What is Wedbush’s Forecast for RCUS FY2029 Earnings?

Arcus Biosciences, Inc. (NYSE:RCUS) – Analysts at Wedbush issued their FY2029 EPS estimates for shares of Arcus Biosciences in a research note issued to investors on Tuesday, February 18th. Wedbush analyst R. Driscoll anticipates that the company will post earnings per share of $3.03 for the year. Wedbush has a “Outperform” rating and a $36.00 price target on the stock. The consensus estimate for Arcus Biosciences’ current full-year earnings is ($3.20) per share.

A number of other brokerages have also recently issued reports on RCUS. HC Wainwright lowered their price target on shares of Arcus Biosciences from $20.00 to $18.00 and set a “neutral” rating for the company in a research report on Tuesday. Morgan Stanley lowered their price target on shares of Arcus Biosciences from $36.00 to $25.00 and set an “overweight” rating for the company in a research report on Tuesday. Barclays lifted their price target on shares of Arcus Biosciences from $25.00 to $29.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Finally, Bank of America reduced their price objective on shares of Arcus Biosciences from $22.00 to $17.00 and set a “neutral” rating for the company in a research note on Wednesday. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Arcus Biosciences currently has a consensus rating of “Moderate Buy” and an average price target of $29.50.

Arcus Biosciences Price Performance

Shares of NYSE RCUS opened at $11.09 on Thursday. Arcus Biosciences has a 1 year low of $10.65 and a 1 year high of $20.31. The firm has a 50-day moving average of $14.15 and a 200 day moving average of $15.60. The company has a debt-to-equity ratio of 0.08, a current ratio of 5.24 and a quick ratio of 5.24.

Insider Activity at Arcus Biosciences

In related news, CFO Robert C. Goeltz II sold 3,594 shares of the business’s stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $15.00, for a total transaction of $53,910.00. Following the completion of the sale, the chief financial officer now directly owns 60,138 shares in the company, valued at approximately $902,070. The trade was a 5.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 12.30% of the stock is currently owned by company insiders.

Institutional Trading of Arcus Biosciences

Several large investors have recently added to or reduced their stakes in the business. Gilead Sciences Inc. bought a new stake in Arcus Biosciences during the fourth quarter valued at approximately $447,610,000. FMR LLC lifted its holdings in Arcus Biosciences by 6.9% during the third quarter. FMR LLC now owns 4,467,557 shares of the company’s stock valued at $68,309,000 after purchasing an additional 286,766 shares in the last quarter. Woodline Partners LP lifted its holdings in Arcus Biosciences by 1.3% during the fourth quarter. Woodline Partners LP now owns 3,523,937 shares of the company’s stock valued at $52,471,000 after purchasing an additional 45,497 shares in the last quarter. Point72 Asset Management L.P. lifted its holdings in Arcus Biosciences by 32.9% during the third quarter. Point72 Asset Management L.P. now owns 2,437,073 shares of the company’s stock valued at $37,263,000 after purchasing an additional 603,222 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Arcus Biosciences by 11.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,702,302 shares of the company’s stock valued at $25,348,000 after purchasing an additional 178,351 shares in the last quarter. 92.89% of the stock is currently owned by institutional investors.

Arcus Biosciences Company Profile

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.