Q2 2023 EPS Estimates for Arcus Biosciences, Inc. (NYSE:RCUS) Boosted by Analyst

Arcus Biosciences, Inc. (NYSE:RCUS – Get Rating) – Stock analysts at Wedbush upped their Q2 2023 earnings estimates for shares of Arcus Biosciences in a research report issued on Monday, May 15th. Wedbush analyst R. Driscoll now anticipates that the company will earn ($1.12) per share for the quarter, up from their previous forecast of ($1.23). The consensus estimate for Arcus Biosciences’ current full-year earnings is ($4.49) per share. Wedbush also issued estimates for Arcus Biosciences’ Q3 2023 earnings at ($1.15) EPS, Q4 2023 earnings at ($1.17) EPS, FY2023 earnings at ($4.53) EPS, FY2024 earnings at ($4.76) EPS, FY2025 earnings at ($4.96) EPS, FY2026 earnings at ($3.97) EPS and FY2027 earnings at $0.70 EPS.

Other analysts have also recently issued reports about the company. Mizuho reaffirmed a “buy” rating and set a $51.00 price objective on shares of Arcus Biosciences in a report on Friday, March 17th. Citigroup decreased their price objective on Arcus Biosciences from $42.00 to $40.00 in a report on Thursday, March 9th. Finally, TheStreet cut Arcus Biosciences from a “c-” rating to a “d” rating in a report on Tuesday, February 28th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Arcus Biosciences has an average rating of “Moderate Buy” and an average target price of $41.33.

Arcus Biosciences Price Performance

RCUS stock opened at $17.61 on Thursday. Arcus Biosciences has a 1-year low of $15.70 and a 1-year high of $36.13. The company has a market capitalization of $1.29 billion, a price-to-earnings ratio of -4.57 and a beta of 0.88. The business has a 50 day simple moving average of $18.00 and a two-hundred day simple moving average of $21.56.

Arcus Biosciences (NYSE:RCUS – Get Rating) last announced its quarterly earnings data on Tuesday, May 9th. The company reported ($1.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.06) by ($0.03). Arcus Biosciences had a negative net margin of 233.41% and a negative return on equity of 41.22%. The company had revenue of $25.00 million for the quarter, compared to the consensus estimate of $22.47 million. During the same quarter last year, the firm posted ($0.96) earnings per share. The company’s revenue was up 38.9% compared to the same quarter last year.

Institutional Investors Weigh In On Arcus Biosciences

Institutional investors have recently added to or reduced their stakes in the stock. Captrust Financial Advisors boosted its holdings in Arcus Biosciences by 402.9% in the second quarter. Captrust Financial Advisors now owns 2,072 shares of the company’s stock worth $53,000 after acquiring an additional 1,660 shares in the last quarter. Federated Hermes Inc. acquired a new stake in Arcus Biosciences in the third quarter worth about $56,000. State of Wyoming acquired a new stake in Arcus Biosciences in the fourth quarter worth about $48,000. Lazard Asset Management LLC acquired a new stake in Arcus Biosciences in the first quarter worth about $76,000. Finally, Point72 Middle East FZE purchased a new position in shares of Arcus Biosciences in the fourth quarter worth about $58,000. Institutional investors own 72.97% of the company’s stock.

Insider Transactions at Arcus Biosciences

In related news, COO Jennifer Jarrett sold 8,729 shares of the firm’s stock in a transaction dated Thursday, March 16th. The stock was sold at an average price of $16.81, for a total transaction of $146,734.49. Following the sale, the chief operating officer now owns 406,217 shares of the company’s stock, valued at $6,828,507.77. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 13.80% of the company’s stock.

Arcus Biosciences Company Profile

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Arcus Biosciences, Inc engages in the development and commercialization of immunotherapies. It competes in the segments of the pharmaceutical, biotechnology and other related markets that develop immunotherapies for the treatment of cancer. The company was founded by Terry J. Rosen and Juan Carlos Jaen in 2015 and is headquartered in Hayward, CA.