Arecor Therapeutics (LON:AREC) Trading 1.9% Higher – Here’s Why

Arecor Therapeutics plc (LON:AREC) shot up 1.9% during mid-day trading on Thursday . The company traded as high as GBX 63.50 and last traded at GBX 63.20. 22,900 shares changed hands during trading, an increase of 8% from the average daily volume of 21,119 shares. The stock had previously closed at GBX 62.

Arecor Therapeutics Stock Up 1.9%

The stock has a market capitalization of £23.86 million, a P/E ratio of 31.60 and a beta of -0.18. The firm’s fifty day moving average is GBX 65.12 and its 200-day moving average is GBX 71.52. The company has a current ratio of 4.35, a quick ratio of 6.24 and a debt-to-equity ratio of 1.52.

Arecor Therapeutics (LON:AREC) last issued its quarterly earnings data on Monday, April 13th. The company reported GBX 2 earnings per share for the quarter. The firm had revenue of GBX 171 million for the quarter. Arecor Therapeutics had a net margin of 38.74% and a return on equity of 14.26%. As a group, equities research analysts predict that Arecor Therapeutics plc will post -0.35 earnings per share for the current year.

About Arecor Therapeutics

Arecor Therapeutics plc (AIM: AREC) is a clinical-stage biotech company developing superior therapeutics that can reduce treatment burden and improve outcomes for people living with diabetes, obesity and other cardiometabolic diseases.

Lead product, AT278, is the only ultra-concentrated (500U/mL) ultra-rapid-acting insulin in development. Arecor has signed an initial strategic partnership with Sequel Med Tech, a leading automated insulin delivery (AID) system company to co-develop AT278 in combination with Sequel’s twiist™ AID system.