Arcutis Biotherapeutics (NASDAQ:ARQT) Director Sells 4,728 Shares of Stock

Key Points

• Director Howard Welgus sold 4,728 Arcutis Biotherapeutics shares at an average price of $26.93, generating approximately $127,325. The Rule 10b5-1 transaction reduced his holdings by 11.84% to 35,207 shares.
• Arcutis shares rose 10.7% to $31.89, near the company’s 52-week high of $33.01. The company recently exceeded quarterly earnings and revenue expectations, reporting $0.11 EPS and $129.86 million in revenue.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $38.00; recent targets range from $39 to $48.

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT - Get Free Report) Director Howard Welgus sold 4,728 shares of Arcutis Biotherapeutics stock in a transaction on Thursday, October 15th. The shares were sold at an average price of $26.93, for a total transaction of $127,325.04. Following the completion of the transaction, the director owned 35,207 shares in the company, valued at approximately $948,124.51. This trade represents a 11.84% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Arcutis Biotherapeutics Trading Up 10.7%

Shares of NASDAQ ARQT traded up $3.07 during trading on Monday, hitting $31.89. 5,789,584 shares of the company traded hands, compared to its average volume of 1,821,800. Arcutis Biotherapeutics, Inc. has a 1 year low of $19.30 and a 1 year high of $33.01. The company has a 50-day moving average price of $25.45 and a 200-day moving average price of $24.83. The firm has a market capitalization of $4.01 billion, a P/E ratio of 151.86 and a beta of 1.57. The company has a quick ratio of 2.67, a current ratio of 2.92 and a debt-to-equity ratio of 0.46.

Arcutis Biotherapeutics (NASDAQ:ARQT - Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.05. Arcutis Biotherapeutics had a return on equity of 15.05% and a net margin of 6.15%. The business had revenue of $129.86 million for the quarter, compared to analyst estimates of $118.85 million. On average, equities analysts predict that Arcutis Biotherapeutics, Inc. will post 0.43 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Jefferies Financial Group restated a "buy" rating and issued a $39.00 price objective on shares of Arcutis Biotherapeutics in a report on Thursday, October 8th. Cantor Fitzgerald assumed coverage on shares of Arcutis Biotherapeutics in a research report on Thursday. They set an "overweight" rating and a $48.00 target price for the company. Morgan Stanley increased their target price 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. Guggenheim raised their price target on shares of Arcutis Biotherapeutics from $38.00 to $44.00 and gave the company a "buy" rating in a report on Monday. Finally, Needham & Company LLC lifted their price target on shares of Arcutis Biotherapeutics from $36.00 to $40.00 and gave the company a "buy" rating in a research report on Thursday, August 6th. Eight analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Arcutis Biotherapeutics presently has a consensus rating of "Moderate Buy" and an average target price of $38.00.

Institutional Trading of Arcutis Biotherapeutics

A number of institutional investors have recently added to or reduced their stakes in the business. Montanova Capital LLC raised its position in Arcutis Biotherapeutics by 0.9% in the second quarter. Montanova Capital LLC now owns 12,437,000 shares of the company's stock valued at $326,098,000 after purchasing an additional 110,000 shares during the period. BlackRock Inc. purchased a new stake in shares of Arcutis Biotherapeutics in the second quarter worth about $276,502,000. Bank of America Corp DE acquired a new stake in shares of Arcutis Biotherapeutics in the second quarter valued at about $78,330,000. Janus Henderson Group PLC grew its stake in shares of Arcutis Biotherapeutics by 1.3% in the first quarter. Janus Henderson Group PLC now owns 1,854,566 shares of the company's stock valued at $43,684,000 after buying an additional 24,505 shares in the last quarter. Finally, Jupiter Topco LLC acquired a new stake in shares of Arcutis Biotherapeutics in the second quarter valued at about $36,989,000.

Arcutis Biotherapeutics Company Profile

Arcutis Biotherapeutics, Inc NASDAQ: ARQT is a biopharmaceutical company focused on developing and commercializing treatments for dermatologic conditions. The company concentrates on medical dermatology, with an emphasis on addressing diseases that can significantly affect patients' quality of life and for which additional treatment options are needed.

Arcutis's primary commercial product is ZORYVE (roflumilast), a topical phosphodiesterase-4 inhibitor available in multiple formulations.

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