-$1.36 Earnings Per Share Expected for Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) This Quarter

Equities research analysts expect that Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT – Get Rating) will post ($1.36) earnings per share for the current quarter, according to Zacks Investment Research. Zero analysts have issued estimates for Arcutis Biotherapeutics’ earnings, with estimates ranging from ($1.38) to ($1.34). Arcutis Biotherapeutics posted earnings per share of ($0.84) in the same quarter last year, which would suggest a negative year-over-year growth rate of 61.9%. The company is scheduled to announce its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that Arcutis Biotherapeutics will report full year earnings of ($5.74) per share for the current fiscal year, with EPS estimates ranging from ($6.21) to ($5.49). For the next year, analysts expect that the firm will post earnings of ($4.08) per share, with EPS estimates ranging from ($5.08) to ($3.22). Zacks’ earnings per share averages are an average based on a survey of research firms that follow Arcutis Biotherapeutics.

Arcutis Biotherapeutics (NASDAQ:ARQT – Get Rating) last announced its quarterly earnings results on Thursday, May 5th. The company reported ($1.27) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.50) by $0.23.

ARQT has been the topic of several recent research reports. Mizuho reduced their price target on shares of Arcutis Biotherapeutics from $58.00 to $57.00 and set a “buy” rating on the stock in a report on Thursday, April 7th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arcutis Biotherapeutics in a research note on Wednesday, February 23rd. Zacks Investment Research cut Arcutis Biotherapeutics from a “hold” rating to a “sell” rating in a report on Thursday, May 12th. The Goldman Sachs Group began coverage on Arcutis Biotherapeutics in a research report on Thursday, March 17th. They issued a “buy” rating and a $45.00 price objective on the stock. Finally, Morgan Stanley lifted their price objective on Arcutis Biotherapeutics from $35.00 to $37.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 2nd. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Arcutis Biotherapeutics currently has a consensus rating of “Buy” and an average target price of $41.50.

NASDAQ ARQT traded up $0.53 during trading hours on Tuesday, reaching $18.78. The company’s stock had a trading volume of 2,111 shares, compared to its average volume of 253,259. The company has a debt-to-equity ratio of 0.24, a quick ratio of 12.09 and a current ratio of 12.09. The company’s 50-day moving average is $19.14 and its two-hundred day moving average is $18.21. Arcutis Biotherapeutics has a fifty-two week low of $13.59 and a fifty-two week high of $29.37. The stock has a market cap of $965.67 million, a PE ratio of -4.04 and a beta of 0.28.

In other news, CEO Todd Franklin Watanabe sold 2,489 shares of the business’s stock in a transaction on Friday, March 4th. The shares were sold at an average price of $16.86, for a total transaction of $41,964.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Howard G. Welgus sold 7,500 shares of the company’s stock in a transaction on Friday, April 1st. The stock was sold at an average price of $20.02, for a total value of $150,150.00. The disclosure for this sale can be found here. Insiders sold a total of 553,267 shares of company stock valued at $11,424,366 over the last quarter. 39.00% of the stock is currently owned by insiders.

A number of hedge funds have recently made changes to their positions in ARQT. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Arcutis Biotherapeutics during the 1st quarter worth approximately $29,000. Royal Bank of Canada lifted its position in shares of Arcutis Biotherapeutics by 59.8% during the second quarter. Royal Bank of Canada now owns 2,053 shares of the company’s stock worth $56,000 after purchasing an additional 768 shares in the last quarter. Denali Advisors LLC acquired a new stake in Arcutis Biotherapeutics during the 4th quarter valued at $77,000. Thrivent Financial for Lutherans purchased a new stake in Arcutis Biotherapeutics during the 3rd quarter worth $248,000. Finally, Guggenheim Capital LLC acquired a new position in Arcutis Biotherapeutics in the 4th quarter worth $222,000. 87.59% of the stock is currently owned by hedge funds and other institutional investors.

About Arcutis Biotherapeutics (Get Rating)

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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