Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT – Get Free Report) Director Howard G. Welgus sold 10,000 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $13.00, for a total transaction of $130,000.00. Following the sale, the director now owns 131,944 shares in the company, valued at $1,715,272. The trade was a 7.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Arcutis Biotherapeutics Stock Up 4.4 %
Arcutis Biotherapeutics stock opened at $13.40 on Wednesday. Arcutis Biotherapeutics, Inc. has a 1-year low of $6.99 and a 1-year high of $16.20. The firm has a 50 day simple moving average of $13.49 and a 200 day simple moving average of $11.51. The company has a current ratio of 2.46, a quick ratio of 2.38 and a debt-to-equity ratio of 0.67. The firm has a market capitalization of $1.59 billion, a price-to-earnings ratio of -7.49 and a beta of 1.29.
Arcutis Biotherapeutics (NASDAQ:ARQT – Get Free Report) last posted its earnings results on Tuesday, February 25th. The company reported ($0.09) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.19. The business had revenue of $71.36 million for 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%. On average, analysts predict that Arcutis Biotherapeutics, Inc. will post -1.33 earnings per share for the current year.
Institutional Trading of Arcutis Biotherapeutics
Wall Street Analyst Weigh In
Several analysts recently weighed in on ARQT shares. Needham & Company LLC restated a “buy” rating and set a $20.00 price objective on shares of Arcutis Biotherapeutics in a research report on Wednesday, February 26th. Guggenheim reaffirmed a “buy” rating on shares of Arcutis Biotherapeutics in a research note on Monday, February 24th. Mizuho upped their target price on shares of Arcutis Biotherapeutics from $20.00 to $21.00 and gave the stock an “outperform” rating in a report on Wednesday, February 26th. The Goldman Sachs Group raised their price objective on Arcutis Biotherapeutics from $13.00 to $15.00 and gave the company a “neutral” rating in a research note on Thursday, February 27th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $19.00 price objective on shares of Arcutis Biotherapeutics in a research report on Wednesday, February 26th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $18.00.
Get Our Latest Stock Analysis on Arcutis Biotherapeutics
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.
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