Arcus Biosciences Inc (RCUS) to Post Q3 2018 Earnings of ($0.42) Per Share, Wedbush Forecasts

Arcus Biosciences Inc (NYSE:RCUS) – Investment analysts at Wedbush issued their Q3 2018 earnings per share estimates for shares of Arcus Biosciences in a research report issued on Monday, October 8th. Wedbush analyst R. Driscoll forecasts that the company will post earnings per share of ($0.42) for the quarter. Wedbush currently has a “Outperform” rating and a $22.00 target price on the stock. Wedbush also issued estimates for Arcus Biosciences’ Q4 2018 earnings at ($0.43) EPS, FY2018 earnings at ($2.53) EPS, FY2019 earnings at ($1.94) EPS, FY2020 earnings at ($2.17) EPS, FY2021 earnings at ($2.36) EPS and FY2022 earnings at ($1.96) EPS.

Separately, Zacks Investment Research raised Arcus Biosciences from a “sell” rating to a “hold” rating in a research report on Friday, June 15th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $18.60.

Shares of NYSE:RCUS opened at $12.44 on Thursday. Arcus Biosciences has a 12-month low of $10.80 and a 12-month high of $22.10.

Arcus Biosciences (NYSE:RCUS) last announced its earnings results on Monday, August 6th. The company reported ($0.32) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.40) by $0.08. The company had revenue of $1.25 million for the quarter, compared to the consensus estimate of $1.30 million.

In other Arcus Biosciences news, CEO Terry J. Rosen purchased 28,401 shares of the firm’s stock in a transaction on Thursday, August 16th. The stock was purchased at an average cost of $12.64 per share, for a total transaction of $358,988.64. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Also, President Juan C. Jaen purchased 10,000 shares of the firm’s stock in a transaction on Monday, August 13th. The shares were acquired at an average price of $11.88 per share, with a total value of $118,800.00. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 85,117 shares of company stock valued at $1,118,707.

Institutional investors have recently modified their holdings of the business. Baker BROS. Advisors LP acquired a new stake in shares of Arcus Biosciences in the 2nd quarter valued at about $1,488,000. Hillhouse Capital Management Ltd. grew its stake in shares of Arcus Biosciences by 80.5% in the 2nd quarter. Hillhouse Capital Management Ltd. now owns 767,128 shares of the company’s stock valued at $9,390,000 after buying an additional 342,128 shares during the period. Platinum Investment Management Ltd. grew its stake in shares of Arcus Biosciences by 428.4% in the 2nd quarter. Platinum Investment Management Ltd. now owns 52,841 shares of the company’s stock valued at $647,000 after buying an additional 42,841 shares during the period. Vident Investment Advisory LLC acquired a new stake in shares of Arcus Biosciences in the 2nd quarter valued at about $1,911,000. Finally, Hilltop Holdings Inc. acquired a new stake in shares of Arcus Biosciences in the 2nd quarter valued at about $136,000. Hedge funds and other institutional investors own 39.02% of the company’s stock.

About Arcus Biosciences

Arcus Biosciences, Inc, a clinical-stage biopharmaceutical company, engages in developing and commercializing cancer immunotherapies in the United States. It is developing various products for treating solid tumors, including AB928, an adenosine receptor antagonist that is in Phase I clinical trial; AB680, a CD73 inhibitor; AB122, an anti-PD-1 antibody that is Phase I clinical trial; and AB154, an anti-TIGIT antibody.

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

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