Key Points
- Insider sale: Masaru Matsuda sold 9,989 Arcutis Biotherapeutics shares for approximately $250,025 under a pre-arranged Rule 10b5-1 plan, reducing his ownership by 7.92% to 116,182 shares.
- Financial performance: Arcutis reported quarterly EPS of $0.11, exceeding the $0.06 consensus estimate, while revenue of $129.86 million also surpassed expectations.
- Analyst outlook: Several analysts raised their price targets, with the stock carrying a “Moderate Buy” consensus rating and an average target price of $35.57, versus a reported share price of $23.38.
Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT - Get Free Report) insider Masaru Matsuda sold 9,989 shares of the firm's stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $25.03, for a total value of $250,024.67. Following the sale, the insider owned 116,182 shares in the company, valued at approximately $2,908,035.46. The trade was a 7.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Masaru Matsuda also recently made the following trade(s):
- On Monday, August 3rd, Masaru Matsuda sold 1,230 shares of Arcutis Biotherapeutics stock. The stock was sold at an average price of $26.12, for a total value of $32,127.60.
Arcutis Biotherapeutics Stock Down 1.9%
NASDAQ ARQT opened at $23.38 on Friday. The stock has a market cap of $2.94 billion, a PE ratio of 111.34 and a beta of 1.50. Arcutis Biotherapeutics, Inc. has a fifty-two week low of $16.57 and a fifty-two week high of $31.77. The business has a 50 day moving average price of $26.16 and a two-hundred day moving average price of $24.45. 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 (NASDAQ:ARQT - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.11 earnings per share (EPS) for the quarter, beating 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, sell-side analysts predict that Arcutis Biotherapeutics, Inc. will post 0.4 EPS for the current fiscal year.
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in the stock. Focus Partners Wealth increased its position in Arcutis Biotherapeutics by 0.8% in the 3rd quarter. Focus Partners Wealth now owns 65,196 shares of the company's stock valued at $1,237,000 after acquiring an additional 490 shares during the period. Arizona State Retirement System grew its stake in shares of Arcutis Biotherapeutics by 1.7% in the second quarter. Arizona State Retirement System now owns 30,802 shares of the company's stock worth $808,000 after purchasing an additional 521 shares in the last quarter. Schroder Investment Management Group grew its stake in shares of Arcutis Biotherapeutics by 1.1% in the fourth quarter. Schroder Investment Management Group now owns 57,136 shares of the company's stock worth $1,604,000 after purchasing an additional 594 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of 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 purchasing an additional 698 shares during the period. Finally, Entropy Technologies LP increased its holdings in shares of Arcutis Biotherapeutics by 7.0% during the fourth quarter. Entropy Technologies LP now owns 12,144 shares of the company's stock valued at $353,000 after purchasing an additional 792 shares during the period.
Analyst Ratings Changes
A number of equities research analysts recently weighed in on the stock. Guggenheim raised their price target on shares of Arcutis Biotherapeutics from $35.00 to $38.00 and gave the company a "buy" rating in a report on Thursday, August 6th. Weiss Ratings cut shares of Arcutis Biotherapeutics from a "hold (c)" rating to a "hold (c-)" rating in a research report on Tuesday. Needham & Company LLC lifted their target price on Arcutis Biotherapeutics from $36.00 to $40.00 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 research note on Saturday, August 8th. Finally, Morgan Stanley raised their price objective on Arcutis Biotherapeutics from $34.00 to $38.00 and gave the company an "overweight" rating in a research note on Thursday, August 6th. Six equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Arcutis Biotherapeutics currently has an average rating of "Moderate Buy" and a consensus target price of $35.57.
Read Our Latest Stock Report 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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