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

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

Arcus Biosciences Stock Up 4.7 %

NYSE:RCUS traded up $0.74 on Thursday, hitting $16.47. The stock had a trading volume of 2,495,273 shares, compared to its average volume of 734,657. The stock has a market cap of $1.51 billion, a price-to-earnings ratio of -5.09 and a beta of 0.89. The business’s 50-day simple moving average is $16.61 and its two-hundred 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.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on RCUS shares. Barclays lifted their price objective on Arcus Biosciences from $25.00 to $29.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Wedbush reissued an “outperform” rating and issued a $30.00 price objective on shares of Arcus Biosciences in a report on Thursday, October 3rd. Evercore ISI raised Arcus Biosciences to a “strong-buy” rating in a report on Friday, August 9th. Wells Fargo & Company assumed coverage on Arcus Biosciences in a report on Tuesday, October 8th. They issued an “overweight” rating and a $29.00 price objective for the company. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arcus Biosciences in a report on Thursday, October 3rd. One investment analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $33.67.

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.