Wall Street analysts predict that Arcus Biosciences Inc (NYSE:RCUS) will announce $66.03 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Arcus Biosciences’ earnings, with the lowest sales estimate coming in at $1.00 million and the highest estimate coming in at $182.70 million. Arcus Biosciences posted sales of $1.75 million during the same quarter last year, which suggests a positive year-over-year growth rate of 3,673.1%. The company is expected to issue its next quarterly earnings results on Tuesday, November 3rd.
According to Zacks, analysts expect that Arcus Biosciences will report full-year sales of $75.48 million for the current financial year, with estimates ranging from $6.00 million to $188.20 million. For the next financial year, analysts forecast that the company will post sales of $282.70 million, with estimates ranging from $57.50 million to $507.90 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover Arcus Biosciences.
Arcus Biosciences (NYSE:RCUS) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.93) EPS for the quarter, missing analysts’ consensus estimates of ($0.54) by ($0.39). Arcus Biosciences had a negative net margin of 745.18% and a negative return on equity of 49.11%. The firm had revenue of $1.75 million during the quarter, compared to the consensus estimate of $1.50 million.
RCUS has been the topic of a number of recent research reports. Zacks Investment Research cut shares of Arcus Biosciences from a “buy” rating to a “hold” rating in a report on Tuesday, August 11th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Arcus Biosciences in a report on Tuesday, May 19th. SunTrust Banks increased their price target on shares of Arcus Biosciences from $22.00 to $45.00 and gave the company a “buy” rating in a report on Wednesday, June 10th. SVB Leerink increased their price objective on shares of Arcus Biosciences from $42.00 to $44.00 and gave the company an “outperform” rating in a research report on Monday, August 10th. Finally, Citigroup increased their price objective on shares of Arcus Biosciences from $15.00 to $41.00 in a research report on Tuesday, June 2nd. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Arcus Biosciences currently has an average rating of “Buy” and an average price target of $37.67.
Arcus Biosciences stock traded up $0.08 during mid-day trading on Thursday, reaching $21.04. The company’s stock had a trading volume of 550,800 shares, compared to its average volume of 537,174. The company has a market capitalization of $1.37 billion, a P/E ratio of -8.59 and a beta of 1.17. Arcus Biosciences has a 12-month low of $7.19 and a 12-month high of $37.41. The firm’s fifty day moving average price is $22.83 and its two-hundred day moving average price is $22.98.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. FMR LLC raised its position in Arcus Biosciences by 3,297.7% in the second quarter. FMR LLC now owns 2,705,575 shares of the company’s stock worth $66,936,000 after acquiring an additional 2,625,945 shares during the period. Vanguard Group Inc. raised its position in shares of Arcus Biosciences by 43.8% during the 2nd quarter. Vanguard Group Inc. now owns 2,193,120 shares of the company’s stock valued at $54,257,000 after purchasing an additional 668,026 shares during the period. BVF Inc. IL raised its position in shares of Arcus Biosciences by 4,780.8% during the 2nd quarter. BVF Inc. IL now owns 1,882,722 shares of the company’s stock valued at $46,579,000 after purchasing an additional 1,844,148 shares during the period. Victory Capital Management Inc. raised its position in shares of Arcus Biosciences by 18,319.4% during the 2nd quarter. Victory Capital Management Inc. now owns 892,604 shares of the company’s stock valued at $22,083,000 after purchasing an additional 887,758 shares during the period. Finally, TimesSquare Capital Management LLC bought a new stake in shares of Arcus Biosciences during the 2nd quarter valued at $21,892,000. Institutional investors and hedge funds own 56.68% of the company’s stock.
Arcus Biosciences Company Profile
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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