What is HC Wainwright’s Forecast for ARQT FY2024 Earnings?

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) – Equities researchers at HC Wainwright issued their FY2024 EPS estimates for shares of Arcutis Biotherapeutics in a research note issued on Monday, December 30th. HC Wainwright analyst D. Tsao forecasts that the company will post earnings of ($1.41) per share for the year. HC Wainwright has a “Buy” rating and a $19.00 price objective on the stock. The consensus estimate for Arcutis Biotherapeutics’ current full-year earnings is ($1.34) per share. HC Wainwright also issued estimates for Arcutis Biotherapeutics’ Q4 2024 earnings at ($0.33) EPS, Q1 2025 earnings at ($0.30) EPS, Q2 2025 earnings at ($0.27) EPS, Q3 2025 earnings at ($0.25) EPS, Q4 2025 earnings at ($0.30) EPS, FY2025 earnings at ($1.13) EPS, FY2026 earnings at ($0.23) EPS, FY2027 earnings at $0.94 EPS and FY2028 earnings at $1.64 EPS.

Separately, Needham & Company LLC reaffirmed a “buy” rating and issued a $18.00 price target on shares of Arcutis Biotherapeutics in a report on Thursday, November 7th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $16.20.

Arcutis Biotherapeutics Trading Up 4.5 %

NASDAQ:ARQT opened at $14.56 on Wednesday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.38 and a current ratio of 2.46. Arcutis Biotherapeutics has a 1 year low of $3.11 and a 1 year high of $15.79. The stock has a market cap of $1.70 billion, a P/E ratio of -8.13 and a beta of 1.32. The stock has a 50-day simple moving average of $11.74 and a 200-day simple moving average of $10.39.

Arcutis Biotherapeutics (NASDAQ:ARQT) last issued its earnings results on Wednesday, November 6th. The company reported ($0.33) EPS for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.09. Arcutis Biotherapeutics had a negative net margin of 140.97% and a negative return on equity of 119.11%. The firm had revenue of $44.76 million during the quarter, compared to the consensus estimate of $38.05 million.

Insider Buying and Selling at Arcutis Biotherapeutics

In other Arcutis Biotherapeutics 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 transaction of $43,530.20. Following the completion of the sale, the insider now directly owns 178,273 shares of the company’s stock, valued at $1,547,409.64. This represents a 2.74 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Patrick Burnett sold 16,023 shares of Arcutis Biotherapeutics stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $10.14, for a total value of $162,473.22. Following the completion of the transaction, the insider now owns 128,669 shares in the company, valued at $1,304,703.66. This trade represents a 11.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 68,291 shares of company stock worth $781,266. 9.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Arcutis Biotherapeutics

A number of large investors have recently bought and sold shares of the company. Point72 DIFC Ltd acquired a new position in shares of Arcutis Biotherapeutics during the third quarter worth about $25,000. Algert Global LLC purchased a new stake in Arcutis Biotherapeutics in the 2nd quarter valued at approximately $97,000. Erste Asset Management GmbH acquired a new position in Arcutis Biotherapeutics during the 3rd quarter worth approximately $104,000. Victory Capital Management Inc. raised its stake in shares of Arcutis Biotherapeutics by 9.9% during the 3rd quarter. Victory Capital Management Inc. now owns 12,843 shares of the company’s stock worth $119,000 after buying an additional 1,155 shares in the last quarter. Finally, Creative Planning acquired a new stake in shares of Arcutis Biotherapeutics in the 3rd quarter valued at approximately $127,000.

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.