In yesterday’s Wall Street session, Arcutis Biotherapeutics Inc (NASDAQ:ARQT) shares traded at $10.94, down -1.08% from the previous session.
ARQT stock price is now 58.58% away from the 50-day moving average and 72.21% away from the 200-day moving average. The market capitalization of the company currently stands at $1.06B.
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With the price target enhanced from $4 to $8, Mizuho Upgraded its rating from Neutral to Buy for Arcutis Biotherapeutics Inc (NASDAQ: ARQT). On October 26, 2023, Mizuho Downgraded its previous ‘Buy’ rating to ‘Neutral’ on the stock reducing its target price from $57 to quote $4, while ‘Goldman’ rates the stock as ‘Neutral’
In other news, Heron Patrick J, Director bought 21,052 shares of the company’s stock on Mar 04 ’24. The stock was bought for $199,994 at an average price of $9.50. Upon completion of the transaction, the Director now directly owns 8,785,284 shares in the company, valued at $96.11 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Mar 04 ’24, Watanabe Todd Franklin sold 14,903 shares of the business’s stock. A total of $165,739 was realized by selling the stock at an average price of $11.12. This leaves the insider owning 874,533 shares of the company worth $9.57 million. A total of 8.72% of the company’s stock is owned by insiders.
During the past 12 months, Arcutis Biotherapeutics Inc has had a low of $1.76 and a high of $15.40. As of last week, the company has a debt-to-equity ratio of 2.32, a current ratio of 7.08, and a quick ratio of 6.80. The fifty day moving average price for ARQT is $7.05 and a two-hundred day moving average price translates $6.37 for the stock.
The latest earnings results from Arcutis Biotherapeutics Inc (NASDAQ: ARQT) was released for Dec, 2023. According to the Biotechnology Company, earnings per share came in at -$0.72, beating analysts’ expectations of -$0.77 by 0.05. This compares to -$1.19 EPS in the same period last year. The net profit margin was -8449.76% and return on equity was -122.80% for ARQT. The company reported revenue of $13.53 million for the quarter, compared to $2.96 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 356.81 percent. For the current quarter, analysts expect ARQT to generate $13.94M in revenue.
