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

Arcus Biosciences (NYSE:RCUS) released its earnings results on Wednesday. The company reported ($1.00) EPS for the quarter, topping the consensus estimate of ($1.06) by $0.06, Briefing.com reports. Arcus Biosciences had a negative net margin of 100.81% and a negative return on equity of 42.86%. The firm had revenue of $48.00 million during the quarter, compared to analysts’ expectations of $38.95 million. During the same period in the previous year, the company earned ($0.94) EPS. Arcus Biosciences’s revenue for the quarter was up 50.0% on a year-over-year basis.

Arcus Biosciences Stock Performance

RCUS traded up $0.43 during trading on Friday, reaching $16.89. The company had a trading volume of 154,045 shares, compared to its average volume of 731,981. The firm’s 50-day simple moving average is $16.59 and its 200 day simple moving average is $16.03. Arcus Biosciences has a 12-month low of $12.95 and a 12-month high of $20.31. The company has a market cap of $1.54 billion, a price-to-earnings ratio of -5.33 and a beta of 0.89.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on RCUS shares. Wedbush reissued an “outperform” rating and set a $36.00 target price on shares of Arcus Biosciences in a research report on Thursday. Wells Fargo & Company started coverage on shares of Arcus Biosciences in a report on Tuesday, October 8th. They set an “overweight” rating and a $29.00 target price on the stock. HC Wainwright reiterated a “neutral” rating and issued a $20.00 price target on shares of Arcus Biosciences in a report on Wednesday. Barclays upped their target price on Arcus Biosciences from $25.00 to $29.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Finally, Evercore ISI upgraded Arcus Biosciences to a “strong-buy” rating in a report on Friday, August 9th. One research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $34.33.

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.