Sue-Jean Lin Sells 25,272 Shares of Arcutis Biotherapeutics (NASDAQ:ARQT) Stock

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Director Sue-Jean Lin sold 25,272 shares of the business’s stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $30.78, for a total transaction of $777,872.16. Following the completion of the sale, the director owned 26,735 shares in the company, valued at $822,903.30. This represents a 48.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Arcutis Biotherapeutics Stock Performance

NASDAQ:ARQT opened at $30.96 on Thursday. The company has a current ratio of 3.50, a quick ratio of 3.28 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $3.79 billion, a P/E ratio of -86.00 and a beta of 1.97. The firm has a 50-day moving average price of $22.42 and a two-hundred day moving average price of $17.47. Arcutis Biotherapeutics, Inc. has a twelve month low of $11.13 and a twelve month high of $31.11.

Arcutis Biotherapeutics (NASDAQ:ARQT) last released its quarterly earnings results on Tuesday, October 28th. The company reported $0.06 EPS for the quarter, beating the consensus estimate of ($0.10) by $0.16. Arcutis Biotherapeutics had a negative net margin of 13.94% and a negative return on equity of 29.69%. The business had revenue of $99.22 million for the quarter, compared to analyst estimates of $86.69 million. As a group, research analysts expect that Arcutis Biotherapeutics, Inc. will post -1.33 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ARQT has been the subject of several recent research reports. Needham & Company LLC raised their price target on Arcutis Biotherapeutics from $22.00 to $30.00 and gave the stock a “buy” rating in a research report on Tuesday, October 28th. Mizuho set a $32.00 price objective on Arcutis Biotherapeutics in a research note on Wednesday, October 29th. Cowen reiterated a “buy” rating on shares of Arcutis Biotherapeutics in a research report on Thursday, August 7th. The Goldman Sachs Group upped their target price on shares of Arcutis Biotherapeutics from $19.00 to $29.00 and gave the company a “neutral” rating in a report on Thursday, October 30th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Arcutis Biotherapeutics in a research note on Tuesday, October 14th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $28.00.

Hedge Funds Weigh In On Arcutis Biotherapeutics

Several large investors have recently added to or reduced their stakes in the business. Johnson Investment Counsel Inc. acquired a new stake in Arcutis Biotherapeutics in the 3rd quarter worth about $30,000. Nkcfo LLC acquired a new stake in shares of Arcutis Biotherapeutics in the first quarter worth approximately $109,000. Jones Financial Companies Lllp grew its holdings in Arcutis Biotherapeutics by 1,291.1% in the third quarter. Jones Financial Companies Lllp now owns 7,067 shares of the company’s stock valued at $124,000 after purchasing an additional 6,559 shares during the period. Allostery Investments LP acquired a new position in Arcutis Biotherapeutics during the first quarter worth approximately $117,000. Finally, PNC Financial Services Group Inc. raised its stake in Arcutis Biotherapeutics by 10.2% during the second quarter. PNC Financial Services Group Inc. now owns 8,828 shares of the company’s stock worth $124,000 after purchasing an additional 820 shares during the period.

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.