Arcutis Biotherapeutics (NASDAQ:ARQT) Announces Quarterly Earnings Results, Beats Estimates By $0.19 EPS

Arcutis Biotherapeutics (NASDAQ:ARQT) announced its quarterly earnings results on Tuesday. The company reported ($0.09) earnings per share (EPS) for the quarter, beating 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 Trading Down 1.5 %

Shares of NASDAQ:ARQT traded down $0.19 during trading hours on Tuesday, hitting $12.20. 2,724,624 shares of the company’s stock traded hands, compared to its average volume of 2,147,428. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.46 and a quick ratio of 2.38. The business has a fifty day moving average price of $13.64 and a 200-day moving average price of $11.39. Arcutis Biotherapeutics has a 1 year low of $6.99 and a 1 year high of $16.20. The firm has a market capitalization of $1.43 billion, a P/E ratio of -6.82 and a beta of 1.29.

Insider Activity at Arcutis Biotherapeutics

In other Arcutis Biotherapeutics news, insider Todd Franklin Watanabe sold 15,000 shares of the business’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $15.17, for a total value of $227,550.00. Following the completion of the sale, the insider now directly owns 823,430 shares of the company’s stock, valued at $12,491,433.10. The trade was a 1.79 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Masaru Matsuda sold 8,338 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $12.70, for a total transaction of $105,892.60. Following the transaction, the insider now directly owns 178,692 shares in the company, valued at approximately $2,269,388.40. This trade represents a 4.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 55,029 shares of company stock worth $756,017 in the last quarter. 9.50% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. HC Wainwright reaffirmed a “buy” rating and issued a $19.00 target price on shares of Arcutis Biotherapeutics in a report on Monday, January 13th. Guggenheim reaffirmed a “buy” rating on shares of Arcutis Biotherapeutics in a research note on Monday. Needham & Company LLC reiterated a “buy” rating and set a $18.00 target price on shares of Arcutis Biotherapeutics in a research report on Thursday, November 7th. Finally, Mizuho boosted their price target on shares of Arcutis Biotherapeutics from $19.00 to $20.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 7th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $16.60.

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.