Arcutis Biotherapeutics (NASDAQ:ARQT) Shares Down 3.8%

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQTGet Free Report)’s stock price fell 3.8% during trading on Thursday . The company traded as low as $7.67 and last traded at $7.67. 111,609 shares traded hands during trading, a decline of 97% from the average session volume of 4,192,866 shares. The stock had previously closed at $7.97.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ARQT. The Goldman Sachs Group lifted their price target on shares of Arcutis Biotherapeutics from $6.00 to $11.00 and gave the stock a “neutral” rating in a report on Wednesday, February 28th. Needham & Company LLC lifted their price target on shares of Arcutis Biotherapeutics from $16.00 to $18.00 and gave the stock a “buy” rating in a report on Wednesday, May 15th. Finally, Mizuho lifted their price target on shares of Arcutis Biotherapeutics from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Wednesday, May 15th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Arcutis Biotherapeutics has a consensus rating of “Moderate Buy” and an average target price of $25.38.

Check Out Our Latest Research Report on Arcutis Biotherapeutics

Arcutis Biotherapeutics Trading Down 4.7 %

The firm has a market cap of $838.10 million, a price-to-earnings ratio of -2.50 and a beta of 1.17. 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’s fifty day moving average is $9.22 and its 200-day moving average is $6.96.

Arcutis Biotherapeutics (NASDAQ:ARQTGet Free Report) last released its earnings results on Tuesday, May 14th. The company reported ($0.32) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.60) by $0.28. Arcutis Biotherapeutics had a negative net margin of 204.35% and a negative return on equity of 197.28%. The business had revenue of $49.57 million for the quarter. During the same quarter in the previous year, the firm earned ($1.31) EPS. Equities analysts anticipate that Arcutis Biotherapeutics, Inc. will post -1.6 earnings per share for the current year.

Insider Activity

In other news, insider Patrick Burnett sold 23,000 shares of the company’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $8.75, for a total transaction of $201,250.00. Following the transaction, the insider now owns 209,793 shares in the company, valued at $1,835,688.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Larry Todd Edwards sold 7,640 shares of the company’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $8.98, for a total transaction 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Patrick Burnett sold 23,000 shares of the business’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $8.75, for a total transaction of $201,250.00. Following the sale, the insider now directly owns 209,793 shares of the company’s stock, valued at $1,835,688.75. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 32,415 shares of company stock worth $285,850. Company insiders own 9.50% of the company’s stock.

Institutional Investors Weigh In On Arcutis Biotherapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in ARQT. Price T Rowe Associates Inc. MD grew its position in Arcutis Biotherapeutics by 3.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 47,753 shares of the company’s stock worth $474,000 after purchasing an additional 1,681 shares in the last quarter. ProShare Advisors LLC grew its position in Arcutis Biotherapeutics by 9.8% in the 1st quarter. ProShare Advisors LLC now owns 20,990 shares of the company’s stock worth $208,000 after purchasing an additional 1,870 shares in the last quarter. Ameritas Investment Partners Inc. grew its position in Arcutis Biotherapeutics by 55.2% in the 1st quarter. Ameritas Investment Partners Inc. now owns 7,871 shares of the company’s stock worth $78,000 after purchasing an additional 2,800 shares in the last quarter. Amalgamated Bank grew its position in Arcutis Biotherapeutics by 48.9% in the 4th quarter. Amalgamated Bank now owns 11,078 shares of the company’s stock worth $36,000 after purchasing an additional 3,639 shares in the last quarter. Finally, Deutsche Bank AG grew its position in Arcutis Biotherapeutics by 13.7% in the 3rd quarter. Deutsche Bank AG now owns 30,362 shares of the company’s stock worth $161,000 after purchasing an additional 3,655 shares in the last quarter.

Arcutis Biotherapeutics Company Profile

(Get Free Report)

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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