Key Points
- Director Howard Welgus sold 4,728 Arcutis shares at an average price of $26.93, generating $127,325.04. The Rule 10b5-1 transaction reduced his ownership by 11.84% to 35,207 shares.
- Arcutis shares were trading at $31.89, up 10.7%, with a market capitalization of approximately $4.01 billion. The company exceeded quarterly expectations, reporting $0.11 in EPS and $129.86 million in revenue.
- Analyst sentiment remains positive, with eight Buy ratings and three Holds, producing a “Moderate Buy” consensus and an average price target of $38.00; recent targets range as high as $48.00.
Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT - Get Free Report) Director Howard Welgus sold 4,728 shares of the stock in a transaction dated Thursday, October 15th. The stock was sold at an average price of $26.93, for a total value of $127,325.04. Following the completion of the sale, the director owned 35,207 shares of the company's stock, valued at $948,124.51. This trade represents a 11.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Arcutis Biotherapeutics Trading Up 10.7%
NASDAQ:ARQT opened at $31.89 on Tuesday. Arcutis Biotherapeutics, Inc. has a fifty-two week low of $19.30 and a fifty-two week high of $33.01. 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 stock has a market capitalization of $4.01 billion, a PE ratio of 151.86 and a beta of 1.57. The business's 50-day simple moving average is $25.57 and its 200-day simple moving average is $24.89.
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. Arcutis Biotherapeutics had a return on equity of 15.05% and a net margin of 6.15%. The business had revenue of $129.86 million during the quarter, compared to analyst estimates of $118.85 million. Sell-side analysts expect that Arcutis Biotherapeutics, Inc. will post 0.43 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
ARQT has been the topic of a number of research reports. Weiss Ratings lowered shares of Arcutis Biotherapeutics from a "hold (c)" rating to a "hold (c-)" rating in a research note on Wednesday, October 14th. Morgan Stanley increased their price objective 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. Guggenheim increased their price objective on shares of Arcutis Biotherapeutics from $38.00 to $44.00 and gave the stock a "buy" rating in a research report on Monday. Cantor Fitzgerald began coverage on shares of Arcutis Biotherapeutics in a report on Thursday, October 15th. They set an "overweight" rating and a $48.00 price objective on the stock. Finally, Jefferies Financial Group reaffirmed a "buy" rating and issued a $39.00 price objective on shares of Arcutis Biotherapeutics in a research report on Thursday, October 8th. Eight investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $38.00.
Read Our Latest Stock Report on ARQT
Institutional Trading of Arcutis Biotherapeutics
A number of institutional investors have recently modified their holdings of ARQT. Montanova Capital LLC boosted its position 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 worth $326,098,000 after buying an additional 110,000 shares during the period. BlackRock Inc. acquired a new stake in Arcutis Biotherapeutics in the 2nd quarter valued at approximately $276,502,000. Bank of America Corp DE acquired a new stake in Arcutis Biotherapeutics in the 2nd quarter valued at approximately $78,330,000. Janus Henderson Group PLC raised its position in Arcutis Biotherapeutics by 1.3% in the 1st quarter. Janus Henderson Group PLC now owns 1,854,566 shares of the company's stock valued at $43,684,000 after buying an additional 24,505 shares during the last quarter. Finally, Jupiter Topco LLC bought a new stake in Arcutis Biotherapeutics in the 2nd quarter valued at approximately $36,989,000.
Arcutis Biotherapeutics Company Profile
(
Get Free Report)
Arcutis Biotherapeutics, Inc (NASDAQ: ARQT) is a biopharmaceutical company focused on developing and commercializing treatments for dermatologic conditions. The company concentrates on medical dermatology, with an emphasis on addressing diseases that can significantly affect patients' quality of life and for which additional treatment options are needed.
Arcutis's primary commercial product is ZORYVE (roflumilast), a topical phosphodiesterase-4 inhibitor available in multiple formulations.
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