Arcus Biosciences (NYSE:RCUS) Announces Quarterly Earnings Results

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

Arcus Biosciences Stock Down 0.8 %

RCUS opened at $10.16 on Thursday. The firm’s 50-day simple moving average is $13.57 and its 200-day simple moving average is $15.46. The company has a debt-to-equity ratio of 0.08, a quick ratio of 5.24 and a current ratio of 5.24. Arcus Biosciences has a twelve month low of $9.92 and a twelve month high of $20.31. The firm has a market cap of $1.07 billion, a price-to-earnings ratio of -3.22 and a beta of 0.84.

Insider Transactions at Arcus Biosciences

In related news, CFO Robert C. Goeltz II sold 3,594 shares of the company’s stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $15.00, for a total transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 12.30% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have issued reports on RCUS. Morgan Stanley lowered their price target on shares of Arcus Biosciences from $36.00 to $25.00 and set an “overweight” rating on the stock in a report on Tuesday, February 18th. Wedbush reissued an “outperform” rating and issued a $36.00 price target on shares of Arcus Biosciences in a report on Thursday, November 7th. HC Wainwright raised shares of Arcus Biosciences from a “neutral” rating to a “buy” rating and boosted their price target for the company from $18.00 to $24.00 in a report on Wednesday. Finally, Bank of America lowered their price target on shares of Arcus Biosciences from $22.00 to $17.00 and set a “neutral” rating on the stock in a report on Wednesday, February 19th. One equities research 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $30.25.

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.