What is HC Wainwright’s Forecast for RCUS FY2029 Earnings?

Arcus Biosciences, Inc. (NYSE:RCUS) – Analysts at HC Wainwright cut their FY2029 earnings per share estimates for Arcus Biosciences in a research note issued on Monday, July 20th. HC Wainwright analyst E. Bodnar now expects that the company will post earnings per share of ($1.04) for the year, down from their prior estimate of ($0.81). HC Wainwright has a “Buy” rating and a $45.00 price target on the stock. The consensus estimate for Arcus Biosciences’ current full-year earnings is ($3.66) per share. HC Wainwright also issued estimates for Arcus Biosciences’ FY2030 earnings at ($0.25) EPS.

Several other brokerages have also recently commented on RCUS. Morgan Stanley boosted their price target on Arcus Biosciences from $20.00 to $22.00 and gave the company an “equal weight” rating in a research note on Monday, May 11th. Leerink Partners set a $47.00 price objective on shares of Arcus Biosciences in a research report on Monday, April 20th. The Goldman Sachs Group lifted their target price on shares of Arcus Biosciences from $30.00 to $34.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Lifesci Capital assumed coverage on shares of Arcus Biosciences in a research report on Thursday, June 4th. They issued an “outperform” rating and a $46.00 target price for the company. Finally, Wall Street Zen lowered shares of Arcus Biosciences from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Eight research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $36.40.

Arcus Biosciences Stock Up 4.6%

RCUS opened at $29.46 on Wednesday. The company has a market capitalization of $3.71 billion, a PE ratio of -9.26 and a beta of 0.80. The company has a debt-to-equity ratio of 0.19, a current ratio of 4.04 and a quick ratio of 4.04. Arcus Biosciences has a fifty-two week low of $8.84 and a fifty-two week high of $31.74. The business has a 50-day moving average of $26.30 and a 200-day moving average of $23.73.

Arcus Biosciences (NYSE:RCUS) last issued its earnings results on Tuesday, May 5th. The company reported ($1.02) EPS for the quarter, missing analysts’ consensus estimates of ($0.92) by ($0.10). Arcus Biosciences had a negative net margin of 156.36% and a negative return on equity of 68.97%. The firm had revenue of $17.00 million during the quarter, compared to analysts’ expectations of $29.48 million. During the same quarter last year, the firm earned ($1.14) EPS. The business’s revenue for the quarter was down 39.3% compared to the same quarter last year.

Insider Transactions at Arcus Biosciences

In other news, CFO Robert C. Goeltz II sold 7,763 shares of the stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $25.63, for a total transaction of $198,965.69. Following the transaction, the chief financial officer owned 84,161 shares of the company’s stock, valued at approximately $2,157,046.43. This represents a 8.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Juan C. Jaen sold 20,067 shares of the firm’s stock in a transaction that occurred on Friday, July 10th. The shares were sold at an average price of $28.62, for a total value of $574,317.54. Following the completion of the transaction, the president directly owned 822,240 shares in the company, valued at $23,532,508.80. The trade was a 2.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 110,325 shares of company stock worth $3,174,319. 7.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Arcus Biosciences

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Nicholas Investment Partners LP bought a new stake in shares of Arcus Biosciences during the 4th quarter worth $4,869,000. Aberdeen Group plc raised its holdings in Arcus Biosciences by 16.0% in the 4th quarter. Aberdeen Group plc now owns 384,601 shares of the company’s stock worth $9,165,000 after acquiring an additional 52,930 shares during the period. Baker BROS. Advisors LP bought a new position in Arcus Biosciences in the 4th quarter worth $6,434,000. First Turn Management LLC bought a new position in Arcus Biosciences in the 4th quarter worth $13,467,000. Finally, Y Intercept Hong Kong Ltd acquired a new position in Arcus Biosciences during the 1st quarter worth $1,862,000. Institutional investors and hedge funds 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.