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 the company’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $17.61, for a total transaction of $21,132.00. Following the completion of the transaction, the insider now owns 928,914 shares of the company’s stock, valued at approximately $16,358,175.54. This trade represents a 0.13 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

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 Stock Up 1.4 %

ARQT stock opened at $17.01 on Friday. Arcutis Biotherapeutics, Inc. has a 12 month low of $6.99 and a 12 month high of $17.70. The firm has a market cap of $2.02 billion, a PE ratio of -9.50 and a beta of 1.48. The firm has a 50 day simple moving average of $13.67 and a 200 day simple moving average of $12.03. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.46 and a quick ratio of 2.38.

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

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Guggenheim reaffirmed a “buy” rating on shares of Arcutis Biotherapeutics in a research note on Monday, February 24th. Jefferies Financial Group upped their price target on shares of Arcutis Biotherapeutics from $16.00 to $19.00 and gave the stock a “buy” rating in a research note on Tuesday, March 11th. HC Wainwright reaffirmed a “buy” rating and issued a $19.00 price target on shares of Arcutis Biotherapeutics in a research note on Wednesday, February 26th. Mizuho upped their price target on shares of Arcutis Biotherapeutics from $20.00 to $21.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 26th. Finally, Needham & Company LLC reissued a “buy” rating and set a $20.00 target price on shares of Arcutis Biotherapeutics in a research note on Wednesday, February 26th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $18.80.

Institutional Investors Weigh In On Arcutis Biotherapeutics

Several hedge funds have recently made changes to their positions in ARQT. Point72 DIFC Ltd purchased a new stake in shares of Arcutis Biotherapeutics in the 3rd quarter valued at approximately $25,000. GF Fund Management CO. LTD. purchased a new stake in shares of Arcutis Biotherapeutics in the 4th quarter valued at approximately $34,000. Venturi Wealth Management LLC purchased a new stake in shares of Arcutis Biotherapeutics in the 4th quarter valued at approximately $46,000. Erste Asset Management GmbH purchased a new stake in shares of Arcutis Biotherapeutics in the 3rd quarter valued at approximately $104,000. Finally, Victory Capital Management Inc. lifted its position in shares of Arcutis Biotherapeutics by 9.9% in the 3rd quarter. Victory Capital Management Inc. now owns 12,843 shares of the company’s stock valued at $119,000 after acquiring an additional 1,155 shares in the last quarter.

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.