Arcus Biosciences (NYSE:RCUS) Posts Quarterly Earnings Results

Arcus Biosciences (NYSE:RCUS) issued its quarterly earnings data on Tuesday. The company reported ($1.02) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.92) by ($0.10), FiscalAI reports. The firm had revenue of $17.00 million for the quarter, compared to analysts’ expectations of $29.49 million. Arcus Biosciences had a negative return on equity of 65.77% and a negative net margin of 142.91%.The business’s revenue for the quarter was down 39.3% compared to the same quarter last year. During the same period in the previous year, the business posted ($1.14) EPS.

Here are the key takeaways from Arcus Biosciences’ conference call:

• Arcus now has full ownership of casdatifan and says its phase III PEAK-1 (second-line CAS + cabozantinib) is enrolling rapidly, targeting full enrollment by year-end 2026 and a frontline phase III start by year-end.
• The company highlights differentiated clinical data for casdatifan — ARC-20 100 mg monotherapy showed a confirmed ORR of 45% and a median PFS of 15.1 months in late-line cohorts — and argues this superior pharmacodynamic profile explains competitive advantages versus belzutifan.
• Arcus reports a strong balance sheet with $876 million in cash and a runway into at least H2 2028, expects about $600M at year-end 2026, and plans to focus >80% of portfolio spend on CAS by 2027 while reducing overall R&D/headcount.
• Non-oncology programs and other oncology studies remain active — the PRISM-1 Phase III quemliclustat pancreatic trial is fully enrolled with a H1 2027 readout, AB102 (MRGPRX2 antagonist) is expected to enter the clinic in Q3 2026, and oral TNF and CCR6 candidates are planned for 2027 — all carry typical clinical risk/uncertainty.
• The company announced discontinuation of STAR-121 (domvanalimab + zim + chemo in 1L NSCLC) for futility, a setback for the anti-TIGIT program, although exploratory zim + chemo data were consistent with expectations.

Arcus Biosciences Stock Performance

Arcus Biosciences stock traded up $0.04 during trading hours on Tuesday, reaching $26.09. 1,150,829 shares of the stock were exchanged, compared to its average volume of 1,297,410. The stock has a market cap of $3.28 billion, a P/E ratio of -7.90 and a beta of 0.87. The company has a debt-to-equity ratio of 0.16, a quick ratio of 4.36 and a current ratio of 4.36. Arcus Biosciences has a 52-week low of $7.06 and a 52-week high of $28.72. The firm’s 50 day moving average is $22.69 and its 200 day moving average is $21.97.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on RCUS. HC Wainwright reissued a “buy” rating and issued a $32.00 price objective on shares of Arcus Biosciences in a report on Monday, March 2nd. Wall Street Zen raised shares of Arcus Biosciences from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. Wells Fargo & Company set a $23.00 target price on shares of Arcus Biosciences and gave the company an “equal weight” rating in a report on Thursday, February 12th. Wedbush increased their target price on shares of Arcus Biosciences from $37.00 to $41.00 and gave the stock an “outperform” rating in a research note on Thursday, April 2nd. Finally, The Goldman Sachs Group raised Arcus Biosciences from a “neutral” rating to a “buy” rating and raised their price target for the stock from $16.00 to $28.00 in a report on Monday, January 12th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $32.44.

Institutional Investors Weigh In On Arcus Biosciences

A number of institutional investors have recently added to or reduced their stakes in the business. Creative Planning lifted its holdings in shares of Arcus Biosciences by 2.7% in the 3rd quarter. Creative Planning now owns 29,629 shares of the company’s stock valued at $403,000 after buying an additional 771 shares during the period. LPL Financial LLC lifted its holdings in Arcus Biosciences by 5.7% in the fourth quarter. LPL Financial LLC now owns 24,211 shares of the company’s stock valued at $577,000 after acquiring an additional 1,302 shares during the period. T. Rowe Price Investment Management Inc. purchased a new stake in shares of Arcus Biosciences during the 4th quarter worth $39,000. MetLife Investment Management LLC increased its holdings in shares of Arcus Biosciences by 4.8% in the 4th quarter. MetLife Investment Management LLC now owns 43,434 shares of the company’s stock valued at $1,035,000 after purchasing an additional 1,972 shares in the last quarter. Finally, Police & Firemen s Retirement System of New Jersey increased its holdings in shares of Arcus Biosciences by 12.0% in the 4th quarter. Police & Firemen s Retirement System of New Jersey now owns 21,047 shares of the company’s stock valued at $502,000 after purchasing an additional 2,260 shares in the last quarter. Hedge funds and other institutional investors own 92.89% of the company’s stock.

About Arcus Biosciences

Arcus Biosciences is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of novel cancer immunotherapies. The company’s research platform centers on modulating tumor microenvironments and immune checkpoints through both small-molecule and antibody-based candidates. Arcus aims to enhance antitumor immune responses by targeting pathways such as the adenosine axis and inhibitory receptors on immune cells.

The company’s lead clinical programs include etrumadenant, an orally administered A2A adenosine receptor antagonist being evaluated in combination with anti-PD-1 therapy, and domvanalimab, an anti-TIGIT monoclonal antibody.