What is HC Wainwright’s Forecast for ARQT FY2024 Earnings?

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) – HC Wainwright issued their FY2024 earnings estimates for shares of Arcutis Biotherapeutics in a report issued on Monday, December 30th. HC Wainwright analyst D. Tsao anticipates that the company will earn ($1.41) per share for the year. HC Wainwright has a “Buy” rating and a $19.00 price objective on the stock. The consensus estimate for Arcutis Biotherapeutics’ current full-year earnings is ($1.34) per share. HC Wainwright also issued estimates for Arcutis Biotherapeutics’ Q4 2024 earnings at ($0.33) EPS, Q1 2025 earnings at ($0.30) EPS, Q2 2025 earnings at ($0.27) EPS, Q3 2025 earnings at ($0.25) EPS, Q4 2025 earnings at ($0.30) EPS, FY2025 earnings at ($1.13) EPS, FY2026 earnings at ($0.23) EPS, FY2027 earnings at $0.94 EPS and FY2028 earnings at $1.64 EPS.

Arcutis Biotherapeutics (NASDAQ:ARQT) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($0.33) EPS for the quarter, beating the consensus estimate of ($0.42) by $0.09. Arcutis Biotherapeutics had a negative net margin of 140.97% and a negative return on equity of 119.11%. The business had revenue of $44.76 million for the quarter, compared to analysts’ expectations of $38.05 million.

Separately, Needham & Company LLC reaffirmed a “buy” rating and set a $18.00 price target on shares of Arcutis Biotherapeutics in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $16.20.

Arcutis Biotherapeutics Stock Down 1.9 %

Shares of ARQT opened at $13.93 on Wednesday. The business’s fifty day moving average price is $11.62 and its two-hundred day moving average price is $10.36. The firm has a market capitalization of $1.63 billion, a price-to-earnings ratio of -7.78 and a beta of 1.32. Arcutis Biotherapeutics has a 52 week low of $3.07 and a 52 week high of $15.79. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.38 and a current ratio of 2.46.

Institutional Investors Weigh In On Arcutis Biotherapeutics

Several hedge funds have recently bought and sold shares of ARQT. Point72 DIFC Ltd bought a new stake in shares of Arcutis Biotherapeutics in the 3rd quarter valued at $25,000. Algert Global LLC bought a new stake in shares of Arcutis Biotherapeutics in the second quarter worth about $97,000. Erste Asset Management GmbH acquired a new stake in shares of Arcutis Biotherapeutics during the third quarter worth about $104,000. Victory Capital Management Inc. raised its position in shares of Arcutis Biotherapeutics by 9.9% during the third quarter. Victory Capital Management Inc. now owns 12,843 shares of the company’s stock worth $119,000 after purchasing an additional 1,155 shares during the period. Finally, Creative Planning acquired a new position in shares of Arcutis Biotherapeutics in the 3rd quarter valued at approximately $127,000.

Insiders Place Their Bets

In other Arcutis Biotherapeutics news, insider Todd Franklin Watanabe sold 15,000 shares of the firm’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $15.17, for a total transaction of $227,550.00. Following the transaction, the insider now owns 823,430 shares in the company, valued at approximately $12,491,433.10. This trade represents a 1.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Howard G. Welgus sold 10,000 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $12.51, for a total value of $125,100.00. Following the transaction, the director now owns 161,944 shares of the company’s stock, valued at $2,025,919.44. The trade was a 5.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 68,291 shares of company stock valued at $781,266. Company insiders own 9.50% of the company’s stock.

Arcutis Biotherapeutics Company Profile

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.