Research Analysts Set Expectations for RCUS Q3 Earnings

Arcus Biosciences, Inc. (NYSE:RCUS) – Equities research analysts at HC Wainwright issued their Q3 2024 earnings estimates for Arcus Biosciences in a report released on Monday, October 21st. HC Wainwright analyst E. Bodnar expects that the company will post earnings per share of ($1.05) for the quarter. HC Wainwright has a “Neutral” rating and a $20.00 price target on the stock. The consensus estimate for Arcus Biosciences’ current full-year earnings is ($3.26) per share. HC Wainwright also issued estimates for Arcus Biosciences’ Q4 2024 earnings at ($1.08) EPS, FY2024 earnings at ($3.20) EPS, FY2025 earnings at ($3.31) EPS, FY2026 earnings at ($5.39) EPS, FY2027 earnings at ($5.51) EPS and FY2028 earnings at ($2.52) EPS.

Several other equities research analysts have also recently issued reports on the stock. Barclays dropped their target price on shares of Arcus Biosciences from $35.00 to $25.00 and set an “overweight” rating for the company in a report on Monday, July 8th. Wells Fargo & Company started coverage on shares of Arcus Biosciences in a research note on Tuesday, October 8th. They issued an “overweight” rating and a $29.00 price target on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arcus Biosciences in a research report on Thursday, October 3rd. Wedbush reiterated an “outperform” rating and issued a $30.00 price objective on shares of Arcus Biosciences in a research note on Thursday, October 3rd. Finally, Evercore ISI upgraded shares of Arcus Biosciences to a “strong-buy” rating in a report on Friday, August 9th. One equities research 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 company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $33.22.

Arcus Biosciences Stock Up 3.2 %

Shares of NYSE RCUS opened at $17.35 on Wednesday. The firm has a market cap of $1.59 billion, a price-to-earnings ratio of -5.61 and a beta of 0.88. The company’s 50-day simple moving average is $16.79 and its 200-day simple moving average is $16.03. Arcus Biosciences has a 52-week low of $12.95 and a 52-week high of $20.31.

Arcus Biosciences (NYSE:RCUS) last posted its earnings results on Thursday, August 8th. The company reported ($1.02) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($1.02). Arcus Biosciences had a negative net margin of 100.81% and a negative return on equity of 42.86%. The company had revenue of $39.00 million during the quarter, compared to the consensus estimate of $26.24 million. During the same period in the previous year, the firm posted ($1.04) earnings per share. The firm’s quarterly revenue was up 34.5% on a year-over-year basis.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in Arcus Biosciences by 4.2% during the fourth quarter. Vanguard Group Inc. now owns 4,680,716 shares of the company’s stock valued at $89,402,000 after buying an additional 186,898 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Arcus Biosciences by 51.6% in the first quarter. GAMMA Investing LLC now owns 2,427 shares of the company’s stock worth $46,000 after purchasing an additional 826 shares during the period. Diversified Trust Co bought a new position in Arcus Biosciences in the 1st quarter worth approximately $228,000. Allspring Global Investments Holdings LLC raised its stake in Arcus Biosciences by 9.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 12,940 shares of the company’s stock valued at $244,000 after purchasing an additional 1,090 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Arcus Biosciences by 5.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 32,356 shares of the company’s stock valued at $583,000 after buying an additional 1,702 shares during the period. Institutional investors and hedge funds own 92.89% of the company’s stock.

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.