Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT - Get Free Report) Director Terrie Curran sold 38,200 shares of the company's stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $25.03, for a total value of $956,146.00. Following the sale, the director directly owned 23,526 shares of the company's stock, valued at approximately $588,855.78. This represents a 61.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
Terrie Curran also recently made the following trade(s):
- On Thursday, August 20th, Terrie Curran sold 1,072 shares of Arcutis Biotherapeutics stock. The stock was sold at an average price of $26.04, for a total value of $27,914.88.
Arcutis Biotherapeutics Stock Down 4.4%
ARQT stock opened at $23.78 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.92 and a quick ratio of 2.67. The firm has a market capitalization of $2.99 billion, a P/E ratio of 113.24 and a beta of 1.49. Arcutis Biotherapeutics, Inc. has a 52-week low of $15.10 and a 52-week high of $31.77. The company's 50 day simple moving average is $26.64 and its 200-day simple moving average is $24.63.
Arcutis Biotherapeutics (NASDAQ:ARQT - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.05. Arcutis Biotherapeutics had a net margin of 6.15% and a return on equity of 15.05%. The firm had revenue of $129.86 million for the quarter, compared to analysts' expectations of $118.85 million. As a group, equities research analysts anticipate that Arcutis Biotherapeutics, Inc. will post 0.4 EPS for the current year.
Analysts Set New Price Targets
A number of equities research analysts have commented on ARQT shares. Guggenheim raised their price objective on Arcutis Biotherapeutics from $35.00 to $38.00 and gave the stock a "buy" rating in a research report on Thursday, August 6th. Wall Street Zen upgraded Arcutis Biotherapeutics from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 8th. Morgan Stanley increased their price target on shares of Arcutis Biotherapeutics from $34.00 to $38.00 and gave the stock an "overweight" rating in a research report on Thursday, August 6th. Weiss Ratings upgraded shares of Arcutis Biotherapeutics from a "hold (c-)" rating to a "hold (c)" rating in a report on Thursday, August 20th. Finally, Needham & Company LLC boosted their price objective on shares of Arcutis Biotherapeutics from $36.00 to $40.00 and gave the company a "buy" rating in a research report on Thursday, August 6th. Six research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $35.57.
View Our Latest Research Report on ARQT
Institutional Investors Weigh In On Arcutis Biotherapeutics
A number of hedge funds and other institutional investors have recently made changes to their positions in ARQT. SBI Securities Co. Ltd. lifted its holdings in shares of 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 during the last quarter. Global Retirement Partners LLC acquired a new position in Arcutis Biotherapeutics in the fourth quarter worth approximately $35,000. EverSource Wealth Advisors LLC raised its position 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 lifted its stake in Arcutis Biotherapeutics by 209.0% in the fourth quarter. NewEdge Advisors LLC now owns 1,545 shares of the company's stock valued at $45,000 after acquiring an additional 1,045 shares during the last quarter. Finally, Nykredit A S acquired a new stake in Arcutis Biotherapeutics in the second quarter valued at approximately $63,000.
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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