Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT – Get Free Report) Director Howard Welgus sold 4,730 shares of the business’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $26.18, for a total value of $123,831.40. Following the completion of the sale, the director owned 36,475 shares in the company, valued at $954,915.50. This represents a 11.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Arcutis Biotherapeutics Price Performance
Shares of NASDAQ:ARQT opened at $25.08 on Friday. The firm has a market capitalization of $3.15 billion, a PE ratio of 119.43 and a beta of 1.49. The company has a quick ratio of 2.67, a current ratio of 2.92 and a debt-to-equity ratio of 0.46. The company has a 50-day moving average price of $26.77 and a two-hundred day moving average price of $24.69. Arcutis Biotherapeutics, Inc. has a twelve month low of $15.10 and a twelve month high of $31.77.
Arcutis Biotherapeutics (NASDAQ:ARQT – Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.05. The company had revenue of $129.86 million for the quarter, compared to analysts’ expectations of $118.85 million. Arcutis Biotherapeutics had a net margin of 6.15% and a return on equity of 15.05%. Equities analysts forecast that Arcutis Biotherapeutics, Inc. will post 0.4 EPS for the current year.
Institutional Inflows and Outflows
Analyst Upgrades and Downgrades
Several equities analysts recently commented on the stock. Weiss Ratings raised shares of Arcutis Biotherapeutics from a “sell (d-)” rating to a “hold (c-)” rating in a research note on Thursday, August 6th. Guggenheim increased their target price on shares of 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 raised their price target on shares of Arcutis Biotherapeutics from $34.00 to $38.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. Needham & Company LLC lifted their price objective on Arcutis Biotherapeutics from $36.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Finally, Wall Street Zen raised shares of Arcutis Biotherapeutics from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 8th. Six investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Arcutis Biotherapeutics has a consensus rating of “Moderate Buy” and an average target price of $35.57.
Get Our Latest Analysis on ARQT
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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