Arcutis Biotherapeutics (NASDAQ:ARQT) Posts Quarterly Earnings Results, Beats Expectations By $0.19 EPS

Arcutis Biotherapeutics (NASDAQ:ARQT) released its quarterly earnings data on Tuesday. The company reported ($0.09) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.19, Zacks reports. Arcutis Biotherapeutics had a negative net margin of 140.97% and a negative return on equity of 119.11%.

Arcutis Biotherapeutics Price Performance

ARQT traded down $0.19 during trading on Tuesday, hitting $12.20. The company’s stock had a trading volume of 2,627,617 shares, compared to its average volume of 2,128,617. The firm has a market capitalization of $1.43 billion, a price-to-earnings ratio of -6.82 and a beta of 1.29. Arcutis Biotherapeutics has a twelve month low of $6.99 and a twelve month high of $16.20. The business’s fifty day simple moving average is $13.64 and its 200 day simple moving average is $11.39. The company has a current ratio of 2.46, a quick ratio of 2.38 and a debt-to-equity ratio of 0.67.

Wall Street Analyst Weigh In

ARQT has been the topic of several recent research reports. Guggenheim reaffirmed a “buy” rating on shares of Arcutis Biotherapeutics in a report on Monday. Mizuho upped their target price on Arcutis Biotherapeutics from $19.00 to $20.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 7th. HC Wainwright reiterated a “buy” rating and set a $19.00 price target on shares of Arcutis Biotherapeutics in a research report on Monday, January 13th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $18.00 price target on shares of Arcutis Biotherapeutics in a report on Thursday, November 7th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $16.60.

Insider Transactions at Arcutis Biotherapeutics

In other Arcutis Biotherapeutics news, Director Howard G. Welgus sold 10,000 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $12.51, for a total transaction of $125,100.00. Following the completion of the transaction, the director now directly owns 161,944 shares in the company, valued at approximately $2,025,919.44. This represents a 5.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Masaru Matsuda sold 8,338 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $12.70, for a total transaction of $105,892.60. Following the transaction, the insider now directly owns 178,692 shares in the company, valued at approximately $2,269,388.40. The trade was a 4.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 55,029 shares of company stock valued at $756,017 in the last three months. 9.50% of the stock is currently owned by company insiders.

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.