Key Points
- Director Howard Welgus sold 10,000 shares on December 1 at an average price of $30.21 for $302,100, trimming his stake by 11.14% to 79,744 shares (about $2.41M).
- Arcutis beat the quarter's expectations, reporting $0.06 EPS versus a ($0.10) estimate and $99.22M in revenue versus $86.69M, though the company still shows a negative return on equity (~-29.69%) and negative net margin (~-13.94%).
- Analyst sentiment is mixed but generally positive with an average rating of Moderate Buy and an average target price of $29, including recent upgrades from Zacks and Wall Street Zen and a neutral target of $29 from Goldman Sachs.
Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT - Get Free Report) insider Masaru Matsuda sold 1,657 shares of the firm's stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $30.23, for a total transaction of $50,091.11. Following the completion of the sale, the insider directly owned 150,641 shares of the company's stock, valued at approximately $4,553,877.43. The trade was a 1.09% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Masaru Matsuda also recently made the following trade(s):
- On Wednesday, November 19th, Masaru Matsuda sold 2,550 shares of Arcutis Biotherapeutics stock. The shares were sold at an average price of $28.29, for a total value of $72,139.50.
- On Monday, November 3rd, Masaru Matsuda sold 7,208 shares of Arcutis Biotherapeutics stock. The stock was sold at an average price of $24.72, for a total value of $178,181.76.
- On Thursday, September 4th, Masaru Matsuda sold 36,130 shares of Arcutis Biotherapeutics stock. The stock was sold at an average price of $16.16, for a total transaction of $583,860.80.
Arcutis Biotherapeutics Price Performance
Arcutis Biotherapeutics stock opened at $29.70 on Thursday. The company has a debt-to-equity ratio of 0.68, a current ratio of 3.50 and a quick ratio of 3.28. The stock has a market cap of $3.64 billion, a price-to-earnings ratio of -82.58 and a beta of 1.69. The firm has a 50-day moving average of $23.69 and a two-hundred day moving average of $18.04. Arcutis Biotherapeutics, Inc. has a 1 year low of $11.13 and a 1 year high of $31.27.
Arcutis Biotherapeutics (NASDAQ:ARQT - Get Free Report) last issued its earnings results on Tuesday, October 28th. The company reported $0.06 earnings per share for the quarter, beating analysts' consensus estimates of ($0.10) by $0.16. Arcutis Biotherapeutics had a negative return on equity of 29.69% and a negative net margin of 13.94%.The business had revenue of $99.22 million during the quarter, compared to analyst estimates of $86.69 million. On average, research analysts forecast that Arcutis Biotherapeutics, Inc. will post -1.33 earnings per share for the current year.
Analysts Set New Price Targets
Several analysts recently weighed in on the company. HC Wainwright restated a "buy" rating and issued a $30.00 price objective on shares of Arcutis Biotherapeutics in a report on Wednesday, October 29th. The Goldman Sachs Group boosted their price target on shares of Arcutis Biotherapeutics from $19.00 to $29.00 and gave the company a "neutral" rating in a report on Thursday, October 30th. Zacks Research upgraded shares of Arcutis Biotherapeutics from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, October 29th. Wall Street Zen raised shares of Arcutis Biotherapeutics from a "buy" rating to a "strong-buy" rating in a report on Saturday, November 1st. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Arcutis Biotherapeutics in a research report on Monday. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $29.00.
Get Our Latest Report on Arcutis Biotherapeutics
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Johnson Investment Counsel Inc. purchased a new stake in Arcutis Biotherapeutics in the third quarter valued at about $30,000. Jones Financial Companies Lllp increased its holdings in shares of Arcutis Biotherapeutics by 1,291.1% during the third quarter. Jones Financial Companies Lllp now owns 7,067 shares of the company's stock valued at $124,000 after acquiring an additional 6,559 shares in the last quarter. Allostery Investments LP purchased a new position in shares of Arcutis Biotherapeutics in the 1st quarter valued at approximately $117,000. PNC Financial Services Group Inc. boosted its stake in Arcutis Biotherapeutics by 10.2% in the 2nd quarter. PNC Financial Services Group Inc. now owns 8,828 shares of the company's stock worth $124,000 after purchasing an additional 820 shares in the last quarter. Finally, Atlas Wealth LLC purchased a new stake in Arcutis Biotherapeutics during the 2nd quarter worth approximately $138,000.
About Arcutis Biotherapeutics
(
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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