Arcutis Biotherapeutics (NASDAQ:ARQT) Releases Quarterly 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, topping analysts’ consensus estimates of ($0.42) by $0.09, Zacks reports. The business had revenue of $44.76 million for the quarter, compared to analysts’ expectations of $38.05 million. Arcutis Biotherapeutics had a negative return on equity of 145.41% and a negative net margin of 150.51%.

Arcutis Biotherapeutics Price Performance

Shares of ARQT traded up $0.74 during trading hours on Thursday, reaching $10.40. 5,356,691 shares of the company traded hands, compared to its average volume of 1,620,621. The stock has a market capitalization of $1.22 billion, a PE ratio of -4.75 and a beta of 1.18. The stock has a fifty day simple moving average of $9.67 and a 200 day simple moving average of $9.30. Arcutis Biotherapeutics has a fifty-two week low of $1.76 and a fifty-two week high of $13.17. The company has a quick ratio of 8.19, a current ratio of 8.46 and a debt-to-equity ratio of 1.09.

Insider Activity at Arcutis Biotherapeutics

In other news, Director Howard G. Welgus sold 10,000 shares of Arcutis Biotherapeutics stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $8.65, for a total transaction of $86,500.00. Following the completion of the sale, the director now directly owns 171,944 shares in the company, valued at $1,487,315.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Howard G. Welgus sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $8.65, for a total transaction of $86,500.00. Following the sale, the director now owns 171,944 shares in the company, valued at approximately $1,487,315.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO David Joseph Topper sold 11,626 shares of the business’s stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $9.48, for a total value of $110,214.48. Following the completion of the transaction, the chief financial officer now owns 158,374 shares of the company’s stock, valued at $1,501,385.52. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 52,094 shares of company stock valued at $492,157. 9.50% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

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

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.