Arcus Biosciences (NYSE:RCUS) Releases Earnings Results, Misses Estimates By $0.11 EPS

Key Points

• Arcus Biosciences reported a quarterly loss of $1.00 per share, missing analyst estimates by $0.11, while revenue of $9.00 million exceeded expectations of $7.58 million.
• Shares rose 2.2% in mid-day trading to $19.32, despite trading below their 50- and 200-day moving averages.
• Analysts have a consensus “Moderate Buy” rating and an average price target of $39.64; ratings include 12 Buys, three Holds, and one Sell.

Arcus Biosciences (NYSE:RCUS - Get Free Report) posted its earnings results on Wednesday. The company reported ($1.00) earnings per share for the quarter, missing the consensus estimate of ($0.89) by ($0.11), FiscalAI reports. The company had revenue of $9.00 million for the quarter, compared to analysts' expectations of $7.58 million. Arcus Biosciences had a negative net margin of 393.16% and a negative return on equity of 89.54%.

Arcus Biosciences Trading Up 2.2%

Arcus Biosciences stock traded up $0.41 during mid-day trading on Wednesday, hitting $19.32. The company's stock had a trading volume of 1,873,064 shares, compared to its average volume of 1,420,162. The company has a 50 day moving average of $24.50 and a 200-day moving average of $24.59. The stock has a market cap of $2.46 billion, a PE ratio of -4.95 and a beta of 1.04. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.82 and a current ratio of 3.82. Arcus Biosciences has a one year low of $17.43 and a one year high of $31.74.

Insider Buying and Selling at Arcus Biosciences

In other news, CAO Alexander Azoy sold 2,827 shares of the business's stock in a transaction on Friday, August 21st. The shares were sold at an average price of $30.00, for a total transaction of $84,810.00. Following the completion of the sale, the chief accounting officer directly owned 39,581 shares of the company's stock, valued at approximately $1,187,430. The trade was a 6.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 7.60% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Wells Fargo & Company lifted their target price on Arcus Biosciences from $23.00 to $26.00 and gave the stock an "equal weight" rating in a report on Thursday, August 6th. Morgan Stanley set a $23.00 target price on Arcus Biosciences in a research report on Monday, August 10th. JPMorgan Chase & Co. began coverage on Arcus Biosciences in a research note on Wednesday, October 14th. They set an "overweight" rating and a $41.00 price target for the company. Weiss Ratings restated a "sell (d-)" rating on shares of Arcus Biosciences in a report on Thursday, October 15th. Finally, TD Cowen started coverage on Arcus Biosciences in a research note on Wednesday, September 16th. They issued a "buy" rating on the stock. Twelve research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $39.64.

Arcus Biosciences Company Profile

Arcus Biosciences, Inc is a clinical-stage biopharmaceutical company focused on developing therapies for cancer and other serious diseases. The company uses its research platform to discover and advance medicines designed to target immune suppression and other biological mechanisms involved in tumor growth.

Arcus's oncology pipeline has included antibody-based and small-molecule therapies aimed at targets such as TIGIT, PD-1, CD73, and the adenosine A2A and A2B receptors. Its key development programs have included domvanalimab, zimberelimab, quemliclustat, and etrumadenant, which have been evaluated in clinical studies across several cancer types, including lung, gastrointestinal, and colorectal cancers.

Founded in 2015 and headquartered in Hayward, California, Arcus conducts research and clinical-development activities intended to support potential commercialization in international markets.

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