Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT - Get Free Report) insider Todd Franklin Watanabe sold 1,200 shares of the company's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $17.61, for a total value of $21,132.00. Following the transaction, the insider now owns 928,914 shares of the company's stock, valued at approximately $16,358,175.54. This trade represents a 0.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Todd Franklin Watanabe also recently made the following trade(s):
- On Friday, December 20th, Todd Franklin Watanabe sold 15,000 shares of Arcutis Biotherapeutics stock. The stock was sold at an average price of $15.17, for a total value of $227,550.00.
Arcutis Biotherapeutics Trading Up 1.6 %
Shares of NASDAQ:ARQT traded up $0.28 during midday trading on Monday, hitting $17.29. The company had a trading volume of 2,473,190 shares, compared to its average volume of 2,391,030. The firm has a fifty day simple moving average of $13.67 and a 200 day simple moving average of $12.05. The stock has a market cap of $2.05 billion, a price-to-earnings ratio of -9.66 and a beta of 1.48. The company has a current ratio of 2.46, a quick ratio of 2.38 and a debt-to-equity ratio of 0.67. Arcutis Biotherapeutics, Inc. has a 12 month low of $6.99 and a 12 month high of $17.70.
Arcutis Biotherapeutics (NASDAQ:ARQT - Get Free Report) last posted its earnings results on Tuesday, February 25th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.28) by $0.19. The business had revenue of $71.36 million during the quarter, compared to analysts' expectations of $60.52 million. Arcutis Biotherapeutics had a negative return on equity of 119.11% and a negative net margin of 140.97%. On average, analysts predict that Arcutis Biotherapeutics, Inc. will post -1.33 EPS for the current year.
Analysts Set New Price Targets
ARQT has been the subject of a number of recent research reports. Jefferies Financial Group upped their target price on Arcutis Biotherapeutics from $16.00 to $19.00 and gave the company a "buy" rating in a research note on Tuesday, March 11th. The Goldman Sachs Group lifted their price target on shares of Arcutis Biotherapeutics from $13.00 to $15.00 and gave the company a "neutral" rating in a report on Thursday, February 27th. HC Wainwright reissued a "buy" rating and issued a $19.00 price objective on shares of Arcutis Biotherapeutics in a research note on Wednesday, February 26th. Mizuho upped their price objective on Arcutis Biotherapeutics from $20.00 to $21.00 and gave the stock an "outperform" rating in a report on Wednesday, February 26th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $20.00 target price on shares of Arcutis Biotherapeutics in a research note on Wednesday, February 26th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $18.80.
Get Our Latest Research Report on ARQT
Institutional Investors Weigh In On Arcutis Biotherapeutics
Several institutional investors have recently bought and sold shares of the company. Jennison Associates LLC raised its holdings in shares of Arcutis Biotherapeutics by 5.8% in the fourth quarter. Jennison Associates LLC now owns 12,339,792 shares of the company's stock valued at $171,893,000 after purchasing an additional 676,295 shares during the last quarter. Suvretta Capital Management LLC increased its stake in Arcutis Biotherapeutics by 6.3% in the 4th quarter. Suvretta Capital Management LLC now owns 11,399,138 shares of the company's stock valued at $158,790,000 after buying an additional 677,627 shares during the last quarter. Rubric Capital Management LP increased its stake in Arcutis Biotherapeutics by 11.7% in the 3rd quarter. Rubric Capital Management LP now owns 10,966,672 shares of the company's stock valued at $101,990,000 after buying an additional 1,150,000 shares during the last quarter. Polar Capital Holdings Plc lifted its position in Arcutis Biotherapeutics by 7.2% during the 4th quarter. Polar Capital Holdings Plc now owns 7,377,381 shares of the company's stock worth $102,767,000 after buying an additional 493,009 shares in the last quarter. Finally, State Street Corp boosted its stake in shares of Arcutis Biotherapeutics by 9.9% during the 3rd quarter. State Street Corp now owns 5,641,631 shares of the company's stock worth $52,467,000 after buying an additional 506,788 shares during the last quarter.
About Arcutis Biotherapeutics
(
Get Free Report)
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.
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