Arcus Biosciences, Inc. (NYSE:RCUS) Expected to Post Quarterly Sales of $9.27 Million

Equities analysts predict that Arcus Biosciences, Inc. (NYSE:RCUS) will post $9.27 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Arcus Biosciences’ earnings. The lowest sales estimate is $8.30 million and the highest is $10.00 million. Arcus Biosciences reported sales of $64.53 million during the same quarter last year, which indicates a negative year-over-year growth rate of 85.6%. The business is scheduled to issue its next earnings results on Thursday, November 4th.

On average, analysts expect that Arcus Biosciences will report full year sales of $36.91 million for the current financial year, with estimates ranging from $34.80 million to $38.00 million. For the next fiscal year, analysts anticipate that the firm will report sales of $166.60 million, with estimates ranging from $38.00 million to $423.80 million. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that cover Arcus Biosciences.

Arcus Biosciences (NYSE:RCUS) last released its quarterly earnings results on Wednesday, August 4th. The company reported ($1.09) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.87) by ($0.22). Arcus Biosciences had a negative return on equity of 34.30% and a negative net margin of 213.68%. The firm had revenue of $9.46 million for the quarter, compared to analyst estimates of $18.43 million.

Several equities analysts have recently issued reports on RCUS shares. Zacks Investment Research lowered Arcus Biosciences from a “hold” rating to a “sell” rating in a research note on Thursday, August 12th. SVB Leerink lifted their price target on Arcus Biosciences from $63.00 to $68.00 and gave the company an “outperform” rating in a research note on Friday, August 6th. One investment analyst has rated the stock with a sell rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $52.89.

Arcus Biosciences stock opened at $35.97 on Wednesday. The stock’s fifty day moving average price is $31.36 and its two-hundred day moving average price is $30.13. Arcus Biosciences has a one year low of $16.69 and a one year high of $42.36. The firm has a market cap of $2.57 billion, a PE ratio of -12.15 and a beta of 1.15.

In related news, COO Jennifer Jarrett sold 30,634 shares of the company’s stock in a transaction that occurred on Monday, September 20th. The stock was sold at an average price of $35.18, for a total transaction of $1,077,704.12. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 19.71% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of RCUS. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Arcus Biosciences by 57.7% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,296 shares of the company’s stock valued at $345,000 after purchasing an additional 4,499 shares during the last quarter. Los Angeles Capital Management LLC lifted its stake in Arcus Biosciences by 38.3% in the first quarter. Los Angeles Capital Management LLC now owns 10,685 shares of the company’s stock valued at $300,000 after purchasing an additional 2,960 shares during the last quarter. Alliancebernstein L.P. lifted its stake in Arcus Biosciences by 2.5% in the first quarter. Alliancebernstein L.P. now owns 45,000 shares of the company’s stock valued at $1,264,000 after purchasing an additional 1,100 shares during the last quarter. Swiss National Bank lifted its stake in Arcus Biosciences by 1.2% in the first quarter. Swiss National Bank now owns 96,496 shares of the company’s stock valued at $2,710,000 after purchasing an additional 1,100 shares during the last quarter. Finally, BlackRock Inc. lifted its stake in Arcus Biosciences by 4.3% in the first quarter. BlackRock Inc. now owns 3,393,646 shares of the company’s stock valued at $95,295,000 after purchasing an additional 138,555 shares during the last quarter. 56.82% of the stock is owned by hedge funds and other institutional investors.

About Arcus Biosciences

Arcus Biosciences, Inc engages in the development and commercialization of immunotherapies. It competes in the segments of the pharmaceutical, biotechnology and other related markets that develop immunotherapies for the treatment of cancer. The company was founded by Terry J. Rosen and Juan Carlos Jaen in 2015 and is headquartered in Hayward, CA.

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