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

Arcutis Biotherapeutics (NASDAQ:ARQT) issued its quarterly earnings data on Wednesday. The company reported ($0.33) EPS for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.09, Zacks reports. The firm had revenue of $44.76 million for the quarter, compared to analyst estimates of $38.05 million. Arcutis Biotherapeutics had a negative net margin of 150.51% and a negative return on equity of 145.41%.

Arcutis Biotherapeutics Stock Up 7.7 %

Shares of ARQT opened at $10.40 on Friday. The firm has a 50 day simple moving average of $9.67 and a two-hundred day simple moving average of $9.30. 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 one year low of $1.76 and a one year high of $13.17. The company has a market cap of $1.22 billion, a P/E ratio of -4.75 and a beta of 1.18.

Insider Buying and Selling

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

Analysts Set New Price Targets

Several brokerages have commented on ARQT. Needham & Company LLC reiterated a “buy” rating and set a $18.00 target price on shares of Arcutis Biotherapeutics in a research report on Thursday. Jefferies Financial Group started coverage on Arcutis Biotherapeutics in a report on Wednesday, August 28th. They set a “buy” rating and a $15.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Arcutis Biotherapeutics presently has an average rating of “Moderate Buy” and a consensus 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.