Arcus Biosciences (NYSE:RCUS) Announces Earnings Results, Beats Estimates By $0.92 EPS

Arcus Biosciences (NYSE:RCUS) announced its earnings results on Wednesday. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.97) by $0.92, Briefing.com reports. The company had revenue of $145.00 million during the quarter, compared to analysts’ expectations of $28.77 million. Arcus Biosciences had a negative net margin of 262.39% and a negative return on equity of 57.17%. The firm’s quarterly revenue was up 480.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($1.09) earnings per share.

Arcus Biosciences Stock Performance

Shares of RCUS stock traded up $1.25 on Thursday, reaching $16.51. The stock had a trading volume of 341,906 shares, compared to its average volume of 766,742. Arcus Biosciences has a 1 year low of $12.95 and a 1 year high of $25.47. The stock has a market cap of $1.50 billion, a P/E ratio of -4.06 and a beta of 0.91. The company has a 50 day simple moving average of $17.01 and a 200 day simple moving average of $16.58.

Insider Transactions at Arcus Biosciences

In related news, President Juan C. Jaen sold 3,900 shares of the stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $20.06, for a total value of $78,234.00. Following the transaction, the president now owns 1,211,365 shares of the company’s stock, valued at $24,299,981.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, COO Jennifer Jarrett sold 24,555 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $20.07, for a total value of $492,818.85. Following the completion of the sale, the chief operating officer now owns 274,323 shares of the company’s stock, valued at approximately $5,505,662.61. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, President Juan C. Jaen sold 3,900 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $20.06, for a total transaction of $78,234.00. Following the completion of the transaction, the president now directly owns 1,211,365 shares of the company’s stock, valued at approximately $24,299,981.90. The disclosure for this sale can be found here. Insiders have sold 53,455 shares of company stock valued at $1,014,779 over the last quarter. 12.30% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages recently commented on RCUS. Truist Financial reissued a “buy” rating and set a $50.00 target price on shares of Arcus Biosciences in a report on Monday, March 25th. Mizuho decreased their target price on Arcus Biosciences from $51.00 to $42.00 and set a “buy” rating for the company in a research report on Tuesday, January 30th. Finally, Wedbush restated an “outperform” rating and issued a $30.00 price target on shares of Arcus Biosciences in a research report on Thursday. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $41.25.

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.