Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $13.59 and last traded at $13.50, with a volume of 551377 shares traded. The stock had previously closed at $12.69.
Wall Street Analyst Weigh In
Several equities analysts have recently commented on the stock. Jefferies Financial Group assumed coverage on shares of Arcutis Biotherapeutics in a research note on Wednesday, August 28th. They set a "buy" rating and a $15.00 price objective for the company. Needham & Company LLC restated a "buy" rating and set a $18.00 price target on shares of Arcutis Biotherapeutics in a report on Thursday, November 7th.
Get Our Latest Stock Analysis on Arcutis Biotherapeutics
Arcutis Biotherapeutics Trading Up 6.9 %
The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.38 and a current ratio of 2.46. The firm has a market capitalization of $1.59 billion, a PE ratio of -7.58 and a beta of 1.32. The stock's 50-day simple moving average is $10.30 and its 200-day simple moving average is $9.80.
Arcutis Biotherapeutics (NASDAQ:ARQT - Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.33) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.42) by $0.09. Arcutis Biotherapeutics had a negative net margin of 140.97% and a negative return on equity of 119.11%. The company had revenue of $44.76 million for the quarter, compared to analysts' expectations of $38.05 million. As a group, sell-side analysts expect that Arcutis Biotherapeutics, Inc. will post -1.34 EPS for the current fiscal year.
Insider Transactions at Arcutis Biotherapeutics
In related news, Director Howard G. Welgus sold 10,000 shares of Arcutis Biotherapeutics stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $8.65, for a total transaction of $86,500.00. Following the completion of the transaction, the director now directly owns 171,944 shares of the company's stock, valued at $1,487,315.60. This trade represents a 5.50 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO David Joseph Topper sold 11,626 shares of the company's stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $9.48, for a total transaction of $110,214.48. Following the completion of the sale, the chief financial officer now owns 158,374 shares in the company, valued at approximately $1,501,385.52. This trade represents a 6.84 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 76,951 shares of company stock valued at $770,144. Corporate insiders own 9.50% of the company's stock.
Institutional Investors Weigh In On Arcutis Biotherapeutics
A number of institutional investors have recently modified their holdings of the stock. Jennison Associates LLC boosted its stake in Arcutis Biotherapeutics by 0.8% in the 3rd quarter. Jennison Associates LLC now owns 11,663,497 shares of the company's stock worth $108,471,000 after purchasing an additional 91,803 shares in the last quarter. Rubric Capital Management LP lifted its stake in shares of Arcutis Biotherapeutics by 11.7% in the third quarter. Rubric Capital Management LP now owns 10,966,672 shares of the company's stock worth $101,990,000 after buying an additional 1,150,000 shares in the last quarter. Suvretta Capital Management LLC lifted its stake in shares of Arcutis Biotherapeutics by 7.2% in the third quarter. Suvretta Capital Management LLC now owns 10,721,511 shares of the company's stock worth $99,710,000 after buying an additional 717,019 shares in the last quarter. State Street Corp grew its holdings in shares of Arcutis Biotherapeutics by 9.9% during the third quarter. State Street Corp now owns 5,641,631 shares of the company's stock valued at $52,467,000 after buying an additional 506,788 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Arcutis Biotherapeutics by 2.0% during the third quarter. Geode Capital Management LLC now owns 2,470,138 shares of the company's stock valued at $22,977,000 after acquiring an additional 48,868 shares in the last quarter.
Arcutis Biotherapeutics Company Profile
(
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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