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

Arcutis Biotherapeutics (NASDAQ:ARQT) posted its earnings results on Tuesday. The company reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.19, Zacks reports. The business had revenue of $71.36 million for the quarter, compared to analysts’ expectations of $60.52 million. Arcutis Biotherapeutics had a negative net margin of 140.97% and a negative return on equity of 119.11%.

Arcutis Biotherapeutics Stock Performance

Arcutis Biotherapeutics stock opened at $12.20 on Wednesday. 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 has a 12 month low of $6.99 and a 12 month high of $16.20. The company has a fifty day moving average price of $13.59 and a two-hundred day moving average price of $11.41. The company has a market cap of $1.43 billion, a PE ratio of -6.82 and a beta of 1.29.

Insider Transactions at Arcutis Biotherapeutics

In other Arcutis Biotherapeutics news, insider Todd Franklin Watanabe sold 15,000 shares of the firm’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $15.17, for a total value of $227,550.00. Following the sale, the insider now directly owns 823,430 shares in the company, valued at approximately $12,491,433.10. This trade represents a 1.79 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Howard G. Welgus sold 10,000 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $12.71, for a total transaction of $127,100.00. Following the transaction, the director now directly owns 141,944 shares of the company’s stock, valued at approximately $1,804,108.24. This trade represents a 6.58 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 55,029 shares of company stock worth $756,017. 9.50% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

ARQT has been the topic of a number of analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $20.00 target price on shares of Arcutis Biotherapeutics in a research report on Wednesday. Guggenheim reiterated a “buy” rating on shares of Arcutis Biotherapeutics in a research note on Monday. HC Wainwright reissued a “buy” rating and issued a $19.00 target price on shares of Arcutis Biotherapeutics in a research report on Monday, January 13th. Finally, Mizuho upped their target price on shares of Arcutis Biotherapeutics from $19.00 to $20.00 and gave the company an “outperform” rating in a research note on Tuesday, January 7th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $17.00.

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.