Brokerages Anticipate Arcus Biosciences, Inc. (NYSE:RCUS) Will Announce Quarterly Sales of $163.47 Million

Wall Street analysts expect Arcus Biosciences, Inc. (NYSE:RCUSGet Rating) to post $163.47 million in sales for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Arcus Biosciences’ earnings. The highest sales estimate is $444.90 million and the lowest is $22.50 million. Arcus Biosciences reported sales of $9.46 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 1,628%. The company is expected to issue its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that Arcus Biosciences will report full year sales of $271.83 million for the current financial year, with estimates ranging from $90.00 million to $635.50 million. For the next financial year, analysts anticipate that the firm will post sales of $94.00 million, with estimates ranging from $84.00 million to $108.00 million. Zacks’ sales averages are a mean average based on a survey of research analysts that cover Arcus Biosciences.

Arcus Biosciences (NYSE:RCUSGet Rating) last announced its quarterly earnings results on Wednesday, February 23rd. The company reported $3.71 earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.13) by $4.84. Arcus Biosciences had a return on equity of 7.96% and a net margin of 13.80%. The business had revenue of $354.50 million for the quarter, compared to the consensus estimate of $8.87 million.

A number of analysts recently weighed in on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arcus Biosciences in a report on Friday, April 1st. Zacks Investment Research cut Arcus Biosciences from a “hold” rating to a “sell” rating in a report on Tuesday, March 1st. SVB Leerink reissued an “outperform” rating on shares of Arcus Biosciences in a report on Friday, January 7th. Truist Financial raised their target price on Arcus Biosciences from $70.00 to $77.00 in a research report on Friday, February 25th. Finally, The Goldman Sachs Group reduced their price target on Arcus Biosciences from $45.00 to $43.00 in a research report on Thursday, January 13th. One equities research analyst has rated the stock with a sell rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Arcus Biosciences has a consensus rating of “Buy” and an average target price of $64.43.

In other Arcus Biosciences news, COO Jennifer Jarrett sold 9,617 shares of the business’s stock in a transaction dated Wednesday, March 16th. The shares were sold at an average price of $31.62, for a total value of $304,089.54. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 12.30% of the stock is currently owned by company insiders.

A number of institutional investors have recently bought and sold shares of the business. Invesco Ltd. raised its holdings in Arcus Biosciences by 2.9% during the 3rd quarter. Invesco Ltd. now owns 224,684 shares of the company’s stock worth $7,834,000 after buying an additional 6,331 shares during the period. Franklin Resources Inc. raised its holdings in shares of Arcus Biosciences by 66.4% during the third quarter. Franklin Resources Inc. now owns 1,457,349 shares of the company’s stock valued at $50,818,000 after acquiring an additional 581,311 shares during the period. Granahan Investment Management Inc. MA acquired a new stake in shares of Arcus Biosciences during the third quarter valued at approximately $3,656,000. Credit Suisse AG lifted its position in shares of Arcus Biosciences by 8.1% in the 3rd quarter. Credit Suisse AG now owns 33,055 shares of the company’s stock valued at $1,152,000 after acquiring an additional 2,487 shares in the last quarter. Finally, Sectoral Asset Management Inc boosted its stake in Arcus Biosciences by 9.6% in the 3rd quarter. Sectoral Asset Management Inc now owns 739,010 shares of the company’s stock worth $25,769,000 after purchasing an additional 64,750 shares during the period. Hedge funds and other institutional investors own 63.67% of the company’s stock.

RCUS stock traded up $1.60 during mid-day trading on Friday, reaching $32.35. The company had a trading volume of 3,063 shares, compared to its average volume of 986,762. Arcus Biosciences has a one year low of $22.36 and a one year high of $49.10. The stock has a market capitalization of $2.30 billion, a P/E ratio of 71.51 and a beta of 0.85. The stock’s 50-day simple moving average is $33.09 and its two-hundred day simple moving average is $36.15.

Arcus Biosciences Company Profile (Get Rating)

Arcus Biosciences, Inc, a clinical-stage biopharmaceutical company, develops and commercializes cancer therapies in the United States. Its product pipeline includes, Etrumadenant, a dual A2a/A2b adenosine receptor antagonist, which is in a Phase 1b/2 clinical trial; and Zimberelimab, an anti-PD-1 antibody that is in Phase 1b clinical trial for monotherapy.

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