Arcus Biosciences (NYSE:RCUS) Releases Earnings Results, Beats Estimates By $0.06 EPS

Arcus Biosciences (NYSE:RCUS) released its quarterly earnings data on Wednesday. The company reported ($1.00) EPS for the quarter, beating the consensus estimate of ($1.06) by $0.06, Briefing.com reports. The business had revenue of $48.00 million during the quarter, compared to analyst estimates of $38.95 million. Arcus Biosciences had a negative net margin of 100.81% and a negative return on equity of 42.86%. Arcus Biosciences’s quarterly revenue was up 50.0% compared to the same quarter last year. During the same quarter last year, the business earned ($0.94) earnings per share.

Arcus Biosciences Price Performance

Shares of Arcus Biosciences stock traded up $0.43 on Friday, reaching $16.89. 154,045 shares of the company were exchanged, compared to its average volume of 731,981. The stock’s 50 day moving average price is $16.59 and its 200-day moving average price is $16.03. The company has a market cap of $1.54 billion, a P/E ratio of -5.33 and a beta of 0.89. Arcus Biosciences has a 1-year low of $12.95 and a 1-year high of $20.31.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Wedbush restated an “outperform” rating and set a $36.00 price objective on shares of Arcus Biosciences in a research report on Thursday. Barclays boosted their price objective on shares of Arcus Biosciences from $25.00 to $29.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Evercore ISI raised shares of Arcus Biosciences to a “strong-buy” rating in a research note on Friday, August 9th. Wells Fargo & Company initiated coverage on shares of Arcus Biosciences in a research note on Tuesday, October 8th. They issued an “overweight” rating and a $29.00 price objective for the company. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arcus Biosciences in a research note on Thursday, October 3rd. One 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 stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $34.33.

About Arcus Biosciences

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.