Arcutis Biotherapeutics (NASDAQ:ARQT) Issues Earnings Results

Arcutis Biotherapeutics (NASDAQ:ARQT) released its quarterly earnings results on Tuesday. The company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.28) by $0.19, Zacks reports. The firm had revenue of $71.36 million during the quarter, compared to the consensus estimate of $60.52 million. Arcutis Biotherapeutics had a negative net margin of 140.97% and a negative return on equity of 119.11%.

Arcutis Biotherapeutics Price Performance

ARQT traded down $0.03 during trading on Thursday, reaching $13.19. 235,340 shares of the company were exchanged, compared to its average volume of 2,146,418. The company has a quick ratio of 2.38, a current ratio of 2.46 and a debt-to-equity ratio of 0.67. The company has a market cap of $1.54 billion, a price-to-earnings ratio of -7.30 and a beta of 1.29. Arcutis Biotherapeutics has a 12-month low of $6.99 and a 12-month high of $16.20. The company’s 50-day moving average is $13.58 and its two-hundred day moving average is $11.42.

Analyst Ratings Changes

ARQT has been the topic of several recent research reports. Mizuho lifted their target price on Arcutis Biotherapeutics from $20.00 to $21.00 and gave the stock an “outperform” rating in a report on Wednesday. Needham & Company LLC reiterated a “buy” rating and issued a $20.00 target price on shares of Arcutis Biotherapeutics in a report on Wednesday. Guggenheim restated a “buy” rating on shares of Arcutis Biotherapeutics in a report on Monday. Finally, HC Wainwright reiterated a “buy” rating and set a $19.00 target price on shares of Arcutis Biotherapeutics in a research report on Wednesday. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $17.20.

Insider Buying and Selling

In other news, Director Howard G. Welgus sold 10,000 shares of the company’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $12.71, for a total value of $127,100.00. Following the completion of the transaction, the director now directly owns 141,944 shares in the company, valued at approximately $1,804,108.24. This represents a 6.58 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Masaru Matsuda sold 8,338 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $12.70, for a total transaction of $105,892.60. Following the completion of the sale, the insider now directly owns 178,692 shares of the company’s stock, valued at $2,269,388.40. This trade represents a 4.46 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 55,029 shares of company stock valued at $756,017. Company 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.