Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Insider Sells $26,280.00 in Stock

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) insider Todd Franklin Watanabe sold 1,500 shares of the company’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $17.52, for a total value of $26,280.00. Following the sale, the insider now directly owns 927,414 shares in the company, valued at $16,248,293.28. This represents a 0.16 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Todd Franklin Watanabe also recently made the following trade(s):

• On Monday, March 17th, Todd Franklin Watanabe sold 1,200 shares of Arcutis Biotherapeutics stock. The stock was sold at an average price of $17.61, for a total value of $21,132.00.

Arcutis Biotherapeutics Stock Down 2.2 %

Shares of NASDAQ:ARQT opened at $15.73 on Friday. The firm has a 50 day simple moving average of $13.98 and a 200-day simple moving average of $12.24. Arcutis Biotherapeutics, Inc. has a twelve month low of $6.99 and a twelve month high of $17.75. The company has a current ratio of 2.46, a quick ratio of 2.38 and a debt-to-equity ratio of 0.67. The company has a market capitalization of $1.87 billion, a PE ratio of -8.79 and a beta of 1.48.

Arcutis Biotherapeutics (NASDAQ:ARQT) last announced its quarterly earnings results on Tuesday, February 25th. The company reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.19. Arcutis Biotherapeutics had a negative net margin of 140.97% and a negative return on equity of 119.11%. The firm had revenue of $71.36 million during the quarter, compared to analysts’ expectations of $60.52 million. On average, equities analysts predict that Arcutis Biotherapeutics, Inc. will post -1.33 EPS for the current fiscal year.

Analysts Set New Price Targets

ARQT has been the subject of several recent research reports. Guggenheim reiterated a “buy” rating on shares of Arcutis Biotherapeutics in a research note on Monday, February 24th. HC Wainwright reiterated a “buy” rating and set a $19.00 price target on shares of Arcutis Biotherapeutics in a report on Wednesday, February 26th. Needham & Company LLC restated a “buy” rating and issued a $20.00 price objective on shares of Arcutis Biotherapeutics in a report on Wednesday, February 26th. The Goldman Sachs Group boosted their target price on shares of Arcutis Biotherapeutics from $13.00 to $15.00 and gave the stock a “neutral” rating in a research note on Thursday, February 27th. Finally, Jefferies Financial Group raised their price target on Arcutis Biotherapeutics from $16.00 to $19.00 and gave the company a “buy” rating in a research note on Tuesday, March 11th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Arcutis Biotherapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $18.80.

Institutional Trading of Arcutis Biotherapeutics

Institutional investors and hedge funds have recently made changes to their positions in the company. GF Fund Management CO. LTD. purchased a new position in Arcutis Biotherapeutics during the 4th quarter worth approximately $34,000. Point72 DIFC Ltd purchased a new position in shares of Arcutis Biotherapeutics during the third quarter worth approximately $25,000. Venturi Wealth Management LLC acquired a new position in shares of Arcutis Biotherapeutics in the 4th quarter valued at $46,000. Cibc World Markets Corp purchased a new stake in Arcutis Biotherapeutics in the 4th quarter valued at $140,000. Finally, Erste Asset Management GmbH purchased a new stake in Arcutis Biotherapeutics in the 3rd quarter valued at $104,000.

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.