Equities Analysts Offer Predictions for RCUS FY2024 Earnings

Arcus Biosciences, Inc. (NYSE:RCUS) – Equities researchers at HC Wainwright decreased their FY2024 earnings per share (EPS) estimates for shares of Arcus Biosciences in a report released on Thursday, November 7th. HC Wainwright analyst E. Bodnar now expects that the company will earn ($3.28) per share for the year, down from their prior estimate of ($3.20). HC Wainwright has a “Neutral” rating and a $20.00 price target on the stock. The consensus estimate for Arcus Biosciences’ current full-year earnings is ($3.25) per share. HC Wainwright also issued estimates for Arcus Biosciences’ Q4 2024 earnings at ($1.20) EPS, FY2025 earnings at ($3.54) EPS, FY2026 earnings at ($5.96) EPS, FY2027 earnings at ($6.17) EPS and FY2028 earnings at ($2.92) EPS.

Several other equities analysts have also recently weighed in on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arcus Biosciences in a research note on Thursday, October 3rd. Evercore ISI raised shares of Arcus Biosciences to a “strong-buy” rating in a research note on Friday, August 9th. Wells Fargo & Company assumed coverage on shares of Arcus Biosciences in a research note on Tuesday, October 8th. They set an “overweight” rating and a $29.00 price target for the company. Barclays raised their price target on shares of Arcus Biosciences from $25.00 to $29.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Finally, Wedbush reaffirmed an “outperform” rating and set a $36.00 price target on shares of Arcus Biosciences in a research note on Thursday. One research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $34.13.

Arcus Biosciences Price Performance

Shares of RCUS opened at $17.85 on Monday. The stock has a market capitalization of $1.63 billion, a P/E ratio of -5.67 and a beta of 0.89. Arcus Biosciences has a twelve month low of $12.95 and a twelve month high of $20.31. The company has a 50 day moving average of $16.61 and a 200-day moving average of $16.06. The company has a quick ratio of 5.14, a current ratio of 5.24 and a debt-to-equity ratio of 0.08.

Arcus Biosciences (NYSE:RCUS) last posted its earnings results on Wednesday, November 6th. The company reported ($1.00) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.06) by $0.06. Arcus Biosciences had a negative return on equity of 45.59% and a negative net margin of 102.66%. The business had revenue of $48.00 million during the quarter, compared to analysts’ expectations of $38.95 million. During the same period in the prior year, the business earned ($0.94) EPS. Arcus Biosciences’s revenue for the quarter was up 50.0% compared to the same quarter last year.

Hedge Funds Weigh In On Arcus Biosciences

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Arcus Biosciences by 2.4% in the first quarter. Vanguard Group Inc. now owns 4,791,244 shares of the company’s stock valued at $90,459,000 after buying an additional 110,528 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in Arcus Biosciences by 8.7% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 744,298 shares of the company’s stock valued at $11,336,000 after purchasing an additional 59,273 shares during the last quarter. SG Americas Securities LLC lifted its holdings in Arcus Biosciences by 1,396.1% during the 2nd quarter. SG Americas Securities LLC now owns 129,292 shares of the company’s stock valued at $1,969,000 after purchasing an additional 120,650 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new stake in Arcus Biosciences during the 2nd quarter valued at $1,286,000. Finally, The Manufacturers Life Insurance Company lifted its holdings in Arcus Biosciences by 7.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 29,858 shares of the company’s stock valued at $455,000 after purchasing an additional 2,123 shares during the last quarter. 92.89% of the stock is owned by institutional investors.

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.