Zacks: Brokerages Anticipate Arcus Biosciences, Inc. (NYSE:RCUS) Will Post Earnings of $0.83 Per Share

Equities analysts expect Arcus Biosciences, Inc. (NYSE:RCUSGet Rating) to announce $0.83 earnings per share for the current quarter, according to Zacks. Three analysts have made estimates for Arcus Biosciences’ earnings, with the highest EPS estimate coming in at $4.19 and the lowest estimate coming in at ($0.93). Arcus Biosciences reported earnings per share of ($1.08) in the same quarter last year, which indicates a positive year over year growth rate of 176.9%. The business is scheduled to announce its next quarterly earnings results after the market closes on Monday, January 1st.

According to Zacks, analysts expect that Arcus Biosciences will report full-year earnings of ($2.07) per share for the current financial year, with EPS estimates ranging from ($4.22) to $3.39. For the next fiscal year, analysts expect that the company will report earnings of ($4.26) per share, with EPS estimates ranging from ($4.99) to ($3.86). Zacks’ EPS calculations are a mean average based on a survey of research firms 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 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 company had revenue of $354.50 million for the quarter, compared to the consensus estimate of $8.87 million.

Several research firms have commented on RCUS. Zacks Investment Research lowered Arcus Biosciences from a “hold” rating to a “sell” rating in a research report on Tuesday, March 1st. Truist Financial raised their price target on shares of Arcus Biosciences from $70.00 to $77.00 in a research report on Friday, February 25th. The Goldman Sachs Group cut their price target on Arcus Biosciences from $45.00 to $43.00 in a research note on Thursday, January 13th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Arcus Biosciences in a research report on Friday, April 1st. Finally, TheStreet upgraded Arcus Biosciences from a “d” rating to a “c” rating in a research report on Monday, March 21st. One research analyst has rated the stock with a sell rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $64.43.

In other news, COO Jennifer Jarrett sold 9,617 shares of the company’s stock in a transaction that occurred on Wednesday, March 16th. The stock was sold at an average price of $31.62, for a total value of $304,089.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 19.71% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. Royal Bank of Canada increased its holdings in Arcus Biosciences by 217.2% in the 2nd quarter. Royal Bank of Canada now owns 3,102 shares of the company’s stock valued at $85,000 after purchasing an additional 2,124 shares during the last quarter. Bank of America Corp DE boosted its position in shares of Arcus Biosciences by 14.9% during the second quarter. Bank of America Corp DE now owns 36,787 shares of the company’s stock worth $1,010,000 after buying an additional 4,770 shares during the period. Morgan Stanley grew its stake in shares of Arcus Biosciences by 54.3% in the second quarter. Morgan Stanley now owns 269,458 shares of the company’s stock valued at $7,399,000 after buying an additional 94,862 shares in the last quarter. Amalgamated Bank purchased a new stake in shares of Arcus Biosciences in the 3rd quarter valued at $207,000. Finally, SG Americas Securities LLC acquired a new position in Arcus Biosciences during the 3rd quarter worth about $945,000. Hedge funds and other institutional investors own 63.67% of the company’s stock.

Shares of RCUS stock opened at $24.21 on Friday. The stock has a 50 day moving average of $32.76 and a 200 day moving average of $35.69. The stock has a market cap of $1.74 billion, a P/E ratio of 56.30 and a beta of 0.85. Arcus Biosciences has a twelve month low of $22.36 and a twelve month high of $49.10.

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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