What is Wedbush’s Forecast for RCUS FY2029 Earnings?

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

Other equities research analysts also recently issued reports about the stock. Morgan Stanley reduced their price objective 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. Bank of America dropped their target price on shares of Arcus Biosciences from $22.00 to $17.00 and set a “neutral” rating on the stock in a research note on Wednesday. Barclays boosted their target price on shares of Arcus Biosciences from $25.00 to $29.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Finally, HC Wainwright dropped their target price on shares of Arcus Biosciences from $20.00 to $18.00 and set a “neutral” rating on the stock in a research note on Tuesday. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $29.50.

Arcus Biosciences Price Performance

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

Hedge Funds Weigh In On Arcus Biosciences

Institutional investors have recently made changes to their positions in the stock. Jane Street Group LLC increased its holdings in shares of Arcus Biosciences by 59.8% in the 3rd quarter. Jane Street Group LLC now owns 217,041 shares of the company’s stock worth $3,319,000 after buying an additional 81,193 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Arcus Biosciences by 11.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 566,979 shares of the company’s stock valued at $8,669,000 after purchasing an additional 59,536 shares during the last quarter. GSA Capital Partners LLP grew its holdings in shares of Arcus Biosciences by 17.8% during the 3rd quarter. GSA Capital Partners LLP now owns 187,415 shares of the company’s stock valued at $2,866,000 after purchasing an additional 28,307 shares during the last quarter. Parkman Healthcare Partners LLC grew its holdings in shares of Arcus Biosciences by 146.9% during the 3rd quarter. Parkman Healthcare Partners LLC now owns 1,025,754 shares of the company’s stock valued at $15,684,000 after purchasing an additional 610,219 shares during the last quarter. Finally, Barclays PLC grew its holdings in Arcus Biosciences by 49.0% in the 3rd quarter. Barclays PLC now owns 118,693 shares of the company’s stock worth $1,816,000 after acquiring an additional 39,015 shares during the last quarter. Institutional investors own 92.89% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Robert C. Goeltz II sold 3,594 shares of the stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $15.00, for a total value of $53,910.00. Following the transaction, the chief financial officer now owns 60,138 shares of the company’s stock, valued at $902,070. This represents a 5.64 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 12.30% 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.