Arcutis Biotherapeutics Inc (NASDAQ:ARQT) shares traded -5.74% lower at $10.18 on Wall Street last session.
ARQT stock price is now 34.55% away from the 50-day moving average and 58.63% away from the 200-day moving average. The market capitalization of the company currently stands at $985.53M.
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 $89.43 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 $8.9 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 $7.69 and a two-hundred day moving average price translates $6.43 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.
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 ZORYVE for the treatment of scalp and body psoriasis and seborrheic dermatitis; ARQ-252, a selective topical janus kinase type 1 inhibitor for hand eczema and vitiligo; ARQ-255, a topical JAK1 inhibitor for 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.
