Arcus Biosciences (NYSE:RCUS) Releases Earnings Results, Beats Expectations By $0.14 EPS

Arcus Biosciences (NYSE:RCUS) announced its quarterly earnings data on Tuesday. The company reported ($1.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.17) by $0.14, Zacks reports. Arcus Biosciences had a negative net margin of 102.66% and a negative return on equity of 45.59%.

Arcus Biosciences Trading Up 0.9 %

RCUS opened at $10.26 on Wednesday. Arcus Biosciences has a 52 week low of $10.01 and a 52 week high of $20.31. The company has a quick ratio of 5.24, a current ratio of 5.24 and a debt-to-equity ratio of 0.08. The business has a fifty day simple moving average of $13.67 and a 200-day simple moving average of $15.50. The firm has a market cap of $1.08 billion, a P/E ratio of -3.26 and a beta of 0.84.

Analyst Upgrades and Downgrades

RCUS has been the topic of several recent analyst reports. Wedbush reiterated an “outperform” rating and issued a $36.00 target price on shares of Arcus Biosciences in a report on Thursday, November 7th. HC Wainwright upgraded Arcus Biosciences from a “neutral” rating to a “buy” rating and upped their price objective for the company from $18.00 to $24.00 in a report on Wednesday. Bank of America cut their target price on Arcus Biosciences from $22.00 to $17.00 and set a “neutral” rating for the company in a research note on Wednesday, February 19th. Finally, Morgan Stanley decreased their price target on Arcus Biosciences from $36.00 to $25.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 18th. One investment analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $30.25.

Insider Activity

In other news, CFO Robert C. Goeltz II sold 3,594 shares of the firm’s stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $15.00, for a total value of $53,910.00. Following the completion of the transaction, the chief financial officer now owns 60,138 shares of the company’s stock, valued at approximately $902,070. This trade represents a 5.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 12.30% of the company’s stock.

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.