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

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

Arcutis Biotherapeutics Stock Down 1.5 %

ARQT 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. The firm has a market cap of $1.43 billion, a PE ratio of -6.82 and a beta of 1.29. Arcutis Biotherapeutics has a 12 month low of $6.99 and a 12 month high of $16.20. The firm has a 50 day simple moving average of $13.59 and a 200 day simple moving average of $11.41.

Insider Buying and Selling at Arcutis Biotherapeutics

In other Arcutis Biotherapeutics news, insider Masaru Matsuda sold 8,338 shares of Arcutis Biotherapeutics stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $12.70, for a total transaction of $105,892.60. Following the transaction, the insider now directly owns 178,692 shares in the company, valued at approximately $2,269,388.40. The trade was a 4.46 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Howard G. Welgus sold 10,000 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $12.71, for a total value of $127,100.00. Following the completion of the sale, the director now owns 141,944 shares of the company’s stock, valued at $1,804,108.24. The trade was a 6.58 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 55,029 shares of company stock valued at $756,017. Corporate insiders own 9.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. HC Wainwright restated a “buy” rating and set a $19.00 price objective on shares of Arcutis Biotherapeutics in a research note on Monday, January 13th. Needham & Company LLC restated a “buy” rating and set a $20.00 price target on shares of Arcutis Biotherapeutics in a research report on Wednesday. Guggenheim reiterated a “buy” rating on shares of Arcutis Biotherapeutics in a report on Monday. Finally, Mizuho boosted their target price on Arcutis Biotherapeutics from $19.00 to $20.00 and gave the stock an “outperform” rating in a report on Tuesday, January 7th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $17.00.

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.