Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT - Get Free Report) Director Terrie Curran sold 1,072 shares of the firm's stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $26.04, for a total value of $27,914.88. Following the transaction, the director directly owned 23,526 shares of the company's stock, valued at $612,617.04. The trade was a 4.36% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.
Arcutis Biotherapeutics Stock Down 1.2%
Shares of NASDAQ:ARQT opened at $24.78 on Tuesday. The company has a quick ratio of 2.67, a current ratio of 2.92 and a debt-to-equity ratio of 0.46. Arcutis Biotherapeutics, Inc. has a 52-week low of $15.10 and a 52-week high of $31.77. The stock's fifty day simple moving average is $26.76 and its 200-day simple moving average is $24.67. The company has a market capitalization of $3.11 billion, a P/E ratio of 118.01 and a beta of 1.49.
Arcutis Biotherapeutics (NASDAQ:ARQT - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.11 EPS for the quarter, beating analysts' consensus estimates of $0.06 by $0.05. The business had revenue of $129.86 million for the quarter, compared to analyst estimates of $118.85 million. Arcutis Biotherapeutics had a return on equity of 15.05% and a net margin of 6.15%. As a group, equities research analysts forecast that Arcutis Biotherapeutics, Inc. will post 0.4 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
A number of research firms have recently weighed in on ARQT. Guggenheim boosted their price objective on shares of Arcutis Biotherapeutics from $35.00 to $38.00 and gave the company a "buy" rating in a research report on Thursday, August 6th. Wall Street Zen raised shares of Arcutis Biotherapeutics from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 8th. Morgan Stanley boosted their price target on Arcutis Biotherapeutics from $34.00 to $38.00 and gave the company an "overweight" rating in a report on Thursday, August 6th. Needham & Company LLC increased their price target on Arcutis Biotherapeutics from $36.00 to $40.00 and gave the stock a "buy" rating in a research note on Thursday, August 6th. Finally, Weiss Ratings upgraded Arcutis Biotherapeutics from a "hold (c-)" rating to a "hold (c)" rating in a report on Thursday. Six research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $35.57.
Get Our Latest Report on ARQT
Institutional Inflows and Outflows
Several large investors have recently modified their holdings of the stock. AQR Capital Management LLC boosted its position in shares of Arcutis Biotherapeutics by 21.4% in the first quarter. AQR Capital Management LLC now owns 248,196 shares of the company's stock worth $3,882,000 after acquiring an additional 43,716 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Arcutis Biotherapeutics by 3.0% in 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 purchasing an additional 2,063 shares during the period. Creative Planning increased its position in Arcutis Biotherapeutics by 8.2% during the second quarter. Creative Planning now owns 19,575 shares of the company's stock worth $274,000 after purchasing an additional 1,477 shares during the last quarter. JPMorgan Chase & Co. increased its position in Arcutis Biotherapeutics by 1.0% during the second quarter. JPMorgan Chase & Co. now owns 548,789 shares of the company's stock worth $7,694,000 after purchasing an additional 5,407 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its position in Arcutis Biotherapeutics by 4,562.5% during the second quarter. Russell Investments Group Ltd. now owns 11,190 shares of the company's stock worth $157,000 after purchasing an additional 10,950 shares during the last quarter.
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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