Patrick J. Heron Acquires 2,520 Shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Stock

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT - Get Free Report) Director Patrick J. Heron acquired 2,520 shares of the business's stock in a transaction on Wednesday, May 21st. The stock was acquired at an average price of $13.66 per share, with a total value of $34,423.20. Following the transaction, the director now owns 20,014 shares in the company, valued at approximately $273,391.24. The trade was a 14.40% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Arcutis Biotherapeutics Stock Performance

NASDAQ:ARQT traded up $0.32 during mid-day trading on Friday, hitting $13.98. 1,192,102 shares of the stock were exchanged, compared to its average volume of 2,292,223. The firm's 50-day simple moving average is $14.60 and its 200 day simple moving average is $13.54. The stock has a market capitalization of $1.67 billion, a price-to-earnings ratio of -7.81 and a beta of 1.87. Arcutis Biotherapeutics, Inc. has a fifty-two week low of $6.99 and a fifty-two week high of $17.75. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.38 and a current ratio of 2.46.

Arcutis Biotherapeutics (NASDAQ:ARQT - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported ($0.20) EPS for the quarter, beating the consensus estimate of ($0.21) by $0.01. Arcutis Biotherapeutics had a negative net margin of 140.97% and a negative return on equity of 119.11%. The business had revenue of $65.85 million for the quarter, compared to the consensus estimate of $64.80 million. As a group, equities analysts anticipate that Arcutis Biotherapeutics, Inc. will post -1.33 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. HC Wainwright reiterated a "buy" rating and issued a $19.00 price objective on shares of Arcutis Biotherapeutics in a research report on Thursday, April 3rd. Mizuho boosted their target price on Arcutis Biotherapeutics from $20.00 to $21.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 26th. Guggenheim reiterated a "buy" rating on shares of Arcutis Biotherapeutics in a research report on Thursday, April 3rd. Needham & Company LLC restated a "buy" rating and set a $20.00 price objective on shares of Arcutis Biotherapeutics in a report on Friday. Finally, Jefferies Financial Group increased their target price on shares of Arcutis Biotherapeutics from $16.00 to $19.00 and gave the stock a "buy" rating in a report on Tuesday, March 11th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Arcutis Biotherapeutics presently has a consensus rating of "Moderate Buy" and an average target price of $18.80.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in ARQT. Barclays PLC grew its position in Arcutis Biotherapeutics by 45.8% during the third quarter. Barclays PLC now owns 253,392 shares of the company's stock worth $2,356,000 after buying an additional 79,579 shares in the last quarter. SG Americas Securities LLC grew its holdings in shares of Arcutis Biotherapeutics by 25.4% during the 4th quarter. SG Americas Securities LLC now owns 48,087 shares of the company's stock worth $670,000 after purchasing an additional 9,754 shares in the last quarter. Zweig DiMenna Associates LLC bought a new position in shares of Arcutis Biotherapeutics in the fourth quarter worth $578,000. China Universal Asset Management Co. Ltd. raised its stake in Arcutis Biotherapeutics by 10.4% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 24,818 shares of the company's stock valued at $346,000 after purchasing an additional 2,336 shares in the last quarter. Finally, Jennison Associates LLC lifted its position in Arcutis Biotherapeutics by 5.8% during the fourth quarter. Jennison Associates LLC now owns 12,339,792 shares of the company's stock worth $171,893,000 after purchasing an additional 676,295 shares during the period.

Arcutis Biotherapeutics 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.