Arcutis Biotherapeutics (NASDAQ:ARQT) Director Sells $16,300.45 in Stock

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Director Howard Welgus sold 635 shares of the stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $25.67, for a total value of $16,300.45. Following the transaction, the director directly owned 37,743 shares in the company, valued at approximately $968,862.81. This represents a 1.65% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Arcutis Biotherapeutics Price Performance

Shares of ARQT stock opened at $26.21 on Friday. The stock’s 50 day simple moving average is $22.77 and its 200 day simple moving average is $25.13. Arcutis Biotherapeutics, Inc. has a twelve month low of $13.06 and a twelve month high of $31.77. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.46 and a current ratio of 2.68. The company has a market capitalization of $3.28 billion, a price-to-earnings ratio of -873.38 and a beta of 1.51.

Arcutis Biotherapeutics (NASDAQ:ARQT) last announced its earnings results on Wednesday, May 6th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.07). Arcutis Biotherapeutics had a negative return on equity of 1.41% and a negative net margin of 0.57%.The company had revenue of $105.40 million for the quarter, compared to the consensus estimate of $103.67 million. As a group, research analysts predict that Arcutis Biotherapeutics, Inc. will post 0.15 EPS for the current year.

Institutional Investors Weigh In On Arcutis Biotherapeutics

Hedge funds have recently made changes to their positions in the stock. Segall Bryant & Hamill LLC acquired a new stake in Arcutis Biotherapeutics during the first quarter worth about $609,000. Bank of America Corp DE raised its holdings in Arcutis Biotherapeutics by 32.7% in the 1st quarter. Bank of America Corp DE now owns 2,221,289 shares of the company’s stock valued at $52,334,000 after acquiring an additional 547,835 shares in the last quarter. Stempoint Capital LP raised its holdings in Arcutis Biotherapeutics by 84.1% in the 1st quarter. Stempoint Capital LP now owns 413,792 shares of the company’s stock valued at $9,749,000 after acquiring an additional 189,052 shares in the last quarter. Janus Henderson Group PLC lifted its position in shares of Arcutis Biotherapeutics by 1.3% in the 1st quarter. Janus Henderson Group PLC now owns 1,854,566 shares of the company’s stock worth $43,684,000 after acquiring an additional 24,505 shares during the period. Finally, Amundi bought a new stake in shares of Arcutis Biotherapeutics in the 1st quarter worth approximately $214,000.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ARQT. Mizuho decreased their price target on shares of Arcutis Biotherapeutics from $37.00 to $35.00 and set an “outperform” rating for the company in a report on Monday, March 2nd. Wall Street Zen lowered Arcutis Biotherapeutics from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. HC Wainwright boosted their price objective on Arcutis Biotherapeutics from $30.00 to $34.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. Needham & Company LLC reissued a “buy” rating and set a $36.00 price objective on shares of Arcutis Biotherapeutics in a research report on Thursday, May 7th. Finally, TD Cowen increased their target price on Arcutis Biotherapeutics from $30.00 to $35.00 and gave the company a “buy” rating in a research note on Thursday, February 26th. Five research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Arcutis Biotherapeutics has a consensus rating of “Moderate Buy” and an average price target of $34.00.

Arcutis Biotherapeutics Company Profile

Arcutis Biotherapeutics is a clinical-stage biopharmaceutical company focused on developing and commercializing innovative therapies for immuno-inflammatory skin diseases. The company’s research and development efforts center on targeted treatments that address the underlying biology of conditions such as plaque psoriasis, atopic dermatitis, seborrheic dermatitis and vitiligo. Arcutis employs a precision-medicine approach to deliver topical therapies designed to improve efficacy and tolerability compared with existing treatment options.

In August 2022, Arcutis received U.S.