Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT – Get Free Report) Director Howard Welgus sold 4,096 shares of Arcutis Biotherapeutics stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $24.41, for a total transaction of $99,983.36. Following the completion of the transaction, the director directly owned 38,378 shares in the company, valued at approximately $936,806.98. This represents a 9.64% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Arcutis Biotherapeutics Price Performance
ARQT opened at $26.21 on Friday. The company has a current ratio of 2.68, a quick ratio of 2.46 and a debt-to-equity ratio of 0.54. Arcutis Biotherapeutics, Inc. has a 1-year low of $13.06 and a 1-year high of $31.77. The business has a 50 day moving average of $22.77 and a 200-day moving average of $25.13. The stock has a market capitalization of $3.28 billion, a price-to-earnings ratio of -873.38 and a beta of 1.51.
Arcutis Biotherapeutics (NASDAQ:ARQT – Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.07). Arcutis Biotherapeutics had a negative return on equity of 1.41% and a negative net margin of 0.57%.The firm had revenue of $105.40 million for the quarter, compared to analyst estimates of $103.67 million. As a group, sell-side analysts anticipate that Arcutis Biotherapeutics, Inc. will post 0.15 earnings per share for the current year.
Institutional Investors Weigh In On Arcutis Biotherapeutics
Analyst Upgrades and Downgrades
Several equities research analysts have recently commented on the company. Wall Street Zen cut Arcutis Biotherapeutics from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. HC Wainwright boosted their price objective on shares of Arcutis Biotherapeutics from $30.00 to $34.00 and gave the company a “buy” rating in a report on Thursday, February 26th. Mizuho lowered their price target on Arcutis Biotherapeutics from $37.00 to $35.00 and set an “outperform” rating for the company in a report on Monday, March 2nd. Weiss Ratings reissued a “sell (d-)” rating on shares of Arcutis Biotherapeutics in a research report on Friday, March 27th. Finally, TD Cowen increased their price objective on Arcutis Biotherapeutics from $30.00 to $35.00 and gave the stock a “buy” rating in a report on Thursday, February 26th. Five equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $34.00.
Read Our Latest Stock Analysis on Arcutis Biotherapeutics
About Arcutis Biotherapeutics
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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