Arcus Biosciences (RCUS) Stock Forecast & Price Target

Arcus Biosciences has demonstrated significant progress in its clinical pipeline, particularly with Casdatifan, leading to a revised sales forecast of approximately $1.5 billion for the drug in the second-line renal cell carcinoma (RCC) market by 2034, reflecting increased market penetration and enhanced probability of success. The successful outcome of the LITESPARK-011 trial, which met its primary endpoint, has bolstered confidence in the ongoing PEAK-1 trial, further reinforcing the positive outlook for Casdatifan, especially when compared to belzutifan. Financially, the company is positioned well with $841 million in cash and equivalents at the end of Q3 2025, providing sufficient runway to support operations and development initiatives through 2027.

Arcus Biosciences faces significant operational and financial risks that contribute to a negative outlook on its stock, including potential safety signals and efficacy concerns from its clinical and preclinical programs. The company recorded a substantial operating loss of $142 million in 3Q25, with an earnings per share (EPS) of ($1.27), indicating a challenging financial environment exacerbated by the need for nearly $700 million in additional financing through 2038 to maintain operations. As clinical trials continue, the risks associated with competition, regulatory decisions, and the overall viability of its leading product candidates such as Domvanalimab and Casdatifan further complicate the company's prospects for sustained market performance.