Research Analysts Issue Forecasts for RCUS Q3 Earnings

Arcus Biosciences, Inc. (NYSE:RCUS - Free Report) - Research analysts at HC Wainwright issued their Q3 2024 EPS estimates for shares of Arcus Biosciences in a research note issued on Monday, October 21st. HC Wainwright analyst E. Bodnar anticipates that the company will earn ($1.05) per share for the quarter. HC Wainwright currently has a "Neutral" rating and a $20.00 target price 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.

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

Other research analysts have also recently issued reports about the company. Cantor Fitzgerald reissued an "overweight" rating on shares of Arcus Biosciences in a research note on Thursday, October 3rd. Barclays lowered their price target 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. Evercore ISI upgraded shares of Arcus Biosciences to a "strong-buy" rating in a report on Friday, August 9th. Wells Fargo & Company assumed coverage on shares of Arcus Biosciences in a research note on Tuesday, October 8th. They set an "overweight" rating and a $29.00 target price for the company. Finally, Wedbush restated an "outperform" rating and issued a $30.00 price target on shares of Arcus Biosciences in a research note on Thursday, October 3rd. One investment 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 company. According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $33.22.

Arcus Biosciences Trading Up 3.2 %

RCUS traded up $0.54 during trading hours on Wednesday, hitting $17.35. 1,442,678 shares of the company's stock were exchanged, compared to its average volume of 721,599. Arcus Biosciences has a 12-month low of $12.95 and a 12-month high of $20.31. The firm has a market cap of $1.59 billion, a P/E ratio of -5.44 and a beta of 0.88. The firm has a 50 day moving average of $16.79 and a 200 day moving average of $16.03.

Institutional Investors Weigh In On Arcus Biosciences

A number of institutional investors and hedge funds have recently made changes to their positions in RCUS. GAMMA Investing LLC increased its stake in shares of Arcus Biosciences by 51.6% during the first quarter. GAMMA Investing LLC now owns 2,427 shares of the company's stock worth $46,000 after acquiring an additional 826 shares during the period. Headlands Technologies LLC purchased a new position in shares of Arcus Biosciences during the 1st quarter worth approximately $59,000. Innealta Capital LLC acquired a new stake in shares of Arcus Biosciences in the 2nd quarter valued at approximately $66,000. Point72 DIFC Ltd purchased a new stake in shares of Arcus Biosciences in the second quarter valued at approximately $83,000. Finally, ProShare Advisors LLC grew its holdings in Arcus Biosciences by 7.4% during the first quarter. ProShare Advisors LLC now owns 10,846 shares of the company's stock worth $205,000 after acquiring an additional 746 shares during the period. 92.89% of the stock is owned by hedge funds and other institutional investors.

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.