Brokers Offer Predictions for Arcus Biosciences, Inc.’s Q2 2022 Earnings (NYSE:RCUS)

Arcus Biosciences, Inc. (NYSE:RCUSGet Rating) – Stock analysts at SVB Leerink reduced their Q2 2022 EPS estimates for shares of Arcus Biosciences in a research report issued on Tuesday, May 10th. SVB Leerink analyst D. Graybosch now expects that the company will post earnings of ($0.93) per share for the quarter, down from their previous estimate of ($0.82). SVB Leerink also issued estimates for Arcus Biosciences’ Q3 2022 earnings at ($1.11) EPS, Q4 2022 earnings at ($1.26) EPS, FY2022 earnings at ($4.24) EPS, FY2023 earnings at ($5.25) EPS, FY2024 earnings at ($4.59) EPS, FY2025 earnings at ($2.72) EPS and FY2026 earnings at ($1.54) EPS.

A number of other research analysts also recently weighed in on RCUS. TheStreet raised shares of Arcus Biosciences from a “d” rating to a “c” rating in a research report on Monday, March 21st. Wedbush decreased their target price on shares of Arcus Biosciences from $67.00 to $42.00 in a research report on Wednesday. Zacks Investment Research cut shares of Arcus Biosciences from a “hold” rating to a “sell” rating in a research note on Tuesday, March 1st. Truist Financial increased their price target on shares of Arcus Biosciences from $70.00 to $77.00 in a research note on Friday, February 25th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Arcus Biosciences in a research note on Friday, April 1st. One equities research analyst has rated the stock with a sell rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Arcus Biosciences presently has a consensus rating of “Buy” and a consensus target price of $60.86.

Arcus Biosciences stock opened at $19.37 on Thursday. The company has a market cap of $1.39 billion, a P/E ratio of 35.22 and a beta of 1.00. Arcus Biosciences has a 1-year low of $16.74 and a 1-year high of $49.10. The company has a fifty day simple moving average of $30.24 and a 200 day simple moving average of $34.82.

Arcus Biosciences (NYSE:RCUSGet Rating) last released its earnings results on Monday, May 9th. The company reported ($0.96) earnings per share 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 quarter in the prior year, the company posted ($1.08) earnings per share.

In other news, COO Jennifer Jarrett sold 9,617 shares of the firm’s stock in a transaction dated Wednesday, March 16th. The shares were sold at an average price of $31.62, for a total transaction of $304,089.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 19.71% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. EcoR1 Capital LLC increased its position in Arcus Biosciences by 53.6% during the third quarter. EcoR1 Capital LLC now owns 5,122,359 shares of the company’s stock worth $178,617,000 after acquiring an additional 1,787,112 shares during the period. BlackRock Inc. increased its position in Arcus Biosciences by 4.1% during the third quarter. BlackRock Inc. now owns 4,202,960 shares of the company’s stock worth $146,558,000 after acquiring an additional 164,232 shares during the period. Vanguard Group Inc. increased its position in Arcus Biosciences by 2.5% during the first quarter. Vanguard Group Inc. now owns 3,512,114 shares of the company’s stock worth $110,843,000 after acquiring an additional 85,778 shares during the period. BVF Inc. IL increased its position in Arcus Biosciences by 15.4% during the third quarter. BVF Inc. IL now owns 3,229,822 shares of the company’s stock worth $112,624,000 after acquiring an additional 432,000 shares during the period. Finally, Woodline Partners LP increased its position in Arcus Biosciences by 0.4% during the fourth quarter. Woodline Partners LP now owns 1,706,425 shares of the company’s stock worth $69,059,000 after acquiring an additional 7,312 shares during the period. 73.54% of the stock is currently owned by institutional investors and hedge funds.

Arcus Biosciences Company Profile (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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Earnings History and Estimates for Arcus Biosciences (NYSE:RCUS)

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