What is HC Wainwright’s Forecast for RCUS Q3 Earnings?

Arcus Biosciences, Inc. (NYSE:RCUS) – Equities research analysts at HC Wainwright issued their Q3 2024 earnings estimates for shares of Arcus Biosciences in a research report issued on Monday, October 21st. HC Wainwright analyst E. Bodnar forecasts that the company will earn ($1.05) per share for the quarter. HC Wainwright currently has a “Neutral” rating and a $20.00 price objective on the stock. The consensus estimate for Arcus Biosciences’ current full-year earnings is ($3.26) per share. HC Wainwright also issued estimates for Arcus Biosciences’ Q4 2024 earnings at ($1.08) EPS, FY2024 earnings at ($3.20) EPS, FY2025 earnings at ($3.31) EPS, FY2026 earnings at ($5.39) EPS, FY2027 earnings at ($5.51) EPS and FY2028 earnings at ($2.52) EPS.

RCUS has been the topic of a number of other reports. Wedbush reaffirmed an “outperform” rating and issued a $30.00 price objective on shares of Arcus Biosciences in a research note on Thursday, October 3rd. Evercore ISI upgraded Arcus Biosciences to a “strong-buy” rating in a report on Friday, August 9th. Cantor Fitzgerald restated an “overweight” rating on shares of Arcus Biosciences in a report on Thursday, October 3rd. Wells Fargo & Company assumed coverage on shares of Arcus Biosciences in a research report on Tuesday, October 8th. They set an “overweight” rating and a $29.00 target price on the stock. Finally, Barclays decreased their price target on shares of Arcus Biosciences from $35.00 to $25.00 and set an “overweight” rating for the company in a research note on Monday, July 8th. One investment analyst has rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $33.22.

Arcus Biosciences Stock Performance

RCUS stock opened at $16.80 on Wednesday. Arcus Biosciences has a 52-week low of $12.95 and a 52-week high of $20.31. The company has a market capitalization of $1.54 billion, a P/E ratio of -5.44 and a beta of 0.88. The company has a fifty day moving average price of $16.79 and a 200-day moving average price of $16.03.

Arcus Biosciences (NYSE:RCUS) last released its earnings results on Thursday, August 8th. The company reported ($1.02) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($1.02). Arcus Biosciences had a negative return on equity of 42.86% and a negative net margin of 100.81%. The firm had revenue of $39.00 million for the quarter, compared to analysts’ expectations of $26.24 million. During the same quarter in the previous year, the business posted ($1.04) earnings per share. The business’s revenue for the quarter was up 34.5% on a year-over-year basis.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in RCUS. Handelsbanken Fonder AB increased its holdings in Arcus Biosciences by 15.5% during the 3rd quarter. Handelsbanken Fonder AB now owns 22,300 shares of the company’s stock worth $341,000 after acquiring an additional 3,000 shares during the period. Point72 DIFC Ltd purchased a new position in shares of Arcus Biosciences during the second quarter worth about $83,000. Algert Global LLC increased its position in shares of Arcus Biosciences by 30.9% in the second quarter. Algert Global LLC now owns 76,257 shares of the company’s stock worth $1,161,000 after purchasing an additional 17,999 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in Arcus Biosciences by 7.7% in the second quarter. The Manufacturers Life Insurance Company now owns 29,858 shares of the company’s stock valued at $455,000 after purchasing an additional 2,123 shares in the last quarter. Finally, AQR Capital Management LLC lifted its position in Arcus Biosciences by 67.9% during the second quarter. AQR Capital Management LLC now owns 24,524 shares of the company’s stock valued at $374,000 after purchasing an additional 9,916 shares during the last quarter. Institutional investors own 92.89% of the company’s stock.

About Arcus Biosciences

Arcus Biosciences, Inc, a clinical-stage biopharmaceutical company, develops and commercializes cancer therapies in the United States. The company's pipeline products include Domvanalimab, an anti-TIGIT antibody, which is in Phase 2 and Phase 3 clinical trial; and AB308, an investigational anti-TIGIT monoclonal antibody, which is in Phase 1b clinical trial to study people with advanced solid and hematologic malignancies.