FY2024 Earnings Estimate for ARQT Issued By HC Wainwright

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT - Free Report) - HC Wainwright issued their FY2024 earnings per share (EPS) estimates for Arcutis Biotherapeutics in a note issued to investors on Monday, December 30th. HC Wainwright analyst D. Tsao forecasts that the company will post earnings of ($1.41) per share for the year. HC Wainwright has a "Buy" rating and a $19.00 price objective on the stock. The consensus estimate for Arcutis Biotherapeutics' current full-year earnings is ($1.34) per share. HC Wainwright also issued estimates for Arcutis Biotherapeutics' Q4 2024 earnings at ($0.33) EPS, Q1 2025 earnings at ($0.30) EPS, Q2 2025 earnings at ($0.27) EPS, Q3 2025 earnings at ($0.25) EPS, Q4 2025 earnings at ($0.30) EPS, FY2025 earnings at ($1.13) EPS, FY2026 earnings at ($0.23) EPS, FY2027 earnings at $0.94 EPS and FY2028 earnings at $1.64 EPS.

Separately, Needham & Company LLC reaffirmed a "buy" rating and issued a $18.00 target price on shares of Arcutis Biotherapeutics in a report on Thursday, November 7th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $16.20.

Arcutis Biotherapeutics Price Performance

Shares of NASDAQ:ARQT traded down $0.27 during trading on Wednesday, hitting $13.93. 1,294,812 shares of the company were exchanged, compared to its average volume of 3,100,606. Arcutis Biotherapeutics has a 1-year low of $3.07 and a 1-year high of $15.79. The company has a market capitalization of $1.63 billion, a P/E ratio of -7.78 and a beta of 1.32. 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 business's 50 day moving average is $11.62 and its 200-day moving average is $10.36.

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 analyst estimates of $38.05 million.

Insider Buying and Selling

In other Arcutis Biotherapeutics news, Director Howard G. Welgus sold 10,000 shares of the firm's stock in a transaction that occurred on 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 owns 171,944 shares in the company, valued at approximately $1,487,315.60. This trade represents a 5.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Masaru Matsuda sold 5,015 shares of the business's stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $8.68, for a total transaction of $43,530.20. Following the completion of the transaction, the insider now owns 178,273 shares in the company, valued at $1,547,409.64. This trade represents a 2.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 68,291 shares of company stock valued at $781,266 in the last three months. Insiders own 9.50% of the company's stock.

Institutional Trading of Arcutis Biotherapeutics

A number of large investors have recently bought and sold shares of ARQT. Bank of New York Mellon Corp lifted its stake in shares of Arcutis Biotherapeutics by 25.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 390,202 shares of the company's stock valued at $3,629,000 after purchasing an additional 80,078 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Arcutis Biotherapeutics during the 2nd quarter worth approximately $174,000. Rhumbline Advisers increased its stake in shares of Arcutis Biotherapeutics by 33.5% in the 2nd quarter. Rhumbline Advisers now owns 167,289 shares of the company's stock valued at $1,556,000 after acquiring an additional 41,956 shares in the last quarter. Arizona State Retirement System acquired a new position in shares of Arcutis Biotherapeutics during the 2nd quarter valued at $269,000. Finally, Candriam S.C.A. bought a new position in Arcutis Biotherapeutics during the second quarter worth $12,159,000.

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.