Arcutis Biotherapeutics (NASDAQ:ARQT) Director Terrie Curran Sells 1,072 Shares of Stock

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Director Terrie Curran sold 1,072 shares of the stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $26.04, for a total transaction of $27,914.88. Following the completion of the sale, the director directly owned 23,526 shares in the company, valued at approximately $612,617.04. This represents a 4.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Arcutis Biotherapeutics Stock Down 1.2%

Shares of ARQT stock traded down $0.30 on Monday, reaching $24.78. 1,128,431 shares of the stock were exchanged, compared to its average volume of 1,571,281. The company has a market capitalization of $3.11 billion, a price-to-earnings ratio of 118.01 and a beta of 1.49. The business’s 50 day moving average price is $26.77 and its 200 day moving average price is $24.68. The company has a current ratio of 2.92, a quick ratio of 2.67 and a debt-to-equity ratio of 0.46. Arcutis Biotherapeutics, Inc. has a twelve month low of $15.10 and a twelve month high of $31.77.

Arcutis Biotherapeutics (NASDAQ:ARQT) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.05. The company had revenue of $129.86 million during the quarter, compared to the consensus estimate of $118.85 million. Arcutis Biotherapeutics had a return on equity of 15.05% and a net margin of 6.15%. As a group, sell-side analysts expect that Arcutis Biotherapeutics, Inc. will post 0.4 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have commented on ARQT shares. Needham & Company LLC increased their price target on shares of Arcutis Biotherapeutics from $36.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Morgan Stanley boosted their price objective on shares of Arcutis Biotherapeutics from $34.00 to $38.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Wall Street Zen raised shares of Arcutis Biotherapeutics from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 8th. Weiss Ratings upgraded shares of Arcutis Biotherapeutics from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday. Finally, Guggenheim upped their price objective on shares of Arcutis Biotherapeutics from $35.00 to $38.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Six research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $35.57.

Institutional Investors Weigh In On Arcutis Biotherapeutics

Large investors have recently modified their holdings of the company. SBI Securities Co. Ltd. grew its position in shares of Arcutis Biotherapeutics by 325.4% during the fourth quarter. SBI Securities Co. Ltd. now owns 1,089 shares of the company’s stock worth $32,000 after acquiring an additional 833 shares during the last quarter. Global Retirement Partners LLC acquired a new position in Arcutis Biotherapeutics in the fourth quarter valued at $35,000. EverSource Wealth Advisors LLC raised its holdings in shares of Arcutis Biotherapeutics by 124.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,261 shares of the company’s stock valued at $37,000 after buying an additional 698 shares during the last quarter. NewEdge Advisors LLC grew its holdings in shares of Arcutis Biotherapeutics by 209.0% during the fourth quarter. NewEdge Advisors LLC now owns 1,545 shares of the company’s stock worth $45,000 after buying an additional 1,045 shares during the last quarter. Finally, Nykredit A S purchased a new position in shares of Arcutis Biotherapeutics during the second quarter worth about $63,000.

About Arcutis Biotherapeutics

Arcutis Biotherapeutics is a clinical-stage biopharmaceutical company focused on developing and commercializing innovative therapies for immuno-inflammatory skin diseases. The company’s research and development efforts center on targeted treatments that address the underlying biology of conditions such as plaque psoriasis, atopic dermatitis, seborrheic dermatitis and vitiligo. Arcutis employs a precision-medicine approach to deliver topical therapies designed to improve efficacy and tolerability compared with existing treatment options.

In August 2022, Arcutis received U.S.