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 Arcutis Biotherapeutics stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $17.61, for a total value 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. The trade was a 0.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 value of $227,550.00.

Arcutis Biotherapeutics Trading Up 1.0 %

Arcutis Biotherapeutics stock opened at $16.77 on Friday. The firm has a market cap of $1.99 billion, a price-to-earnings ratio of -9.37 and a beta of 1.48. Arcutis Biotherapeutics, Inc. has a 1 year low of $6.99 and a 1 year high of $17.70. The firm’s 50 day moving average price is $13.61 and its two-hundred day moving average price is $11.99. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.38 and a current ratio of 2.46.

Arcutis Biotherapeutics (NASDAQ:ARQT) last issued its quarterly 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. Arcutis Biotherapeutics had a negative return on equity of 119.11% and a negative net margin of 140.97%. The firm had revenue of $71.36 million for the quarter, compared to analysts’ expectations of $60.52 million. On average, research analysts predict that Arcutis Biotherapeutics, Inc. will post -1.33 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on ARQT shares. Jefferies Financial Group increased their target price on Arcutis Biotherapeutics from $16.00 to $19.00 and gave the stock a “buy” rating in a research report on Tuesday, March 11th. Mizuho increased their price objective 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 lifted their price target on Arcutis Biotherapeutics from $13.00 to $15.00 and gave the company a “neutral” rating in a report on Thursday, February 27th. Needham & Company LLC reissued a “buy” rating and issued a $20.00 price target on shares of Arcutis Biotherapeutics in a research note on Wednesday, February 26th. Finally, HC Wainwright restated a “buy” rating and issued a $19.00 price objective on shares of Arcutis Biotherapeutics in a report on Wednesday, February 26th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $18.80.

Hedge Funds Weigh In On Arcutis Biotherapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Summit Investment Advisors Inc. lifted its holdings in shares of Arcutis Biotherapeutics by 8.0% in the fourth quarter. Summit Investment Advisors Inc. now owns 11,245 shares of the company’s stock valued at $157,000 after purchasing an additional 837 shares in the last quarter. Victory Capital Management Inc. boosted its position in Arcutis Biotherapeutics by 9.9% during the 3rd quarter. Victory Capital Management Inc. now owns 12,843 shares of the company’s stock worth $119,000 after acquiring an additional 1,155 shares during the period. China Universal Asset Management Co. Ltd. boosted its holdings in shares of Arcutis Biotherapeutics by 10.4% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 24,818 shares of the company’s stock worth $346,000 after purchasing an additional 2,336 shares during the period. GF Fund Management CO. LTD. acquired a new position in Arcutis Biotherapeutics in the 4th quarter valued at approximately $34,000. Finally, Point72 DIFC Ltd purchased a new stake in Arcutis Biotherapeutics in the 3rd quarter worth approximately $25,000.

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.