Key Points
- Director Howard Welgus sold 10,000 shares on Jan. 2 at an average price of $28.96 for proceeds of $289,600, trimming his stake by 12.54% to 69,744 shares (~$2.02M); the transaction was disclosed in an SEC filing.
- Arcutis last quarter reported an EPS of $0.06 (vs. consensus -$0.10) and revenue of $99.22M (beat $86.69M), but still shows a negative net margin (-13.94%) and negative ROE (-29.69%); the stock trades near $29 with a 50‑day SMA of $28.03 and 200‑day SMA of $20.70.
- Analysts are mixed, but the consensus rating is a Moderate Buy with an average target price of $29, while individual broker ratings range from strong‑buy to sell.
Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT - Get Free Report) Director Howard Welgus sold 10,000 shares of the stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $28.96, for a total value of $289,600.00. Following the completion of the transaction, the director owned 69,744 shares of the company's stock, valued at approximately $2,019,786.24. This trade represents a 12.54% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Arcutis Biotherapeutics Stock Performance
Shares of Arcutis Biotherapeutics stock opened at $29.22 on Wednesday. The business has a fifty day simple moving average of $28.03 and a two-hundred day simple moving average of $20.70. The firm has a market capitalization of $3.58 billion, a P/E ratio of -81.17 and a beta of 1.71. The company has a current ratio of 3.50, a quick ratio of 3.28 and a debt-to-equity ratio of 0.68. Arcutis Biotherapeutics, Inc. has a 12 month low of $11.13 and a 12 month high of $31.77.
Arcutis Biotherapeutics (NASDAQ:ARQT - Get Free Report) last issued its quarterly earnings results on Tuesday, October 28th. The company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.16. Arcutis Biotherapeutics had a negative net margin of 13.94% and a negative return on equity of 29.69%. The company had revenue of $99.22 million during the quarter, compared to analyst estimates of $86.69 million. On average, equities analysts forecast that Arcutis Biotherapeutics, Inc. will post -1.33 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Arcutis Biotherapeutics
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Advisors Asset Management Inc. boosted its stake in Arcutis Biotherapeutics by 26.2% during the 1st quarter. Advisors Asset Management Inc. now owns 28,187 shares of the company's stock valued at $441,000 after purchasing an additional 5,848 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of Arcutis Biotherapeutics by 21.4% during the first quarter. AQR Capital Management LLC now owns 248,196 shares of the company's stock valued at $3,882,000 after purchasing an additional 43,716 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Arcutis Biotherapeutics by 3.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 71,417 shares of the company's stock valued at $1,118,000 after buying an additional 2,063 shares during the last quarter. Scientech Research LLC bought a new stake in Arcutis Biotherapeutics in the 1st quarter worth about $863,000. Finally, Fred Alger Management LLC purchased a new position in Arcutis Biotherapeutics in the 1st quarter worth about $568,000.
Analysts Set New Price Targets
A number of brokerages have recently commented on ARQT. Zacks Research cut Arcutis Biotherapeutics from a "strong-buy" rating to a "hold" rating in a research report on Monday, December 29th. The Goldman Sachs Group lifted their price objective on Arcutis Biotherapeutics from $19.00 to $29.00 and gave the company a "neutral" rating in a research note on Thursday, October 30th. Wall Street Zen raised Arcutis Biotherapeutics from a "buy" rating to a "strong-buy" rating in a report on Sunday. HC Wainwright reissued a "buy" rating and issued a $30.00 target price on shares of Arcutis Biotherapeutics in a research note on Wednesday, October 29th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Arcutis Biotherapeutics in a research report on Monday, December 29th. Six research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $29.00.
Check Out Our Latest Stock Analysis on Arcutis Biotherapeutics
About Arcutis Biotherapeutics
(
Get Free Report)
Arcutis Biotherapeutics is a clinical-stage biopharmaceutical company focused on developing and commercializing innovative therapies for immuno-inflammatory skin diseases. The company's research and development efforts center on targeted treatments that address the underlying biology of conditions such as plaque psoriasis, atopic dermatitis, seborrheic dermatitis and vitiligo. Arcutis employs a precision-medicine approach to deliver topical therapies designed to improve efficacy and tolerability compared with existing treatment options.
In August 2022, Arcutis received U.S.
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