Todd Franklin Watanabe Sells 1,200 Shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Stock

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) insider Todd Franklin Watanabe sold 1,200 shares of the company’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $17.61, for a total transaction of $21,132.00. Following the completion of the transaction, the insider now owns 928,914 shares in the company, valued at approximately $16,358,175.54. This trade represents a 0.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed 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 shares were sold at an average price of $15.17, for a total transaction of $227,550.00.

Arcutis Biotherapeutics Stock Performance

ARQT traded up $0.17 during trading hours on Thursday, hitting $16.77. 3,286,618 shares of the stock were exchanged, compared to its average volume of 2,408,775. The stock has a 50-day simple moving average of $13.61 and a 200-day simple moving average of $11.99. Arcutis Biotherapeutics, Inc. has a 12 month low of $6.99 and a 12 month high of $17.70. The stock has a market cap of $1.99 billion, a price-to-earnings ratio of -9.37 and a beta of 1.48. 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 (NASDAQ:ARQT) last announced its quarterly earnings data on Tuesday, February 25th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate 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. Analysts anticipate that Arcutis Biotherapeutics, Inc. will post -1.33 earnings per share for the current year.

Hedge Funds Weigh In On Arcutis Biotherapeutics

Several large investors have recently added to or reduced their stakes in the company. Point72 DIFC Ltd acquired a new stake in Arcutis Biotherapeutics in the third quarter worth $25,000. GF Fund Management CO. LTD. acquired a new stake in Arcutis Biotherapeutics in the fourth quarter worth $34,000. Venturi Wealth Management LLC acquired a new stake in Arcutis Biotherapeutics in the fourth quarter worth $46,000. Erste Asset Management GmbH acquired a new stake in Arcutis Biotherapeutics in the third quarter worth $104,000. Finally, Victory Capital Management Inc. increased its position in Arcutis Biotherapeutics by 9.9% in the third quarter. Victory Capital Management Inc. now owns 12,843 shares of the company’s stock worth $119,000 after buying an additional 1,155 shares during the period.

Analysts Set New Price Targets

A number of research firms have recently commented on ARQT. Guggenheim reaffirmed a “buy” rating on shares of Arcutis Biotherapeutics in a research note on Monday, February 24th. Jefferies Financial Group upped their price objective on shares of Arcutis Biotherapeutics from $16.00 to $19.00 and gave the company a “buy” rating in a research note on Tuesday, March 11th. HC Wainwright reaffirmed a “buy” rating and set a $19.00 price objective on shares of Arcutis Biotherapeutics in a research note on Wednesday, February 26th. Needham & Company LLC restated a “buy” rating and issued a $20.00 price target on shares of Arcutis Biotherapeutics in a report on Wednesday, February 26th. Finally, Mizuho upped their price target on Arcutis Biotherapeutics from $20.00 to $21.00 and gave the stock an “outperform” rating in a report on Wednesday, February 26th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Arcutis Biotherapeutics has an average rating of “Moderate Buy” and a consensus price target of $18.80.

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.