Todd Franklin Watanabe Sells 1,500 Shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Stock

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT - Get Free Report) insider Todd Franklin Watanabe sold 1,500 shares of the company's stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $17.52, for a total transaction of $26,280.00. Following the completion of the transaction, the insider now owns 927,414 shares of the company's stock, valued at approximately $16,248,293.28. This trade represents a 0.16 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Todd Franklin Watanabe also recently made the following trade(s):

• On Monday, March 17th, Todd Franklin Watanabe sold 1,200 shares of Arcutis Biotherapeutics stock. The shares were sold at an average price of $17.61, for a total value of $21,132.00.

Arcutis Biotherapeutics Price Performance

Shares of NASDAQ ARQT traded down $0.36 during mid-day trading on Friday, reaching $15.73. The company's stock had a trading volume of 1,451,484 shares, compared to its average volume of 2,413,202. The stock has a market capitalization of $1.87 billion, a P/E ratio of -8.79 and a beta of 1.48. Arcutis Biotherapeutics, Inc. has a 1-year low of $6.99 and a 1-year high of $17.75. The stock has a 50-day moving average of $13.98 and a two-hundred day moving average of $12.26. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.38 and a current ratio of 2.46.

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Arcutis Biotherapeutics (NASDAQ:ARQT - Get Free Report) last released its quarterly earnings data on Tuesday, February 25th. The company reported ($0.09) EPS for the quarter, beating analysts' consensus estimates of ($0.28) by $0.19. The company had revenue of $71.36 million during the quarter, compared to the consensus estimate of $60.52 million. Arcutis Biotherapeutics had a negative net margin of 140.97% and a negative return on equity of 119.11%. On average, equities research analysts anticipate that Arcutis Biotherapeutics, Inc. will post -1.33 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have commented on ARQT shares. Mizuho raised their price objective on Arcutis Biotherapeutics from $20.00 to $21.00 and gave the company an "outperform" rating in a report on Wednesday, February 26th. Jefferies Financial Group lifted their price target on shares of Arcutis Biotherapeutics from $16.00 to $19.00 and gave the company a "buy" rating in a research note on Tuesday, March 11th. HC Wainwright reaffirmed a "buy" rating and set a $19.00 price objective on shares of Arcutis Biotherapeutics in a report on Wednesday, February 26th. The Goldman Sachs Group boosted their target price on shares of Arcutis Biotherapeutics from $13.00 to $15.00 and gave the stock a "neutral" rating in a research note on Thursday, February 27th. Finally, Guggenheim reaffirmed a "buy" rating on shares of Arcutis Biotherapeutics in a research note on Monday, February 24th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $18.80.

Hedge Funds Weigh In On Arcutis Biotherapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ARQT. Summit Investment Advisors Inc. increased its stake in shares of Arcutis Biotherapeutics by 8.0% in the 4th quarter. Summit Investment Advisors Inc. now owns 11,245 shares of the company's stock worth $157,000 after acquiring an additional 837 shares during the last quarter. Victory Capital Management Inc. raised its stake in Arcutis Biotherapeutics by 9.9% during the third quarter. Victory Capital Management Inc. now owns 12,843 shares of the company's stock worth $119,000 after purchasing an additional 1,155 shares during the period. China Universal Asset Management Co. Ltd. boosted its holdings in Arcutis Biotherapeutics by 10.4% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 24,818 shares of the company's stock valued at $346,000 after purchasing an additional 2,336 shares during the last quarter. GF Fund Management CO. LTD. acquired a new position in Arcutis Biotherapeutics in the 4th quarter valued at about $34,000. Finally, Point72 DIFC Ltd purchased a new stake in shares of Arcutis Biotherapeutics in the 3rd quarter valued at approximately $25,000.

Arcutis Biotherapeutics Company Profile

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.