Arcus Biosciences (NYSE:RCUS) Releases Earnings Results, Beats Estimates By $0.14 EPS

Arcus Biosciences (NYSE:RCUS - Get Free Report) announced its quarterly earnings results on Tuesday. The company reported ($1.03) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.17) by $0.14, Zacks reports. Arcus Biosciences had a negative return on equity of 45.59% and a negative net margin of 102.66%. The company had revenue of $36.00 million during the quarter, compared to analyst estimates of $29.38 million.

Arcus Biosciences Trading Up 10.2 %

Shares of Arcus Biosciences stock traded up $1.01 on Friday, reaching $10.89. 1,786,269 shares of the company were exchanged, compared to its average volume of 958,588. The stock has a fifty day moving average price of $13.37 and a 200-day moving average price of $15.40. The firm has a market capitalization of $1.14 billion, a price-to-earnings ratio of -3.46 and a beta of 0.84. The company has a current ratio of 5.24, a quick ratio of 5.24 and a debt-to-equity ratio of 0.08. Arcus Biosciences has a fifty-two week low of $9.85 and a fifty-two week high of $20.00.

Wall Street Analysts Forecast Growth

RCUS has been the subject of a number of analyst reports. Wedbush reiterated an "outperform" rating and set a $36.00 price target on shares of Arcus Biosciences in a research report on Thursday, November 7th. HC Wainwright upgraded Arcus Biosciences from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $18.00 to $24.00 in a research report on Wednesday. Morgan Stanley dropped their price objective on Arcus Biosciences from $36.00 to $25.00 and set an "overweight" rating on the stock in a research note on Tuesday, February 18th. Finally, Bank of America dropped their price objective on Arcus Biosciences from $22.00 to $17.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 19th. 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 company. According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $30.25.

Insider Transactions at Arcus Biosciences

In related news, Director Yasunori Kaneko bought 20,000 shares of the business's stock in a transaction dated Thursday, February 27th. The shares were bought at an average cost of $10.06 per share, with a total value of $201,200.00. Following the completion of the transaction, the director now directly owns 28,400 shares of the company's stock, valued at approximately $285,704. This trade represents a 238.10 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Robert C. Goeltz II sold 3,594 shares of Arcus Biosciences stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $15.00, for a total value of $53,910.00. Following the transaction, the chief financial officer now owns 60,138 shares in the company, valued at $902,070. This represents a 5.64 % decrease in their position. The disclosure for this sale can be found here. 12.30% of the stock is owned by insiders.

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.