Terrie Curran Sells 38,200 Shares of Arcutis Biotherapeutics (NASDAQ:ARQT) Stock

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Director Terrie Curran sold 38,200 shares of the firm’s stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $25.03, for a total value of $956,146.00. Following the completion of the sale, the director owned 23,526 shares of the company’s stock, valued at approximately $588,855.78. This represents a 61.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Terrie Curran also recently made the following trade(s):

• On Thursday, August 20th, Terrie Curran sold 1,072 shares of Arcutis Biotherapeutics stock. The shares were sold at an average price of $26.04, for a total value of $27,914.88.

Arcutis Biotherapeutics Stock Down 4.4%

ARQT stock opened at $23.78 on Friday. The stock’s 50 day simple moving average is $26.64 and its 200 day simple moving average is $24.63. Arcutis Biotherapeutics, Inc. has a fifty-two week low of $15.10 and a fifty-two week high of $31.77. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.67 and a current ratio of 2.92. The company has a market cap of $2.99 billion, a P/E ratio of 113.24 and a beta of 1.49.

Arcutis Biotherapeutics (NASDAQ:ARQT) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.05. Arcutis Biotherapeutics had a return on equity of 15.05% and a net margin of 6.15%.The firm had revenue of $129.86 million during the quarter, compared to analysts’ expectations of $118.85 million. On average, research analysts expect that Arcutis Biotherapeutics, Inc. will post 0.4 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ARQT. Wall Street Zen upgraded shares of Arcutis Biotherapeutics from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 8th. Needham & Company LLC raised their target price on Arcutis Biotherapeutics from $36.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Guggenheim lifted their target price on Arcutis Biotherapeutics from $35.00 to $38.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Weiss Ratings raised Arcutis Biotherapeutics from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, August 20th. Finally, Morgan Stanley raised their price objective on Arcutis Biotherapeutics from $34.00 to $38.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. Six research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $35.57.

Hedge Funds Weigh In On Arcutis Biotherapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the business. California State Teachers Retirement System increased its position in Arcutis Biotherapeutics by 2,479.9% in the second quarter. California State Teachers Retirement System now owns 3,310,485 shares of the company’s stock worth $86,801,000 after buying an additional 3,182,168 shares during the last quarter. Nykredit A S bought a new position in shares of Arcutis Biotherapeutics during the 2nd quarter worth $63,000. Montanova Capital LLC raised its stake in Arcutis Biotherapeutics by 0.9% in the 2nd quarter. Montanova Capital LLC now owns 12,437,000 shares of the company’s stock valued at $326,098,000 after acquiring an additional 110,000 shares during the period. Headlands Technologies LLC purchased a new stake in Arcutis Biotherapeutics during the second quarter valued at about $401,000. Finally, Two Sigma Securities LLC purchased a new stake in Arcutis Biotherapeutics during the second quarter valued at about $331,000.

About Arcutis Biotherapeutics

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.