Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Insider Todd Franklin Watanabe Sells 1,500 Shares

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) insider Todd Franklin Watanabe sold 1,500 shares of Arcutis Biotherapeutics stock in a transaction on Monday, March 24th. The stock was sold at an average price of $17.52, for a total value of $26,280.00. Following the sale, the insider now directly owns 927,414 shares of the company’s stock, valued at approximately $16,248,293.28. This trade represents a 0.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Todd Franklin Watanabe also recently made the following trade(s):

• On Monday, March 17th, Todd Franklin Watanabe sold 1,200 shares of Arcutis Biotherapeutics stock. The stock was sold at an average price of $17.61, for a total value of $21,132.00.

Arcutis Biotherapeutics Stock Down 3.7 %

Shares of ARQT stock traded down $0.64 during trading hours on Wednesday, hitting $16.47. 1,557,253 shares of the company were exchanged, compared to its average volume of 2,384,729. Arcutis Biotherapeutics, Inc. has a 52 week low of $6.99 and a 52 week high of $17.75. The company has a current ratio of 2.46, a quick ratio of 2.38 and a debt-to-equity ratio of 0.67. The business has a 50 day moving average of $13.87 and a two-hundred day moving average of $12.18. The company has a market capitalization of $1.95 billion, a PE ratio of -9.20 and a beta of 1.48.

Arcutis Biotherapeutics (NASDAQ:ARQT) last released its earnings results on Tuesday, February 25th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.19. The firm had revenue of $71.36 million during the quarter, compared to analysts’ expectations of $60.52 million. Arcutis Biotherapeutics had a negative return on equity of 119.11% and a negative net margin of 140.97%. Analysts anticipate that Arcutis Biotherapeutics, Inc. will post -1.33 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Arcutis Biotherapeutics

Institutional investors have recently bought and sold shares of the company. Point72 DIFC Ltd bought a new position in shares of Arcutis Biotherapeutics during the 3rd quarter worth approximately $25,000. GF Fund Management CO. LTD. acquired a new position in Arcutis Biotherapeutics during the fourth quarter worth $34,000. Venturi Wealth Management LLC bought a new position in Arcutis Biotherapeutics in the fourth quarter valued at $46,000. Erste Asset Management GmbH acquired a new stake in Arcutis Biotherapeutics in the 3rd quarter valued at $104,000. Finally, Victory Capital Management Inc. lifted its position in Arcutis Biotherapeutics by 9.9% during the 3rd quarter. Victory Capital Management Inc. now owns 12,843 shares of the company’s stock worth $119,000 after buying an additional 1,155 shares in the last quarter.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Guggenheim reiterated a “buy” rating on shares of Arcutis Biotherapeutics in a research report on Monday, February 24th. The Goldman Sachs Group increased their target price on shares of Arcutis Biotherapeutics from $13.00 to $15.00 and gave the stock a “neutral” rating in a report on Thursday, February 27th. Mizuho boosted their price target on shares of Arcutis Biotherapeutics from $20.00 to $21.00 and gave the company an “outperform” rating in a report on Wednesday, February 26th. HC Wainwright reaffirmed a “buy” rating and set a $19.00 price objective on shares of Arcutis Biotherapeutics in a research note on Wednesday, February 26th. Finally, Jefferies Financial Group lifted their target price on Arcutis Biotherapeutics from $16.00 to $19.00 and gave the stock a “buy” rating in a report on Tuesday, March 11th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Arcutis Biotherapeutics has an average rating of “Moderate Buy” and an average price target of $18.80.

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.