Arcutis Biotherapeutics (NASDAQ:ARQT) Issues Quarterly Earnings Results

Arcutis Biotherapeutics (NASDAQ:ARQT) issued its earnings results on Tuesday. The company reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.19, Zacks reports. Arcutis Biotherapeutics had a negative net margin of 140.97% and a negative return on equity of 119.11%.

Arcutis Biotherapeutics Stock Down 1.5 %

Shares of NASDAQ ARQT traded down $0.19 during mid-day trading on Tuesday, reaching $12.20. 2,627,617 shares of the company were exchanged, compared to its average volume of 2,128,617. Arcutis Biotherapeutics has a 1 year low of $6.99 and a 1 year high of $16.20. The firm has a 50-day moving average of $13.64 and a 200 day moving average of $11.39. The stock has a market cap of $1.43 billion, a price-to-earnings ratio of -6.82 and a beta of 1.29. The company has a quick ratio of 2.38, a current ratio of 2.46 and a debt-to-equity ratio of 0.67.

Analyst Ratings Changes

ARQT has been the topic of several research analyst reports. HC Wainwright reissued a “buy” rating and issued a $19.00 price objective on shares of Arcutis Biotherapeutics in a research note on Monday, January 13th. Guggenheim restated a “buy” rating on shares of Arcutis Biotherapeutics in a research note on Monday. Mizuho lifted their price objective on Arcutis Biotherapeutics from $19.00 to $20.00 and gave the company an “outperform” rating in a report on Tuesday, January 7th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $18.00 target price on shares of Arcutis Biotherapeutics in a report on Thursday, November 7th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Arcutis Biotherapeutics presently has an average rating of “Moderate Buy” and an average target price of $16.60.

Insider Buying and Selling at Arcutis Biotherapeutics

In other Arcutis Biotherapeutics news, insider Todd Franklin Watanabe sold 15,000 shares of Arcutis Biotherapeutics stock in a transaction on Friday, December 20th. The shares were sold at an average price of $15.17, for a total value of $227,550.00. Following the transaction, the insider now directly owns 823,430 shares of the company’s stock, valued at approximately $12,491,433.10. The trade was a 1.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Howard G. Welgus sold 10,000 shares of the company’s stock in a transaction on 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 directly owns 161,944 shares in the company, valued at approximately $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. Insiders have sold 55,029 shares of company stock worth $756,017 over the last quarter. 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.