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

Arcutis Biotherapeutics (NASDAQ:ARQT) announced its quarterly earnings results on Wednesday. The company reported ($0.33) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.42) by $0.09, Zacks reports. The business had revenue of $44.76 million for the quarter, compared to analyst estimates 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

ARQT opened at $10.40 on Friday. The firm’s fifty day moving average price is $9.67 and its two-hundred day moving average price is $9.30. The company has a market capitalization of $1.22 billion, a price-to-earnings ratio of -4.75 and a beta of 1.18. The company has a debt-to-equity ratio of 1.09, a current ratio of 8.46 and a quick ratio of 8.19. Arcutis Biotherapeutics has a 1 year low of $1.76 and a 1 year high of $13.17.

Insider Activity at Arcutis Biotherapeutics

In other news, insider Masaru Matsuda sold 5,015 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $8.68, for a total value of $43,530.20. Following the completion of the transaction, the insider now directly owns 178,273 shares of the company’s stock, valued at $1,547,409.64. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Arcutis Biotherapeutics news, CFO David Joseph Topper sold 11,626 shares of the business’s stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $9.48, for a total value of $110,214.48. Following the sale, the chief financial officer now directly owns 158,374 shares in the company, valued at $1,501,385.52. 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. Also, insider Masaru Matsuda sold 5,015 shares of the company’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $8.68, for a total value of $43,530.20. Following the transaction, the insider now directly owns 178,273 shares in the company, valued at $1,547,409.64. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 52,094 shares of company stock valued at $492,157 over the last ninety days. Corporate insiders own 9.50% of the company’s stock.

Analyst Upgrades and Downgrades

ARQT has been the topic of several research reports. Jefferies Financial Group started coverage on shares of Arcutis Biotherapeutics in a report on Wednesday, August 28th. They set a “buy” rating and a $15.00 price objective on the stock. Needham & Company LLC restated a “buy” rating and issued a $18.00 target price on shares of Arcutis Biotherapeutics in a report on Thursday. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock has an average 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.