Arcus Biosciences (NYSE:RCUS) Posts Quarterly Earnings Results, Beats Expectations By $0.07 EPS

Arcus Biosciences (NYSE:RCUS) posted its earnings results on Wednesday. The company reported ($1.00) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.07) by $0.07, Briefing.com reports. The company had revenue of $48.00 million for the quarter, compared to analyst estimates of $38.95 million. Arcus Biosciences had a negative net margin of 100.81% and a negative return on equity of 42.86%. The firm’s revenue was up 50.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.94) EPS.

Arcus Biosciences Price Performance

NYSE RCUS traded up $0.80 during trading hours on Thursday, hitting $16.53. The company’s stock had a trading volume of 2,170,755 shares, compared to its average volume of 733,028. The company has a market cap of $1.51 billion, a P/E ratio of -5.09 and a beta of 0.89. The company’s 50 day simple moving average is $16.61 and its two-hundred day simple moving average is $16.03. Arcus Biosciences has a 12 month low of $12.95 and a 12 month high of $20.31.

Analyst Ratings Changes

RCUS has been the subject of several recent research reports. HC Wainwright reiterated a “neutral” rating and set a $20.00 price target on shares of Arcus Biosciences in a report on Wednesday. Wells Fargo & Company began coverage on shares of Arcus Biosciences in a report on Tuesday, October 8th. They issued an “overweight” rating and a $29.00 target price for the company. Evercore ISI raised Arcus Biosciences to a “strong-buy” rating in a report on Friday, August 9th. Wedbush reissued an “outperform” rating and issued a $30.00 price objective on shares of Arcus Biosciences in a report on Thursday, October 3rd. Finally, Barclays boosted their target price on Arcus Biosciences from $25.00 to $29.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. One analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $33.67.

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.