Arcutis Biotherapeutics (NASDAQ:ARQT) Stock Price Up 6.5%

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) traded up 6.5% on Wednesday . The company traded as high as $10.17 and last traded at $10.17. 753,799 shares were traded during trading, a decline of 78% from the average session volume of 3,440,123 shares. The stock had previously closed at $9.55.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on ARQT shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $18.00 price objective on shares of Arcutis Biotherapeutics in a research report on Thursday, August 15th. Jefferies Financial Group started coverage on shares of Arcutis Biotherapeutics in a research report on Wednesday, August 28th. They set a “buy” rating and a $15.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $13.33.

Arcutis Biotherapeutics Trading Up 7.3 %

The company has a debt-to-equity ratio of 1.09, a quick ratio of 8.19 and a current ratio of 8.46. The stock has a market capitalization of $1.19 billion, a price-to-earnings ratio of -3.47 and a beta of 1.18. The business has a fifty day simple moving average of $9.80 and a 200 day simple moving average of $9.49.

Arcutis Biotherapeutics (NASDAQ:ARQT) last released its quarterly earnings results on Wednesday, August 14th. The company reported ($0.42) EPS for the quarter, topping analysts’ consensus estimates of ($0.48) by $0.06. The business had revenue of $30.86 million for the quarter, compared to analyst estimates of $31.00 million. Arcutis Biotherapeutics had a negative net margin of 150.51% and a negative return on equity of 145.41%. During the same period last year, the firm earned ($1.16) earnings per share. As a group, research analysts expect that Arcutis Biotherapeutics, Inc. will post -1.56 EPS for the current year.

Insider Activity at Arcutis Biotherapeutics

In other Arcutis Biotherapeutics news, CFO David Joseph Topper sold 11,626 shares of the firm’s stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $9.48, for a total transaction of $110,214.48. Following the transaction, the chief financial officer now owns 158,374 shares in the company, valued at approximately $1,501,385.52. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CFO David Joseph Topper sold 11,626 shares of the stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $9.48, for a total transaction of $110,214.48. Following the sale, the chief financial officer now directly owns 158,374 shares of the company’s stock, valued at approximately $1,501,385.52. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Howard G. Welgus sold 10,000 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $9.87, for a total transaction of $98,700.00. Following the sale, the director now directly owns 176,953 shares of the company’s stock, valued at approximately $1,746,526.11. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 38,574 shares of company stock worth $378,024. Company insiders own 9.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Pennant Investors LP bought a new position in shares of Arcutis Biotherapeutics in the 4th quarter valued at $552,000. SG Americas Securities LLC raised its stake in Arcutis Biotherapeutics by 531.2% during the second quarter. SG Americas Securities LLC now owns 99,161 shares of the company’s stock worth $922,000 after acquiring an additional 83,452 shares in the last quarter. AMI Asset Management Corp bought a new position in shares of Arcutis Biotherapeutics in the first quarter worth about $3,421,000. ADAR1 Capital Management LLC bought a new position in shares of Arcutis Biotherapeutics in the fourth quarter worth about $888,000. Finally, Vanguard Group Inc. boosted its stake in shares of Arcutis Biotherapeutics by 5.5% in the 1st quarter. Vanguard Group Inc. now owns 5,166,417 shares of the company’s stock valued at $51,199,000 after purchasing an additional 269,904 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.