The stock of Arcutis Biotherapeutics Inc (NASDAQ:ARQT) last traded at $2.39, down -1.04% from the previous session.
Data from the available sources indicates that Arcutis Biotherapeutics Inc (NASDAQ:ARQT) is covered by 8 analysts. The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $57.00 and a low of $6.00, we find $44.50. Given the previous closing price of $2.41, this indicates a potential upside of 1746.47 percent. ARQT stock price is now -61.64% away from the 50-day moving average and -77.65% away from the 200-day moving average. The market capitalization of the company currently stands at $147.34M.
In total, 1 analysts have assigned it a hold rating, and 7 have given it a buy rating. Brokers who have rated the stock have averaged $36.63 as their price target over the next twelve months.
With the price target reduced from $32 to $6, Goldman Downgraded its rating from Buy to Neutral for Arcutis Biotherapeutics Inc (NASDAQ: ARQT).
In other news, Burnett Patrick, insider sold 1,605 shares of the company’s stock on Aug 21. The stock was sold for $11,302 at an average price of $7.04. Upon completion of the transaction, the insider now directly owns 58,357 shares in the company, valued at $0.14 million. An SEC document containing details of the transaction can be found on the SEC’s website. On May 31, See Remark Matsuda Masaru sold 1,830 shares of the business’s stock. A total of $14,278 was realized by selling the stock at an average price of $7.80. This leaves the insider owning 42,146 shares of the company worth $0.1 million. Insiders disposed of 72,083 shares of company stock worth roughly $0.17 million over the past 1 year. A total of 27.52% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in ARQT stock. A new stake in Arcutis Biotherapeutics Inc shares was purchased by CORMORANT ASSET MANAGEMENT, LP during the first quarter worth $1,912,000. UNISUPER MANAGEMENT PTY LTD invested $813,000 in shares of ARQT during the first quarter. In the first quarter, SIO CAPITAL MANAGEMENT, LLC acquired a new stake in Arcutis Biotherapeutics Inc valued at approximately $700,000. TWO SEAS CAPITAL LP acquired a new stake in ARQT for approximately $555,000. MAN GROUP PLC purchased a new stake in ARQT valued at around $231,000 in the second quarter. In total, there are 211 active investors with 95.66% ownership of the company’s stock.
With an opening price of $2.4700 on Tuesday morning, Arcutis Biotherapeutics Inc (NASDAQ: ARQT) set off the trading day. During the past 12 months, Arcutis Biotherapeutics Inc has had a low of $2.16 and a high of $20.11. As of last week, the company has a debt-to-equity ratio of 2.54, a current ratio of 8.43, and a quick ratio of 8.14. The fifty day moving average price for ARQT is $6.1038 and a two-hundred day moving average price translates $10.6304 for the stock.
The latest earnings results from Arcutis Biotherapeutics Inc (NASDAQ: ARQT) was released for Jun, 2023. According to the Biotechnology Company, earnings per share came in at -$1.16, beating analysts’ expectations of -$1.25 by 0.09. This compares to -$1.31 EPS in the same period last year. The net profit margin was -8449.76% and return on equity was -122.80% for ARQT. For the current quarter, analysts expect ARQT to generate $26.95M in revenue.
Arcutis Biotherapeutics Inc(ARQT) 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. The company is also developing ARQ-154, a topical foam formulation of roflumilast for the treatment of seborrheic dermatitis and scalp psoriasis; ARQ-252, a selective topical janus kinase type 1 inhibitor for hand eczema and vitiligo; ARQ-255, a topical formulation of ivarmacitinib designed to reach deeper into the skin in order to treat alopecia areata; and ARQ-234, a CD200R fusion protein for the treatment of moderate-to-severe atopic dermatitis. The company was formerly known as Arcutis, Inc. and changed its name to Arcutis Biotherapeutics, Inc. in October 2019. Arcutis Biotherapeutics, Inc. was incorporated in 2016 and is headquartered in Westlake Village, California.
