Arcus Biosciences (NYSE:RCUS) Announces Quarterly Earnings Results, Misses Expectations By $0.11 EPS

Arcus Biosciences (NYSE:RCUS) announced its quarterly earnings data on Wednesday. The company reported ($1.00) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.11), FiscalAI reports. The business had revenue of $9.00 million during the quarter, compared to analysts’ expectations of $7.58 million. Arcus Biosciences had a negative return on equity of 83.94% and a negative net margin of 453.00%. Arcus Biosciences’s revenue for the quarter was down 65.4% compared to the same quarter last year. During the same quarter last year, the company posted ($1.27) EPS.

Arcus Biosciences Stock Performance

Shares of RCUS stock opened at $17.71 on Friday. Arcus Biosciences has a one year low of $17.43 and a one year high of $31.74. The company’s 50-day moving average is $23.99 and its 200 day moving average is $24.56. The company has a market capitalization of $2.26 billion, a price-to-earnings ratio of -4.88 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.

Analyst Ratings Changes

Several research firms have recently issued reports on RCUS. Wedbush lowered their target price on shares of Arcus Biosciences from $49.00 to $45.00 and set an “outperform” rating for the company in a report on Thursday. Weiss Ratings restated a “sell (d-)” rating on shares of Arcus Biosciences in a research note on Thursday, October 15th. TD Cowen started coverage on Arcus Biosciences in a research note on Wednesday, September 16th. They issued a “buy” rating on the stock. Wall Street Zen lowered Arcus Biosciences from a “hold” rating to a “sell” rating in a research report on Saturday, October 24th. Finally, Leerink Partners lifted their price objective on Arcus Biosciences from $46.00 to $49.00 and gave the company an “outperform” rating in a research note on Thursday. Twelve investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Arcus Biosciences has a consensus rating of “Moderate Buy” and a consensus target price of $39.36.

Arcus Biosciences News Summary

Here are the key news stories impacting Arcus Biosciences this week:

• Positive Sentiment: Leerink Partners raised its price target to $49 from $46 and reiterated an “outperform” rating, signaling continued confidence in Arcus’s prospects. Leerink Partners rating
• Positive Sentiment: Despite trimming its target to $45 from $49, Wedbush maintained an “outperform” rating. Truist also retained a “buy” rating after lowering its target to $40 from $41; both targets remain well above the current share price. Wedbush price-target report Truist price-target report
• Negative Sentiment: Arcus reported a third-quarter loss of $1.00 per share, worse than analysts’ expected loss of about $0.89–$0.92. Revenue of $9 million topped the cited $7.58 million estimate, but was down 65.4% year over year. The earnings miss and revenue contraction may weigh on sentiment. Arcus third-quarter results

Insiders Place Their Bets

In other Arcus Biosciences news, CAO Alexander Azoy sold 2,827 shares of Arcus Biosciences stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $30.00, for a total value of $84,810.00. Following the completion of the transaction, 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 filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 7.60% of the company’s stock.

About Arcus Biosciences

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.