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Arcus Biosciences (RCUS) Soars 8.5%: Is Further Upside Left in the Stock?
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Arcus Biosciences, Inc. (RCUS - Free Report) shares rallied 8.5% in the last trading session to close at $14.48. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 9.5% gain over the past four weeks.
The price rise can be attributed to growing investor confidence in the company’s progress with its pipeline candidates, which are being developed as monotherapies and in combination studies targeting various types of cancer indications.
This company is expected to post quarterly loss of $1.28 per share in its upcoming report, which represents a year-over-year change of -28%. Revenues are expected to be $20.44 million, down 57.4% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Arcus Biosciences, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on RCUS going forward to see if this recent jump can turn into more strength down the road.
Arcus Biosciences belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, Ascendis Pharma A/S (ASND - Free Report) , closed the last trading session 3.3% higher at $210.83. Over the past month, ASND has returned -0.9%.
For Ascendis Pharma, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.54. This represents a change of +71.4% from what the company reported a year ago. Ascendis Pharma currently has a Zacks Rank of #3 (Hold).
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Arcus Biosciences (RCUS) Soars 8.5%: Is Further Upside Left in the Stock?
Arcus Biosciences, Inc. (RCUS - Free Report) shares rallied 8.5% in the last trading session to close at $14.48. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 9.5% gain over the past four weeks.
The price rise can be attributed to growing investor confidence in the company’s progress with its pipeline candidates, which are being developed as monotherapies and in combination studies targeting various types of cancer indications.
This company is expected to post quarterly loss of $1.28 per share in its upcoming report, which represents a year-over-year change of -28%. Revenues are expected to be $20.44 million, down 57.4% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Arcus Biosciences, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on RCUS going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Arcus Biosciences belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, Ascendis Pharma A/S (ASND - Free Report) , closed the last trading session 3.3% higher at $210.83. Over the past month, ASND has returned -0.9%.
For Ascendis Pharma, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.54. This represents a change of +71.4% from what the company reported a year ago. Ascendis Pharma currently has a Zacks Rank of #3 (Hold).