-$0.47 EPS Expected for Arcus Biosciences Inc (NYSE:RCUS) This Quarter

Brokerages forecast that Arcus Biosciences Inc (NYSE:RCUS) will post ($0.47) earnings per share for the current quarter, Zacks reports. Two analysts have issued estimates for Arcus Biosciences’ earnings. The highest EPS estimate is ($0.46) and the lowest is ($0.47). Arcus Biosciences posted earnings of ($0.25) per share during the same quarter last year, which indicates a negative year-over-year growth rate of 88%. The company is scheduled to issue its next quarterly earnings report on Thursday, November 14th.

On average, analysts expect that Arcus Biosciences will report full-year earnings of ($2.01) per share for the current fiscal year, with EPS estimates ranging from ($2.02) to ($1.99). For the next year, analysts forecast that the company will post earnings of ($2.22) per share, with EPS estimates ranging from ($2.36) to ($2.08). Zacks’ earnings per share calculations are a mean average based on a survey of sell-side analysts that cover Arcus Biosciences.

Arcus Biosciences (NYSE:RCUS) last posted its earnings results on Tuesday, August 6th. The company reported ($0.64) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.40) by ($0.24). The firm had revenue of $1.75 million for the quarter, compared to analysts’ expectations of $4.54 million. Arcus Biosciences had a negative return on equity of 30.67% and a negative net margin of 736.31%.

Several analysts have recently issued reports on RCUS shares. Svb Leerink restated an “outperform” rating on shares of Arcus Biosciences in a research report on Friday, May 3rd. Citigroup reduced their price objective on Arcus Biosciences from $25.00 to $15.00 and set an “in-line” rating on the stock in a research report on Wednesday, June 5th. ValuEngine upgraded Arcus Biosciences from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Finally, Zacks Investment Research downgraded Arcus Biosciences from a “buy” rating to a “hold” rating in a research report on Thursday, August 8th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Arcus Biosciences presently has a consensus rating of “Buy” and an average price target of $16.56.

RCUS opened at $7.44 on Friday. The business’s fifty day moving average price is $8.00. The stock has a market capitalization of $333.78 million, a P/E ratio of -5.20 and a beta of 1.02. Arcus Biosciences has a one year low of $6.30 and a one year high of $16.06.

In other Arcus Biosciences news, President Juan C. Jaen bought 15,000 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The stock was purchased at an average cost of $7.59 per share, for a total transaction of $113,850.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Juan C. Jaen bought 10,000 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The stock was acquired at an average price of $8.25 per share, with a total value of $82,500.00. The disclosure for this purchase can be found here. Insiders bought 140,343 shares of company stock worth $1,120,078 over the last 90 days. Company insiders own 19.23% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in RCUS. Jacobs Levy Equity Management Inc. bought a new position in Arcus Biosciences in the 2nd quarter worth approximately $144,000. BlackRock Inc. raised its position in shares of Arcus Biosciences by 22.1% during the 2nd quarter. BlackRock Inc. now owns 2,236,133 shares of the company’s stock valued at $17,777,000 after acquiring an additional 404,432 shares during the last quarter. Athanor Capital LP bought a new stake in shares of Arcus Biosciences during the 2nd quarter valued at $126,000. Northern Trust Corp raised its position in shares of Arcus Biosciences by 6.0% during the 2nd quarter. Northern Trust Corp now owns 332,256 shares of the company’s stock valued at $2,642,000 after acquiring an additional 18,696 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Arcus Biosciences by 9.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 116,983 shares of the company’s stock valued at $930,000 after acquiring an additional 9,980 shares during the last quarter. Hedge funds and other institutional investors own 46.59% of the company’s stock.

About Arcus Biosciences

Arcus Biosciences, Inc, a clinical-stage biopharmaceutical company, engages in developing and commercializing cancer immunotherapies in the United States. The company develops various programs targeting immuno-oncology pathways, including AB928, a dual adenosine receptor antagonist, which is in a Phase I/Ib clinical trial; and AB122, an anti-PD-1 antibody that is in Phase I clinical trial.

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