Brokers Set Expectations for Arcus Biosciences, Inc.’s FY2023 Earnings (NYSE:RCUS)
Arcus Biosciences, Inc. (NYSE:RCUS – Get Rating) – Research analysts at Cantor Fitzgerald issued their FY2023 earnings estimates for Arcus Biosciences in a note issued to investors on Monday, June 6th. Cantor Fitzgerald analyst L. Watsek forecasts that the company will post earnings of ($4.86) per share for the year. Cantor Fitzgerald currently has a “Overweight” rating on the stock. Arcus Biosciences (NYSE:RCUS – Get Rating) last issued its quarterly earnings results on Monday, May 9th. The company reported ($0.96) EPS for the quarter, missing analysts’ consensus estimates of $0.83 by ($1.79). Arcus Biosciences had a net margin of 14.67% and a return on equity of 8.25%. The business had revenue of $18.01 million for the quarter, compared to analyst estimates of $163.47 million. During the same period last year, the business posted ($1.08) earnings per share.
Other analysts also recently issued reports about the company. Zacks Investment Research downgraded Arcus Biosciences from a “hold” rating to a “sell” rating in a research note on Tuesday, March 1st. TheStreet raised shares of Arcus Biosciences from a “d” rating to a “c” rating in a research note on Monday, March 21st. Wedbush cut their price target on shares of Arcus Biosciences from $67.00 to $42.00 in a report on Wednesday, May 11th. Finally, Truist Financial lifted their price target on shares of Arcus Biosciences from $70.00 to $77.00 in a research note on Friday, February 25th. One research analyst has rated the stock with a sell rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Arcus Biosciences presently has an average rating of “Buy” and a consensus target price of $60.86.
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NYSE RCUS opened at $23.19 on Wednesday. Arcus Biosciences has a 12 month low of $16.74 and a 12 month high of $49.10. The company has a market capitalization of $1.66 billion, a PE ratio of 42.16 and a beta of 1.02. The stock has a 50-day simple moving average of $25.27 and a 200 day simple moving average of $32.75.
In other Arcus Biosciences news, COO Jennifer Jarrett sold 9,617 shares of the business’s stock in a transaction on Wednesday, March 16th. The shares were sold at an average price of $31.62, for a total transaction of $304,089.54. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 12.30% of the company’s stock.
A number of hedge funds have recently made changes to their positions in RCUS. Lazard Asset Management LLC acquired a new position in shares of Arcus Biosciences during the first quarter worth $76,000. Royal Bank of Canada raised its holdings in Arcus Biosciences by 217.2% in the second quarter. Royal Bank of Canada now owns 3,102 shares of the company’s stock valued at $85,000 after acquiring an additional 2,124 shares in the last quarter. C M Bidwell & Associates Ltd. acquired a new stake in Arcus Biosciences in the fourth quarter valued at $122,000. TriaGen Wealth Management LLC acquired a new stake in Arcus Biosciences in the fourth quarter valued at $202,000. Finally, PDT Partners LLC acquired a new stake in Arcus Biosciences in the fourth quarter valued at $204,000. 73.54% of the stock is currently owned by hedge funds and other institutional investors.
About Arcus Biosciences (Get Rating)
Arcus Biosciences, Inc, a clinical-stage biopharmaceutical company, develops and commercializes cancer therapies in the United States. Its product pipeline includes, Etrumadenant, a dual A2a/A2b adenosine receptor antagonist, which is in a Phase 1b/2 clinical trial; and Zimberelimab, an anti-PD-1 antibody that is in Phase 1b clinical trial for monotherapy.
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