Key Points
- Insider Patrick Burnett sold 11,500 shares on December 15 at an average price of $28.94 for $332,810, reducing his stake to 98,307 shares (a 10.47% decrease); he also executed multiple sales in early November.
- Arcutis shares traded around $28.38 and the company recently beat quarterly expectations (EPS $0.06 vs. -$0.10 est., revenue $99.22M vs. $86.69M); several analysts have raised price targets and the consensus rating is a Moderate Buy with an average target near $29.
Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT - Get Free Report) insider Patrick Burnett sold 11,500 shares of the company's stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $28.94, for a total value of $332,810.00. Following the completion of the sale, the insider owned 98,307 shares in the company, valued at $2,845,004.58. This represents a 10.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Patrick Burnett also recently made the following trade(s):
- On Thursday, November 6th, Patrick Burnett sold 17,250 shares of Arcutis Biotherapeutics stock. The stock was sold at an average price of $24.18, for a total value of $417,105.00.
- On Wednesday, November 5th, Patrick Burnett sold 3,864 shares of Arcutis Biotherapeutics stock. The shares were sold at an average price of $23.72, for a total value of $91,654.08.
- On Monday, November 3rd, Patrick Burnett sold 2,622 shares of Arcutis Biotherapeutics stock. The stock was sold at an average price of $24.72, for a total transaction of $64,815.84.
Arcutis Biotherapeutics Stock Performance
Arcutis Biotherapeutics stock traded up $0.04 during trading hours on Thursday, hitting $28.38. The company had a trading volume of 62,431 shares, compared to its average volume of 2,148,511. The firm has a 50-day moving average of $25.75 and a 200 day moving average of $19.15. 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 firm has a market cap of $3.48 billion, a PE ratio of -79.80 and a beta of 1.69. Arcutis Biotherapeutics, Inc. has a one year low of $11.13 and a one year high of $31.77.
Arcutis Biotherapeutics (NASDAQ:ARQT - Get Free Report) last issued its quarterly earnings data on Tuesday, October 28th. The company reported $0.06 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.10) by $0.16. The company had revenue of $99.22 million during the quarter, compared to analysts' expectations of $86.69 million. Arcutis Biotherapeutics had a negative return on equity of 29.69% and a negative net margin of 13.94%. On average, sell-side analysts expect that Arcutis Biotherapeutics, Inc. will post -1.33 earnings per share for the current year.
Wall Street Analyst Weigh In
A number of research firms have recently weighed in on ARQT. The Goldman Sachs Group lifted their target price on Arcutis Biotherapeutics from $19.00 to $29.00 and gave the stock a "neutral" rating in a report on Thursday, October 30th. HC Wainwright reiterated a "buy" rating and issued a $30.00 price objective on shares of Arcutis Biotherapeutics in a research note on Wednesday, October 29th. Zacks Research upgraded shares of Arcutis Biotherapeutics from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, October 29th. Mizuho increased their price target on Arcutis Biotherapeutics from $32.00 to $37.00 and gave the stock an "outperform" rating in a research report on Friday, November 28th. Finally, Wall Street Zen raised Arcutis Biotherapeutics from a "buy" rating to a "strong-buy" rating in a report on Sunday. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Arcutis Biotherapeutics presently has a consensus rating of "Moderate Buy" and an average price target of $29.00.
Get Our Latest Stock Report on Arcutis Biotherapeutics
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the stock. Jennison Associates LLC grew its holdings in shares of Arcutis Biotherapeutics by 10.3% during the 3rd quarter. Jennison Associates LLC now owns 12,254,119 shares of the company's stock valued at $230,990,000 after purchasing an additional 1,144,714 shares during the last quarter. Frazier Life Sciences Management L.P. grew its stake in shares of Arcutis Biotherapeutics by 12.4% during the second quarter. Frazier Life Sciences Management L.P. now owns 9,874,511 shares of the company's stock worth $138,441,000 after buying an additional 1,089,227 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Arcutis Biotherapeutics by 1.4% during the third quarter. Vanguard Group Inc. now owns 7,146,090 shares of the company's stock worth $134,704,000 after buying an additional 96,991 shares in the last quarter. Polar Capital Holdings Plc lifted its stake in shares of Arcutis Biotherapeutics by 5.8% in the 3rd quarter. Polar Capital Holdings Plc now owns 5,298,754 shares of the company's stock valued at $99,882,000 after acquiring an additional 292,279 shares during the last quarter. Finally, State Street Corp boosted its holdings in shares of Arcutis Biotherapeutics by 1.2% during the 2nd quarter. State Street Corp now owns 4,526,937 shares of the company's stock valued at $63,468,000 after acquiring an additional 52,734 shares in the last quarter.
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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