Patrick J. Heron Buys 2,646 Shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Stock

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT - Get Free Report) Director Patrick J. Heron purchased 2,646 shares of the firm's stock in a transaction on Friday, June 13th. The stock was bought at an average cost of $13.08 per share, with a total value of $34,609.68. Following the completion of the acquisition, the director now directly owns 27,448 shares of the company's stock, valued at $359,019.84. This trade represents a 10.67% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Arcutis Biotherapeutics Price Performance

Shares of Arcutis Biotherapeutics stock traded down $0.14 on Tuesday, reaching $13.26. The company's stock had a trading volume of 1,627,002 shares, compared to its average volume of 2,249,317. The company has a market capitalization of $1.58 billion, a P/E ratio of -12.75 and a beta of 1.76. Arcutis Biotherapeutics, Inc. has a 52-week low of $7.64 and a 52-week high of $17.75. The stock has a 50-day moving average price of $13.87 and a 200-day moving average price of $13.96. The company has a quick ratio of 3.37, a current ratio of 3.55 and a debt-to-equity ratio of 0.75.

Arcutis Biotherapeutics (NASDAQ:ARQT - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported ($0.20) EPS for the quarter, beating analysts' consensus estimates of ($0.21) by $0.01. The business had revenue of $65.85 million during the quarter, compared to analysts' expectations of $64.80 million. Arcutis Biotherapeutics had a negative return on equity of 80.66% and a negative net margin of 60.95%. Analysts expect that Arcutis Biotherapeutics, Inc. will post -1.33 EPS for the current year.

Institutional Trading of Arcutis Biotherapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in the business. GF Fund Management CO. LTD. purchased a new stake in shares of Arcutis Biotherapeutics during the fourth quarter worth approximately $34,000. Venturi Wealth Management LLC purchased a new stake in shares of Arcutis Biotherapeutics during the fourth quarter worth approximately $46,000. Amalgamated Bank increased its position in shares of Arcutis Biotherapeutics by 39.4% during the first quarter. Amalgamated Bank now owns 3,723 shares of the company's stock worth $58,000 after purchasing an additional 1,053 shares in the last quarter. KBC Group NV purchased a new stake in shares of Arcutis Biotherapeutics during the first quarter worth approximately $84,000. Finally, Nkcfo LLC purchased a new stake in shares of Arcutis Biotherapeutics during the first quarter worth approximately $109,000.

Analyst Upgrades and Downgrades

ARQT has been the subject of a number of analyst reports. Mizuho boosted their price target on Arcutis Biotherapeutics from $20.00 to $21.00 and gave the company an "outperform" rating in a report on Wednesday, February 26th. Guggenheim reissued a "buy" rating on shares of Arcutis Biotherapeutics in a report on Thursday, April 3rd. Needham & Company LLC reissued a "buy" rating and issued a $20.00 price target on shares of Arcutis Biotherapeutics in a report on Friday, May 23rd. HC Wainwright reissued a "buy" rating and issued a $19.00 price target on shares of Arcutis Biotherapeutics in a report on Thursday, April 3rd. Finally, Jefferies Financial Group boosted their price target on Arcutis Biotherapeutics from $16.00 to $19.00 and gave the company a "buy" rating in a report on Tuesday, March 11th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, Arcutis Biotherapeutics presently has an average rating of "Moderate Buy" and an average target price of $18.80.

About Arcutis Biotherapeutics

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.

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