Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Insider Todd Franklin Watanabe Sells 1,200 Shares

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) insider Todd Franklin Watanabe sold 1,200 shares of Arcutis Biotherapeutics stock in a transaction on Monday, March 17th. The stock was sold at an average price of $17.61, for a total value of $21,132.00. Following the transaction, the insider now directly owns 928,914 shares of the company’s stock, valued at approximately $16,358,175.54. This represents a 0.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

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

• On Friday, December 20th, Todd Franklin Watanabe sold 15,000 shares of Arcutis Biotherapeutics stock. The stock was sold at an average price of $15.17, for a total transaction of $227,550.00.

Arcutis Biotherapeutics Trading Up 1.0 %

Shares of ARQT stock opened at $16.77 on Friday. Arcutis Biotherapeutics, Inc. has a fifty-two week low of $6.99 and a fifty-two week high of $17.70. The firm’s 50 day moving average price is $13.61 and its two-hundred day moving average price is $11.99. The stock has a market cap of $1.99 billion, a price-to-earnings ratio of -9.37 and a beta of 1.48. The company has a quick ratio of 2.38, a current ratio of 2.46 and a debt-to-equity ratio of 0.67.

Arcutis Biotherapeutics (NASDAQ:ARQT) last released its quarterly earnings data on Tuesday, February 25th. The company reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.28) by $0.19. The company had revenue of $71.36 million for the quarter, compared to analyst estimates of $60.52 million. Arcutis Biotherapeutics had a negative return on equity of 119.11% and a negative net margin of 140.97%. On average, analysts anticipate that Arcutis Biotherapeutics, Inc. will post -1.33 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Mizuho upped 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. Guggenheim reissued a “buy” rating on shares of Arcutis Biotherapeutics in a research note on Monday, February 24th. The Goldman Sachs Group upped their price objective on shares of Arcutis Biotherapeutics from $13.00 to $15.00 and gave the company a “neutral” rating in a research note on Thursday, February 27th. Needham & Company LLC reiterated a “buy” rating and set a $20.00 price objective on shares of Arcutis Biotherapeutics in a report on Wednesday, February 26th. Finally, Jefferies Financial Group boosted their target price on shares of Arcutis Biotherapeutics from $16.00 to $19.00 and gave the company a “buy” rating in a report on Tuesday, March 11th. One research analyst has rated the stock with a hold rating and five have issued 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 $18.80.

Institutional Investors Weigh In On Arcutis Biotherapeutics

A number of large investors have recently added to or reduced their stakes in the company. Suvretta Capital Management LLC increased its stake in shares of Arcutis Biotherapeutics by 7.2% in the third quarter. Suvretta Capital Management LLC now owns 10,721,511 shares of the company’s stock worth $99,710,000 after buying an additional 717,019 shares during the last quarter. Fishman Jay A Ltd. MI increased its position in shares of Arcutis Biotherapeutics by 28.3% in the 4th quarter. Fishman Jay A Ltd. MI now owns 536,400 shares of the company’s stock worth $7,472,000 after purchasing an additional 118,400 shares during the last quarter. Rubric Capital Management LP raised its stake in shares of Arcutis Biotherapeutics by 11.7% in the 3rd quarter. Rubric Capital Management LP now owns 10,966,672 shares of the company’s stock valued at $101,990,000 after purchasing an additional 1,150,000 shares in the last quarter. Algert Global LLC lifted its position in shares of Arcutis Biotherapeutics by 595.9% during the third quarter. Algert Global LLC now owns 72,480 shares of the company’s stock worth $674,000 after purchasing an additional 62,065 shares during the last quarter. Finally, Barclays PLC grew its stake in Arcutis Biotherapeutics by 45.8% in the third quarter. Barclays PLC now owns 253,392 shares of the company’s stock worth $2,356,000 after purchasing an additional 79,579 shares in the last quarter.

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.