Key Points
- Arcutis Biotherapeutics insider Todd Watanabe sold 9,625 shares on September 8 for a total of $168,822.50, decreasing his ownership of the stock by 1.07%.
- The company's recent earnings showed a profit of $81.50 million, surpassing analyst expectations, while reporting an EPS of ($0.13).
- Equities analysts have a consensus rating of "Moderate Buy" for Arcutis Biotherapeutics, with an average target price of $19.80.
Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT - Get Free Report) insider Todd Watanabe sold 9,625 shares of Arcutis Biotherapeutics stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $17.54, for a total value of $168,822.50. Following the sale, the insider directly owned 891,944 shares in the company, valued at $15,644,697.76. The trade was a 1.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.
Todd Watanabe also recently made the following trade(s):
- On Tuesday, September 9th, Todd Watanabe sold 504 shares of Arcutis Biotherapeutics stock. The shares were sold at an average price of $17.52, for a total value of $8,830.08.
- On Monday, August 4th, Todd Watanabe sold 11,547 shares of Arcutis Biotherapeutics stock. The shares were sold at an average price of $14.33, for a total value of $165,468.51.
Arcutis Biotherapeutics Stock Performance
Shares of ARQT stock opened at $17.57 on Thursday. The business's 50-day moving average price is $15.32 and its 200-day moving average price is $14.63. Arcutis Biotherapeutics, Inc. has a 12 month low of $8.03 and a 12 month high of $18.15. The firm has a market capitalization of $2.11 billion, a price-to-earnings ratio of -23.43 and a beta of 1.93. The company has a current ratio of 3.20, a quick ratio of 3.04 and a debt-to-equity ratio of 0.77.
Arcutis Biotherapeutics (NASDAQ:ARQT - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported ($0.13) EPS for the quarter, topping analysts' consensus estimates of ($0.18) by $0.05. The company had revenue of $81.50 million for the quarter, compared to analyst estimates of $72.70 million. Arcutis Biotherapeutics had a negative return on equity of 62.62% and a negative net margin of 35.40%. Equities research analysts forecast that Arcutis Biotherapeutics, Inc. will post -1.33 EPS for the current year.
Wall Street Analyst Weigh In
A number of equities analysts recently commented on ARQT shares. Wall Street Zen raised Arcutis Biotherapeutics from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Needham & Company LLC lifted their price objective on Arcutis Biotherapeutics from $20.00 to $22.00 and gave the stock a "buy" rating in a research note on Thursday, August 7th. Cowen reaffirmed a "buy" rating on shares of Arcutis Biotherapeutics in a research note on Thursday, August 7th. Finally, The Goldman Sachs Group assumed coverage on Arcutis Biotherapeutics in a research note on Friday, July 25th. They issued a "neutral" rating and a $18.00 price objective on the stock. Six research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, Arcutis Biotherapeutics has a consensus rating of "Moderate Buy" and an average target price of $19.80.
Read Our Latest Analysis on ARQT
Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in the company. Amalgamated Bank grew its stake in Arcutis Biotherapeutics by 39.4% in the first quarter. Amalgamated Bank now owns 3,723 shares of the company's stock valued at $58,000 after acquiring an additional 1,053 shares during the period. BNP Paribas Financial Markets bought a new stake in shares of Arcutis Biotherapeutics during the fourth quarter valued at approximately $1,112,000. New York State Common Retirement Fund increased its holdings in shares of Arcutis Biotherapeutics by 93.4% during the first quarter. New York State Common Retirement Fund now owns 48,670 shares of the company's stock valued at $761,000 after acquiring an additional 23,503 shares in the last quarter. Cerity Partners LLC bought a new stake in shares of Arcutis Biotherapeutics during the first quarter valued at approximately $303,000. Finally, Vontobel Holding Ltd. bought a new stake in shares of Arcutis Biotherapeutics during the first quarter valued at approximately $209,000.
Arcutis Biotherapeutics Company Profile
(
Get Free Report)
Arcutis Biotherapeutics, Inc, a biopharmaceutical company, focuses on developing and commercializing treatments for dermatological diseases. Its lead product candidate is ARQ-151, a topical roflumilast cream that has completed Phase III clinical trials for the treatment of plaque psoriasis and atopic dermatitis.
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