Key Points
- Arcutis Biotherapeutics director Howard Welgus sold 4,730 shares at an average price of $26.18, generating $123,831.40. The Rule 10b5-1 transaction reduced his holdings by 11.48% to 36,475 shares.
- Arcutis reported quarterly EPS of $0.11, exceeding the $0.06 consensus estimate, while revenue of $129.86 million also topped expectations.
- Analysts remain broadly positive, with six Buy ratings and three Holds, a “Moderate Buy” consensus, and an average price target of $35.57 versus the stock’s opening price of $26.46.
Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT - Get Free Report) Director Howard Welgus sold 4,730 shares of the firm's stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $26.18, for a total transaction of $123,831.40. Following the transaction, the director owned 36,475 shares of the company's stock, valued at approximately $954,915.50. The trade was a 11.48% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Arcutis Biotherapeutics Stock Performance
Shares of ARQT opened at $26.46 on Thursday. The company has a current ratio of 2.92, a quick ratio of 2.67 and a debt-to-equity ratio of 0.46. The firm's fifty day simple moving average is $26.74 and its two-hundred day simple moving average is $24.68. Arcutis Biotherapeutics, Inc. has a 12 month low of $15.10 and a 12 month high of $31.77. The stock has a market capitalization of $3.33 billion, a P/E ratio of 126.01 and a beta of 1.49.
Arcutis Biotherapeutics (NASDAQ:ARQT - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.06 by $0.05. The company had revenue of $129.86 million during the quarter, compared to the consensus estimate of $118.85 million. Arcutis Biotherapeutics had a net margin of 6.15% and a return on equity of 15.05%. As a group, analysts predict that Arcutis Biotherapeutics, Inc. will post 0.4 EPS for the current year.
Institutional Trading of Arcutis Biotherapeutics
Hedge funds and other institutional investors have recently made changes to their positions in the stock. SBI Securities Co. Ltd. grew its holdings in Arcutis Biotherapeutics by 325.4% during the 4th quarter. SBI Securities Co. Ltd. now owns 1,089 shares of the company's stock valued at $32,000 after buying an additional 833 shares in the last quarter. Global Retirement Partners LLC purchased a new position in Arcutis Biotherapeutics during the fourth quarter valued at approximately $35,000. EverSource Wealth Advisors LLC grew its stake in Arcutis Biotherapeutics by 124.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,261 shares of the company's stock valued at $37,000 after acquiring an additional 698 shares in the last quarter. NewEdge Advisors LLC increased its holdings in Arcutis Biotherapeutics by 209.0% during the 4th quarter. NewEdge Advisors LLC now owns 1,545 shares of the company's stock worth $45,000 after acquiring an additional 1,045 shares during the period. Finally, Truvestments Capital LLC increased its holdings in Arcutis Biotherapeutics by 114.2% during the 4th quarter. Truvestments Capital LLC now owns 3,012 shares of the company's stock worth $87,000 after acquiring an additional 1,606 shares during the period.
Wall Street Analysts Forecast Growth
Several analysts have recently commented on the company. Needham & Company LLC increased their price objective on Arcutis Biotherapeutics from $36.00 to $40.00 and gave the stock a "buy" rating in a research note on Thursday, August 6th. Morgan Stanley lifted their target price on Arcutis Biotherapeutics from $34.00 to $38.00 and gave the company an "overweight" rating in a research report on Thursday, August 6th. Weiss Ratings upgraded Arcutis Biotherapeutics from a "sell (d-)" rating to a "hold (c-)" rating in a report on Thursday, August 6th. Wall Street Zen raised Arcutis Biotherapeutics from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 8th. Finally, Guggenheim raised their price objective on Arcutis Biotherapeutics from $35.00 to $38.00 and gave the company a "buy" rating in a research note on Thursday, August 6th. Six equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $35.57.
Read Our Latest Research Report on ARQT
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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