Arcutis Biotherapeutics (NASDAQ:ARQT) Posts Quarterly Earnings Results, Beats Estimates By $0.06 EPS

Arcutis Biotherapeutics (NASDAQ:ARQT) released its earnings results on Wednesday. The company reported ($0.42) EPS for the quarter, beating the consensus estimate of ($0.48) by $0.06, Zacks reports. The business had revenue of $30.86 million during the quarter, compared to analyst estimates of $31.00 million. Arcutis Biotherapeutics had a negative net margin of 204.35% and a negative return on equity of 197.28%. During the same period in the prior year, the business earned ($1.16) earnings per share.

Arcutis Biotherapeutics Stock Down 11.3 %

Arcutis Biotherapeutics stock traded down $1.08 during trading hours on Thursday, hitting $8.50. The company had a trading volume of 6,848,602 shares, compared to its average volume of 3,738,651. Arcutis Biotherapeutics has a fifty-two week low of $1.76 and a fifty-two week high of $13.17. The company has a debt-to-equity ratio of 0.90, a current ratio of 9.89 and a quick ratio of 9.61. The firm has a market capitalization of $983.99 million, a P/E ratio of -2.90 and a beta of 1.18. The firm’s fifty day moving average is $9.35 and its 200-day moving average is $9.20.

Wall Street Analyst Weigh In

Several research analysts have issued reports on ARQT shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $18.00 price target on shares of Arcutis Biotherapeutics in a report on Thursday. Mizuho boosted their target price on Arcutis Biotherapeutics from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Wednesday, May 15th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $19.17.

Insider Buying and Selling at Arcutis Biotherapeutics

In other Arcutis Biotherapeutics news, SVP Larry Todd Edwards sold 7,640 shares of the business’s stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $8.98, for a total value of $68,607.20. Following the transaction, the senior vice president now owns 140,360 shares in the company, valued at $1,260,432.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Patrick Burnett sold 23,000 shares of Arcutis Biotherapeutics stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $8.75, for a total value of $201,250.00. Following the completion of the sale, the insider now owns 209,793 shares of the company’s stock, valued at approximately $1,835,688.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Larry Todd Edwards sold 7,640 shares of the company’s stock in a transaction on Friday, May 17th. The stock was sold at an average price of $8.98, for a total transaction of $68,607.20. Following the completion of the sale, the senior vice president now owns 140,360 shares of the company’s stock, valued at $1,260,432.80. The disclosure for this sale can be found here. Insiders sold 57,635 shares of company stock valued at $524,734 in the last quarter. Company insiders own 9.50% of the company’s stock.

Arcutis Biotherapeutics Company Profile

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.