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

Arcus Biosciences (NYSE:RCUS) announced 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. Arcus Biosciences had a negative net margin of 102.66% and a negative return on equity of 44.90%. The firm had revenue of $48.00 million during the quarter, compared to analysts’ expectations of $38.95 million. During the same quarter last year, the business earned ($0.94) earnings per share. The business’s revenue for the quarter was up 50.0% compared to the same quarter last year.

Arcus Biosciences Trading Up 8.4 %

Shares of NYSE RCUS traded up $1.39 during midday trading on Friday, reaching $17.85. 1,113,558 shares of the stock were exchanged, compared to its average volume of 736,403. The company has a market capitalization of $1.63 billion, a P/E ratio of -5.67 and a beta of 0.89. Arcus Biosciences has a 52-week low of $12.95 and a 52-week high of $20.31. The stock has a 50 day moving average price of $16.61 and a 200-day moving average price of $16.06.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on RCUS. Evercore ISI upgraded shares of Arcus Biosciences to a “strong-buy” rating in a research note on Friday, August 9th. Wedbush reiterated an “outperform” rating and issued a $36.00 price objective on shares of Arcus Biosciences in a research note on Thursday. Barclays raised their price objective on shares of Arcus Biosciences from $25.00 to $29.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Wells Fargo & Company assumed coverage on shares of Arcus Biosciences in a report on Tuesday, October 8th. They set an “overweight” rating and a $29.00 target price for the company. Finally, HC Wainwright restated a “neutral” rating and set a $20.00 target price on shares of Arcus Biosciences in a report on Wednesday. One analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Arcus Biosciences currently has a consensus rating of “Buy” and an average target price of $34.13.

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.