Arcus Biosciences Inc (NYSE:RCUS) – Analysts at Wedbush increased their FY2018 earnings per share estimates for Arcus Biosciences in a research report issued on Tuesday, November 13th. Wedbush analyst R. Driscoll now forecasts that the company will post earnings per share of ($2.37) for the year, up from their prior forecast of ($2.53). Wedbush currently has a “Outperform” rating and a $22.00 target price on the stock. Wedbush also issued estimates for Arcus Biosciences’ Q1 2019 earnings at ($0.45) EPS, Q2 2019 earnings at ($0.47) EPS, Q3 2019 earnings at ($0.49) EPS, Q4 2019 earnings at ($0.51) EPS, FY2019 earnings at ($1.93) EPS, FY2020 earnings at ($2.15) EPS, FY2021 earnings at ($2.35) EPS and FY2022 earnings at ($1.95) EPS.
Arcus Biosciences (NYSE:RCUS) last issued its quarterly earnings results on Thursday, November 8th. The company reported ($0.25) earnings per share for the quarter, topping the consensus estimate of ($0.38) by $0.13. The business had revenue of $4.29 million for the quarter, compared to the consensus estimate of $1.40 million.
Separately, Zacks Investment Research raised shares of Arcus Biosciences from a “hold” rating to a “buy” rating and set a $14.00 price target for the company in a research note on Saturday, July 21st. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $18.60.
Shares of RCUS opened at $11.65 on Friday. Arcus Biosciences has a twelve month low of $9.50 and a twelve month high of $22.10.
Several large investors have recently added to or reduced their stakes in RCUS. Wells Fargo & Company MN bought a new position in shares of Arcus Biosciences in the first quarter valued at $155,000. BlackRock Inc. bought a new position in shares of Arcus Biosciences in the first quarter valued at $303,000. Millennium Management LLC acquired a new stake in Arcus Biosciences during the 1st quarter valued at $3,180,000. Bank of New York Mellon Corp acquired a new stake in Arcus Biosciences during the 2nd quarter valued at $196,000. Finally, Schwab Charles Investment Management Inc. acquired a new stake in Arcus Biosciences during the 2nd quarter valued at $491,000. 39.00% of the stock is owned by institutional investors and hedge funds.
In other news, CEO Terry J. Rosen bought 8,891 shares of the firm’s stock in a transaction that occurred on Tuesday, August 21st. The stock was acquired at an average cost of $13.24 per share, with a total value of $117,716.84. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Terry J. Rosen bought 18,607 shares of the firm’s stock in a transaction that occurred on Tuesday, August 28th. The stock was purchased at an average cost of $15.07 per share, with a total value of $280,407.49. The disclosure for this purchase can be found here. Insiders purchased 46,787 shares of company stock valued at $641,061 over the last three months.
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.