Brokerages Anticipate Arcus Biosciences, Inc. (NYSE:RCUS) Will Post Quarterly Sales of $21.00 Million

Brokerages predict that Arcus Biosciences, Inc. (NYSE:RCUSGet Rating) will report sales of $21.00 million for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Arcus Biosciences’ earnings, with estimates ranging from $18.00 million to $22.50 million. Arcus Biosciences reported sales of $9.46 million in the same quarter last year, which indicates a positive year-over-year growth rate of 122%. The firm is scheduled to announce its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that Arcus Biosciences will report full year sales of $81.00 million for the current year, with estimates ranging from $72.00 million to $85.51 million. For the next year, analysts forecast that the firm will post sales of $90.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Arcus Biosciences.

Arcus Biosciences (NYSE:RCUSGet Rating) last released its quarterly earnings data on Monday, May 9th. The company reported ($0.96) earnings per share (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%. During the same period last year, the firm earned ($1.08) earnings per share.

Several equities analysts have weighed in on RCUS shares. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arcus Biosciences in a report on Friday, April 1st. Truist Financial lifted their price objective on Arcus Biosciences from $70.00 to $77.00 in a report on Friday, February 25th. Wedbush dropped their price objective on Arcus Biosciences from $67.00 to $42.00 in a report on Wednesday, May 11th. TheStreet raised Arcus Biosciences from a “d” rating to a “c” rating in a report on Monday, March 21st. Finally, Zacks Investment Research lowered Arcus Biosciences from a “hold” rating to a “sell” rating in a research note on Tuesday, March 1st. One analyst has rated the stock with a sell rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $60.86.

NYSE:RCUS opened at $18.92 on Friday. The stock has a market cap of $1.36 billion, a P/E ratio of 34.40 and a beta of 1.00. The stock has a 50 day simple moving average of $28.85 and a 200 day simple moving average of $34.32. Arcus Biosciences has a 1-year low of $16.74 and a 1-year high of $49.10.

In related news, COO Jennifer Jarrett sold 9,617 shares of the business’s stock in a transaction on Wednesday, March 16th. The stock was 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 is accessible through this link. Insiders own 19.71% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in RCUS. Lazard Asset Management LLC acquired a new position in Arcus Biosciences during the 1st quarter worth about $76,000. Royal Bank of Canada lifted its holdings in Arcus Biosciences by 217.2% during the 2nd quarter. Royal Bank of Canada now owns 3,102 shares of the company’s stock worth $85,000 after buying an additional 2,124 shares during the period. C M Bidwell & Associates Ltd. acquired a new position in Arcus Biosciences during the 4th quarter worth about $122,000. TriaGen Wealth Management LLC acquired a new position in Arcus Biosciences during the 4th quarter worth about $202,000. Finally, PDT Partners LLC acquired a new position in Arcus Biosciences during the 4th quarter worth about $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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