 shares of the company’s stock valued at $1,367,000 after purchasing an additional 729 shares in the last quarter. 73.54% of the stock is owned by hedge funds and other institutional investors.

About Arcus Biosciences (Get Rating)

Arcus Biosciences, Inc, a clinical-stage biopharmaceutical company, develops and commercializes cancer therapies in the United States. Its product pipeline includes, Etrumadenant, a dual A2a/A2b adenosine receptor antagonist, which is in a Phase 1b/2 clinical trial; and Zimberelimab, an anti-PD-1 antibody that is in Phase 1b clinical trial for monotherapy.

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

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