Key Points
- Insider sale: Masaru Matsuda sold 3,674 Arcutis Biotherapeutics shares at an average price of $25.00, generating $91,850. The transaction was made under a pre-arranged Rule 10b5-1 trading plan and reduced his holdings by 3.16% to 112,508 shares.
- Recent performance: Arcutis reported quarterly EPS of $0.11, exceeding the $0.06 consensus estimate, while revenue of $129.86 million also surpassed expectations. The stock opened at $25.34 and has a 52-week range of $16.57 to $31.77.
- Analyst outlook: Several analysts raised their price targets, with the consensus rating at “Moderate Buy” and an average target of $35.57. Institutional investors including BlackRock and Montanova Capital also hold significant positions in the company.
Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT - Get Free Report) insider Masaru Matsuda sold 3,674 shares of Arcutis Biotherapeutics stock in a transaction that occurred on Wednesday, September 16th. The stock was sold at an average price of $25.00, for a total value of $91,850.00. Following the completion of the transaction, the insider owned 112,508 shares of the company's stock, valued at approximately $2,812,700. This trade represents a 3.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Masaru Matsuda also recently made the following trade(s):
- On Tuesday, September 8th, Masaru Matsuda sold 9,989 shares of Arcutis Biotherapeutics stock. The shares were sold at an average price of $25.03, for a total value of $250,024.67.
- 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 4.2%
NASDAQ ARQT opened at $25.34 on Friday. 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 $16.57 and a 52 week high of $31.77. The firm has a market capitalization of $3.19 billion, a price-to-earnings ratio of 120.69 and a beta of 1.50. The company has a fifty day moving average of $25.86 and a two-hundred day moving average of $24.37.
Arcutis Biotherapeutics (NASDAQ:ARQT - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported $0.11 earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $118.85 million. On average, analysts predict that Arcutis Biotherapeutics, Inc. will post 0.42 earnings per share for the current year.
Analyst Upgrades and Downgrades
Several analysts have issued reports on the stock. Needham & Company LLC raised their price objective on shares of Arcutis Biotherapeutics from $36.00 to $40.00 and gave the stock a "buy" rating in a research note 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. Guggenheim raised their price target on Arcutis Biotherapeutics from $35.00 to $38.00 and gave the stock a "buy" rating in a research note on Thursday, August 6th. Morgan Stanley upped their price objective on Arcutis Biotherapeutics from $34.00 to $38.00 and gave the company an "overweight" rating in a research report on Thursday, August 6th. Finally, Weiss Ratings downgraded Arcutis Biotherapeutics from a "hold (c)" rating to a "hold (c-)" rating in a research report on Tuesday, September 8th. Six investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $35.57.
View Our Latest Stock Analysis on ARQT
Institutional Investors Weigh In On Arcutis Biotherapeutics
Several hedge funds have recently made changes to their positions in ARQT. Montanova Capital LLC increased its stake in shares of Arcutis Biotherapeutics by 0.9% during the second quarter. Montanova Capital LLC now owns 12,437,000 shares of the company's stock valued at $326,098,000 after buying an additional 110,000 shares during the period. BlackRock Inc. purchased a new stake in Arcutis Biotherapeutics in the second quarter worth about $276,502,000. Polar Capital Holdings Plc grew its holdings in Arcutis Biotherapeutics by 4.9% during the 4th quarter. Polar Capital Holdings Plc now owns 5,556,169 shares of the company's stock worth $161,351,000 after acquiring an additional 257,415 shares in the last quarter. Geode Capital Management LLC grew its holdings in Arcutis Biotherapeutics by 5.6% during the 4th quarter. Geode Capital Management LLC now owns 2,753,307 shares of the company's stock worth $79,967,000 after acquiring an additional 146,842 shares in the last quarter. Finally, Bank of America Corp DE purchased a new position in Arcutis Biotherapeutics during the 2nd quarter valued at about $78,330,000.
About Arcutis Biotherapeutics
(
Get Free Report)
Arcutis Biotherapeutics, Inc is a biopharmaceutical company focused on developing and commercializing treatments for immune-mediated dermatological conditions. The company's research and development activities are centered on therapies intended to address significant unmet needs in inflammatory skin diseases.
Arcutis's primary commercial product is ZORYVE (roflumilast), a topical, nonsteroidal phosphodiesterase-4 inhibitor. The product is available in multiple formulations and strengths for certain patients with plaque psoriasis, seborrheic dermatitis and atopic dermatitis.
Recommended Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
