Arcutis Biotherapeutics (NASDAQ:ARQT – Get Free Report) posted its quarterly earnings results on Wednesday. The company reported ($0.33) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.42) by $0.09, Zacks reports. Arcutis Biotherapeutics had a negative net margin of 150.51% and a negative return on equity of 145.41%. The business had revenue of $44.76 million during the quarter, compared to the consensus estimate of $38.05 million.
Arcutis Biotherapeutics Stock Up 4.0 %
NASDAQ:ARQT traded up $0.42 on Friday, hitting $10.82. The stock had a trading volume of 4,257,442 shares, compared to its average volume of 3,267,758. Arcutis Biotherapeutics has a 1 year low of $1.76 and a 1 year high of $13.17. The firm’s fifty day simple moving average is $9.67 and its two-hundred day simple moving average is $9.31. The company has a debt-to-equity ratio of 1.09, a quick ratio of 8.19 and a current ratio of 8.46. The stock has a market cap of $1.26 billion, a P/E ratio of -4.94 and a beta of 1.18.
Analysts Set New Price Targets
Several equities analysts recently weighed in on ARQT shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $18.00 price target on shares of Arcutis Biotherapeutics in a research report on Thursday. Jefferies Financial Group began coverage on Arcutis Biotherapeutics in a research report on Wednesday, August 28th. They set a “buy” rating and a $15.00 target price on the stock. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $14.40.
Insider Transactions at Arcutis Biotherapeutics
In related news, Director Howard G. Welgus sold 10,000 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $8.65, for a total transaction of $86,500.00. Following the completion of the sale, the director now directly owns 171,944 shares of the company’s stock, valued at approximately $1,487,315.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Howard G. Welgus sold 10,000 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $8.65, for a total transaction of $86,500.00. Following the completion of the transaction, the director now owns 171,944 shares in the company, valued at approximately $1,487,315.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO David Joseph Topper sold 11,626 shares of Arcutis Biotherapeutics stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $9.48, for a total transaction of $110,214.48. Following the completion of the sale, the chief financial officer now directly owns 158,374 shares in the company, valued at approximately $1,501,385.52. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 52,094 shares of company stock worth $492,157 in the last 90 days. Insiders own 9.50% of the company’s stock.
About Arcutis Biotherapeutics
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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