Arcutis Biotherapeutics (NASDAQ:ARQT) Releases Quarterly Earnings Results, Beats Expectations By $0.19 EPS

Arcutis Biotherapeutics (NASDAQ:ARQT) released its quarterly earnings data on Tuesday. The company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.19, Zacks reports. Arcutis Biotherapeutics had a negative net margin of 140.97% and a negative return on equity of 119.11%.

Arcutis Biotherapeutics Stock Down 1.5 %

Shares of Arcutis Biotherapeutics stock traded down $0.19 during trading on Tuesday, reaching $12.20. The company’s stock had a trading volume of 2,724,624 shares, compared to its average volume of 2,147,428. Arcutis Biotherapeutics has a 1-year low of $6.99 and a 1-year high of $16.20. The company has a 50-day simple moving average of $13.64 and a two-hundred day simple moving average of $11.39. The company has a quick ratio of 2.38, a current ratio of 2.46 and a debt-to-equity ratio of 0.67. The company has a market cap of $1.43 billion, a price-to-earnings ratio of -6.82 and a beta of 1.29.

Insider Activity at Arcutis Biotherapeutics

In other Arcutis Biotherapeutics news, Director Howard G. Welgus sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $12.51, for a total transaction of $125,100.00. Following the transaction, the director now owns 161,944 shares in the company, valued at approximately $2,025,919.44. This represents a 5.82 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Todd Franklin Watanabe sold 15,000 shares of the firm’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $15.17, for a total value of $227,550.00. Following the completion of the transaction, the insider now owns 823,430 shares of the company’s stock, valued at $12,491,433.10. This trade represents a 1.79 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 55,029 shares of company stock valued at $756,017 in the last ninety days. Corporate insiders own 9.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on ARQT shares. Guggenheim restated a “buy” rating on shares of Arcutis Biotherapeutics in a report on Monday. Mizuho upped their price objective on Arcutis Biotherapeutics from $19.00 to $20.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 7th. Needham & Company LLC reiterated a “buy” rating and issued a $18.00 target price on shares of Arcutis Biotherapeutics in a research note on Thursday, November 7th. Finally, HC Wainwright reissued a “buy” rating and set a $19.00 price target on shares of Arcutis Biotherapeutics in a research report on Monday, January 13th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $16.60.

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.