Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Expected to Announce Earnings of -$1.36 Per Share

Equities research analysts expect Arcutis Biotherapeutics, Inc. (NASDAQ:ARQTGet Rating) to announce earnings of ($1.36) per share for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have provided estimates for Arcutis Biotherapeutics’ earnings, with estimates ranging from ($1.38) to ($1.34). Arcutis Biotherapeutics posted earnings per share of ($0.84) in the same quarter last year, which suggests a negative year over year growth rate of 61.9%. The company is scheduled to announce its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that Arcutis Biotherapeutics will report full year earnings of ($5.74) per share for the current year, with EPS estimates ranging from ($6.21) to ($5.49). For the next year, analysts anticipate that the company will post earnings of ($4.08) per share, with EPS estimates ranging from ($5.08) to ($3.22). Zacks’ EPS averages are a mean average based on a survey of analysts that that provide coverage for Arcutis Biotherapeutics.

Arcutis Biotherapeutics (NASDAQ:ARQTGet Rating) last issued its earnings results on Thursday, May 5th. The company reported ($1.27) EPS for the quarter, beating the consensus estimate of ($1.50) by $0.23.

Several equities research analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of Arcutis Biotherapeutics from a “hold” rating to a “sell” rating in a research report on Thursday, May 12th. Cantor Fitzgerald reissued an “overweight” rating on shares of Arcutis Biotherapeutics in a research report on Wednesday, February 23rd. Mizuho lowered their price objective on shares of Arcutis Biotherapeutics from $58.00 to $57.00 and set a “buy” rating for the company in a research report on Thursday, April 7th. The Goldman Sachs Group assumed coverage on shares of Arcutis Biotherapeutics in a research report on Thursday, March 17th. They set a “buy” rating and a $45.00 price objective for the company. Finally, Morgan Stanley increased their price objective on shares of Arcutis Biotherapeutics from $35.00 to $37.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 2nd. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $41.50.

In other Arcutis Biotherapeutics news, Director Howard G. Welgus sold 7,500 shares of the stock in a transaction on Friday, April 1st. The shares were sold at an average price of $20.02, for a total value of $150,150.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Todd Franklin Watanabe sold 2,489 shares of the stock in a transaction on Friday, March 4th. The shares were sold at an average price of $16.86, for a total transaction of $41,964.54. The disclosure for this sale can be found here. Insiders have sold 553,267 shares of company stock valued at $11,424,366 in the last 90 days. 39.00% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Frazier Life Sciences Management L.P. acquired a new stake in shares of Arcutis Biotherapeutics during the 1st quarter worth about $162,443,000. BlackRock Inc. lifted its stake in shares of Arcutis Biotherapeutics by 2.8% during the 4th quarter. BlackRock Inc. now owns 4,313,864 shares of the company’s stock worth $89,471,000 after buying an additional 117,938 shares during the last quarter. Point72 Asset Management L.P. lifted its stake in shares of Arcutis Biotherapeutics by 32.7% during the 4th quarter. Point72 Asset Management L.P. now owns 2,644,177 shares of the company’s stock worth $54,840,000 after buying an additional 652,070 shares during the last quarter. Vanguard Group Inc. increased its position in Arcutis Biotherapeutics by 1.1% during the first quarter. Vanguard Group Inc. now owns 1,531,098 shares of the company’s stock worth $29,489,000 after acquiring an additional 16,770 shares during the period. Finally, State Street Corp increased its position in Arcutis Biotherapeutics by 6.2% during the first quarter. State Street Corp now owns 1,189,500 shares of the company’s stock worth $22,910,000 after acquiring an additional 69,194 shares during the period. Institutional investors own 87.59% of the company’s stock.

NASDAQ:ARQT traded up $0.88 during trading hours on Tuesday, hitting $22.20. The stock had a trading volume of 659,292 shares, compared to its average volume of 267,381. Arcutis Biotherapeutics has a one year low of $13.59 and a one year high of $29.37. The company has a debt-to-equity ratio of 0.29, a quick ratio of 12.09 and a current ratio of 10.89. The company has a market cap of $1.14 billion, a price-to-earnings ratio of -4.75 and a beta of 0.28. The business’s 50 day moving average is $19.61 and its 200-day moving average is $18.15.

About Arcutis Biotherapeutics (Get Rating)

Arcutis Biotherapeutics, Inc, a biopharmaceutical company, focuses on developing and commercializing treatments for dermatological diseases. Its lead product candidate is ARQ-151, a topical roflumilast cream that has completed Phase III clinical trials for the treatment of plaque psoriasis and atopic dermatitis.

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Earnings History and Estimates for Arcutis Biotherapeutics (NASDAQ:ARQT)

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