Terrie Curran Sells 38,200 Shares of Arcutis Biotherapeutics (NASDAQ:ARQT) Stock

Key Points

• Director Terrie Curran sold 38,200 Arcutis Biotherapeutics shares at an average price of $25.03, generating $956,146. The sale reduced her direct holdings by 61.89% to 23,526 shares.
• ARQT shares fell $1.09 to $23.78, while the company reported quarterly revenue of $129.86 million and EPS of $0.11, exceeding analyst expectations.
• Analysts remain generally positive, with six Buy ratings and three Holds; the stock has a “Moderate Buy” consensus and an average price target of $35.57.

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT - Get Free Report) Director Terrie Curran sold 38,200 shares of Arcutis Biotherapeutics stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $25.03, for a total value of $956,146.00. Following the transaction, the director directly owned 23,526 shares in the company, valued at approximately $588,855.78. This trade represents a 61.89% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Terrie Curran also recently made the following trade(s):

• On Thursday, August 20th, Terrie Curran sold 1,072 shares of Arcutis Biotherapeutics stock. The shares were sold at an average price of $26.04, for a total value of $27,914.88.

Arcutis Biotherapeutics Stock Performance

Shares of ARQT stock traded down $1.09 during trading hours on Friday, hitting $23.78. The stock had a trading volume of 1,535,859 shares, compared to its average volume of 1,574,629. The firm has a market capitalization of $2.99 billion, a PE ratio of 113.24 and a beta of 1.49. Arcutis Biotherapeutics, Inc. has a twelve month low of $15.10 and a twelve month high of $31.77. The stock's 50 day moving average is $26.69 and its 200 day moving average is $24.64. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.92 and a quick ratio of 2.67.

Arcutis Biotherapeutics (NASDAQ:ARQT - Get Free Report) last announced its 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. Arcutis Biotherapeutics had a net margin of 6.15% and a return on equity of 15.05%. The business had revenue of $129.86 million for the quarter, compared to analyst estimates of $118.85 million. As a group, research analysts forecast that Arcutis Biotherapeutics, Inc. will post 0.4 earnings per share for the current fiscal year.

Institutional Trading of Arcutis Biotherapeutics

Several hedge funds have recently made changes to their positions in the company. Focus Partners Wealth increased its stake in shares of Arcutis Biotherapeutics by 0.8% during the third quarter. Focus Partners Wealth now owns 65,196 shares of the company's stock worth $1,237,000 after acquiring an additional 490 shares during the period. Schroder Investment Management Group boosted its holdings in Arcutis Biotherapeutics by 1.1% in the 4th quarter. Schroder Investment Management Group now owns 57,136 shares of the company's stock valued at $1,604,000 after purchasing an additional 594 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Arcutis Biotherapeutics by 124.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,261 shares of the company's stock valued at $37,000 after purchasing an additional 698 shares in the last quarter. Entropy Technologies LP boosted its holdings in Arcutis Biotherapeutics by 7.0% in the 4th quarter. Entropy Technologies LP now owns 12,144 shares of the company's stock valued at $353,000 after purchasing an additional 792 shares in the last quarter. Finally, DNB Asset Management AS increased its position in Arcutis Biotherapeutics by 3.0% during the 4th quarter. DNB Asset Management AS now owns 27,786 shares of the company's stock worth $807,000 after purchasing an additional 802 shares during the period.

Analysts Set New Price Targets

Several brokerages have recently weighed in on ARQT. Needham & Company LLC increased their target price on shares of Arcutis Biotherapeutics from $36.00 to $40.00 and gave the stock a "buy" rating in a research note on Thursday, August 6th. Weiss Ratings raised Arcutis Biotherapeutics from a "hold (c-)" rating to a "hold (c)" rating in a research note on Thursday, August 20th. Morgan Stanley increased their price objective on Arcutis Biotherapeutics from $34.00 to $38.00 and gave the stock an "overweight" rating in a research report on Thursday, August 6th. Guggenheim lifted their target price on Arcutis Biotherapeutics from $35.00 to $38.00 and gave the company a "buy" rating in a research note on Thursday, August 6th. Finally, Wall Street Zen upgraded Arcutis Biotherapeutics from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 8th. Six equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $35.57.

Arcutis Biotherapeutics Company Profile

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.

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