Arcutis Biotherapeutics (NASDAQ:ARQT) Issues Earnings Results, Beats Expectations By $0.09 EPS

Arcutis Biotherapeutics (NASDAQ:ARQT) released its quarterly earnings results on Wednesday. The company reported ($0.33) earnings per share for the quarter, beating the consensus estimate of ($0.42) by $0.09, Zacks reports. Arcutis Biotherapeutics had a negative net margin of 150.51% and a negative return on equity of 145.41%. The business had revenue of $44.76 million for the quarter, compared to analysts’ expectations of $38.05 million.

Arcutis Biotherapeutics Stock Up 7.7 %

Shares of Arcutis Biotherapeutics stock traded up $0.74 during trading on Thursday, hitting $10.40. The company’s stock had a trading volume of 5,356,691 shares, compared to its average volume of 1,620,621. Arcutis Biotherapeutics has a 52 week low of $1.76 and a 52 week high of $13.17. 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 company has a fifty day simple moving average of $9.67 and a two-hundred day simple moving average of $9.30. The company has a market capitalization of $1.22 billion, a PE ratio of -4.75 and a beta of 1.18.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on ARQT shares. Jefferies Financial Group initiated coverage on shares of Arcutis Biotherapeutics in a research note on Wednesday, August 28th. They set a “buy” rating and a $15.00 target price on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $18.00 price objective on shares of Arcutis Biotherapeutics in a research report on Thursday. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $14.40.

Insiders Place Their Bets

In other news, SVP Larry Todd Edwards sold 3,725 shares of Arcutis Biotherapeutics stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $10.01, for a total transaction of $37,287.25. Following the completion of the transaction, the senior vice president now directly owns 136,635 shares in the company, valued at approximately $1,367,716.35. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Arcutis Biotherapeutics news, insider Masaru Matsuda sold 5,015 shares of the firm’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $8.68, for a total transaction of $43,530.20. Following the completion of the sale, the insider now directly owns 178,273 shares in the company, valued at approximately $1,547,409.64. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Larry Todd Edwards sold 3,725 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $10.01, for a total transaction of $37,287.25. Following the completion of the transaction, the senior vice president now owns 136,635 shares in the company, valued at approximately $1,367,716.35. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 52,094 shares of company stock worth $492,157. 9.50% of the stock is currently owned by company insiders.

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.