Arcutis Biotherapeutics (NASDAQ:ARQT) Issues Earnings Results, Beats Expectations By $0.28 EPS

Arcutis Biotherapeutics (NASDAQ:ARQTGet Free Report) posted its quarterly earnings results on Tuesday. The company reported ($0.32) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.60) by $0.28, Zacks reports. Arcutis Biotherapeutics had a negative net margin of 439.79% and a negative return on equity of 294.85%. The business had revenue of $49.57 million for the quarter. During the same period last year, the company earned ($1.31) earnings per share.

Arcutis Biotherapeutics Trading Down 1.3 %

NASDAQ:ARQT opened at $9.12 on Friday. Arcutis Biotherapeutics has a 12 month low of $1.76 and a 12 month high of $13.17. The business’s 50-day moving average is $9.64 and its two-hundred day moving average is $6.28. The company has a debt-to-equity ratio of 2.28, a current ratio of 7.08 and a quick ratio of 6.80. The firm has a market capitalization of $1.05 billion, a PE ratio of -3.11 and a beta of 1.18.

Insider Activity

In related news, insider Masaru Matsuda sold 3,760 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $11.12, for a total transaction of $41,811.20. Following the transaction, the insider now directly owns 190,424 shares of the company’s stock, valued at approximately $2,117,514.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 20.70% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on ARQT shares. Mizuho upped their target price on Arcutis Biotherapeutics from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Wednesday. Needham & Company LLC increased their price objective on Arcutis Biotherapeutics from $16.00 to $18.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, The Goldman Sachs Group boosted their target price on shares of Arcutis Biotherapeutics from $6.00 to $11.00 and gave the company a “neutral” rating in a research note on Wednesday, February 28th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $27.00.

Read Our Latest Analysis on Arcutis Biotherapeutics

About Arcutis Biotherapeutics

(Get Free Report)

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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Earnings History for Arcutis Biotherapeutics (NASDAQ:ARQT)

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