FY2029 EPS Estimate for Arcus Biosciences Lowered by Analyst

Arcus Biosciences, Inc. (NYSE:RCUS) – HC Wainwright lowered their FY2029 earnings estimates for Arcus Biosciences in a report issued on Monday, July 20th. HC Wainwright analyst E. Bodnar now forecasts that the company will earn ($1.04) per share for the year, down from their previous estimate of ($0.81). HC Wainwright currently has a “Buy” rating and a $45.00 target price on the stock. The consensus estimate for Arcus Biosciences’ current full-year earnings is ($3.66) per share. HC Wainwright also issued estimates for Arcus Biosciences’ FY2030 earnings at ($0.25) EPS.

Arcus Biosciences (NYSE:RCUS) last announced its quarterly earnings data on Tuesday, May 5th. The company reported ($1.02) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.92) by ($0.10). The business had revenue of $17.00 million during the quarter, compared to analyst estimates of $29.48 million. Arcus Biosciences had a negative net margin of 156.36% and a negative return on equity of 68.97%. The company’s revenue for the quarter was down 39.3% on a year-over-year basis. During the same quarter last year, the firm posted ($1.14) EPS.

A number of other research analysts also recently issued reports on RCUS. Morgan Stanley lifted their price target on shares of Arcus Biosciences from $20.00 to $22.00 and gave the stock an “equal weight” rating in a research note on Monday, May 11th. Lifesci Capital initiated coverage on Arcus Biosciences in a report on Thursday, June 4th. They issued an “outperform” rating and a $46.00 price objective on the stock. Wall Street Zen lowered Arcus Biosciences from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Weiss Ratings restated a “sell (d-)” rating on shares of Arcus Biosciences in a research note on Friday, July 17th. Finally, Leerink Partners set a $47.00 price target on Arcus Biosciences in a report on Monday, April 20th. Eight equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $36.40.

Arcus Biosciences Trading Up 1.4%

NYSE:RCUS opened at $29.88 on Wednesday. The company has a current ratio of 4.04, a quick ratio of 4.04 and a debt-to-equity ratio of 0.19. The firm has a market cap of $3.76 billion, a PE ratio of -9.40 and a beta of 0.80. The stock has a fifty day moving average price of $26.40 and a 200 day moving average price of $23.77. Arcus Biosciences has a 12-month low of $8.84 and a 12-month high of $31.74.

Insider Buying and Selling at Arcus Biosciences

In other news, CFO Robert C. Goeltz II sold 7,763 shares of the company’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $25.63, for a total value of $198,965.69. Following the completion of the sale, the chief financial officer directly owned 84,161 shares of the company’s stock, valued at approximately $2,157,046.43. This represents a 8.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Juan C. Jaen sold 48,502 shares of the stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of $30.05, for a total transaction of $1,457,485.10. Following the sale, the president owned 842,307 shares of the company’s stock, valued at $25,311,325.35. This trade represents a 5.44% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 110,325 shares of company stock worth $3,174,319. 7.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Arcus Biosciences

Several large investors have recently modified their holdings of the stock. Wellington Management Group LLP lifted its stake in shares of Arcus Biosciences by 309.4% in the 4th quarter. Wellington Management Group LLP now owns 5,184,509 shares of the company’s stock worth $123,547,000 after acquiring an additional 3,918,220 shares during the period. Marshall Wace LLP purchased a new stake in shares of Arcus Biosciences during the 4th quarter worth approximately $80,731,000. Suvretta Capital Management LLC boosted its position in Arcus Biosciences by 40.7% during the fourth quarter. Suvretta Capital Management LLC now owns 5,188,858 shares of the company’s stock worth $123,650,000 after purchasing an additional 1,500,000 shares in the last quarter. Toronto Dominion Bank acquired a new position in shares of Arcus Biosciences during the 4th quarter worth $35,380,000. Finally, Vanguard Group Inc. raised its stake in shares of Arcus Biosciences by 20.1% during the 4th quarter. Vanguard Group Inc. now owns 7,962,874 shares of the company’s stock worth $189,755,000 after buying an additional 1,333,421 shares during the last quarter. Hedge funds and other institutional investors own 92.89% of the company’s stock.

About Arcus Biosciences

Arcus Biosciences is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of novel cancer immunotherapies. The company’s research platform centers on modulating tumor microenvironments and immune checkpoints through both small-molecule and antibody-based candidates. Arcus aims to enhance antitumor immune responses by targeting pathways such as the adenosine axis and inhibitory receptors on immune cells.

The company’s lead clinical programs include etrumadenant, an orally administered A2A adenosine receptor antagonist being evaluated in combination with anti-PD-1 therapy, and domvanalimab, an anti-TIGIT monoclonal antibody.