Arcutis Biotherapeutics (NASDAQ:ARQT) Issues Quarterly Earnings Results

Arcutis Biotherapeutics (NASDAQ:ARQT) issued its quarterly earnings data on Wednesday. The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.10, Zacks reports. Arcutis Biotherapeutics had a negative return on equity of 29.69% and a negative net margin of 13.94%.The business had revenue of $129.50 million during the quarter, compared to analysts’ expectations of $110.79 million.

Here are the key takeaways from Arcutis Biotherapeutics’ conference call:

• Strong commercial and financial momentum: 2025 net product revenues were $372.1M (up 123% YoY), Q4 revenue was $127.5M, the company turned positive cash flow in Q4, ended the year with $221.3M in cash/marketable securities, and raised 2026 net product revenue guidance to $480–$495M while reaffirming quarterly positive cash flow for 2026.
• Commercial expansion underway: Arcutis is increasing its dermatology salesforce ~20% to ~160 reps and building an internal primary care/pediatrics team (~30 reps) to drive adoption beyond high-decile dermatologists, with management expecting impacts to begin in H2 2026 and the investments to be accretive in year one.
• Clinical and regulatory progress: Positive INTEGUMENT-INFANT Phase 2 topline data (58% EASI‑75 at Week 4) will support a planned sNDA in Q2 for infants, a PDUFA for cream 0.3% in ages 2–5 psoriasis is set for June 29, and the company is advancing POC trials in vitiligo and HS and preparing Phase 1 dosing for ARQ‑234.
• Market access gains with caveats: ZORYVE now holds ~45% of branded non‑steroidal topical volume and gained Medicare Part D coverage for ~1/3 of beneficiaries, improving access, but Medicare assigned ZORYVE to a non‑preferred tier (higher OOP) which may temper uptake and contributes to a gross‑to‑net profile management focus.
• Rising expenses and near‑term seasonality risk: SG&A and R&D spending are increasing to fund commercialization and pipeline (Q4 SG&A $79M; full‑year SG&A +20%), management expects Q1 seasonality and higher gross‑to‑net in the high‑50s, and quarter‑to‑quarter operating results may fluctuate despite full‑year positive cash flow guidance.

Arcutis Biotherapeutics Price Performance

Shares of NASDAQ ARQT opened at $27.01 on Thursday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 3.28 and a current ratio of 3.50. The firm has a fifty day moving average of $27.24 and a 200 day moving average of $23.68. The firm has a market cap of $3.31 billion, a PE ratio of -75.03 and a beta of 1.70. Arcutis Biotherapeutics has a one year low of $11.86 and a one year high of $31.77.

Analysts Set New Price Targets

Several brokerages recently weighed in on ARQT. Zacks Research cut Arcutis Biotherapeutics from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 29th. Wall Street Zen lowered shares of Arcutis Biotherapeutics from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 14th. Needham & Company LLC increased their price target on shares of Arcutis Biotherapeutics from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Monday, January 26th. The Goldman Sachs Group raised their price target on shares of Arcutis Biotherapeutics from $19.00 to $29.00 and gave the company a “neutral” rating in a research report on Thursday, October 30th. Finally, Mizuho lifted their price objective on shares of Arcutis Biotherapeutics from $32.00 to $37.00 and gave the company an “outperform” rating in a report on Friday, November 28th. Six analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Arcutis Biotherapeutics has an average rating of “Moderate Buy” and a consensus price target of $29.20.

Insider Buying and Selling at Arcutis Biotherapeutics

In other news, insider Todd Watanabe sold 19,833 shares of the business’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $25.50, for a total transaction of $505,741.50. Following the completion of the sale, the insider owned 721,306 shares of the company’s stock, valued at $18,393,303. The trade was a 2.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Masaru Matsuda sold 40,638 shares of the firm’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $25.28, for a total transaction of $1,027,328.64. Following the completion of the transaction, the insider directly owned 110,003 shares in the company, valued at $2,780,875.84. This represents a 26.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 124,656 shares of company stock valued at $3,312,365. Insiders own 9.40% of the company’s stock.

Institutional Trading of Arcutis Biotherapeutics

Institutional investors have recently made changes to their positions in the company. Global Retirement Partners LLC acquired a new position in Arcutis Biotherapeutics in the 4th quarter valued at $35,000. NewEdge Advisors LLC grew its holdings in shares of Arcutis Biotherapeutics by 209.0% during the fourth quarter. NewEdge Advisors LLC now owns 1,545 shares of the company’s stock worth $45,000 after buying an additional 1,045 shares in the last quarter. Truvestments Capital LLC raised its position in shares of Arcutis Biotherapeutics by 114.2% in the fourth quarter. Truvestments Capital LLC now owns 3,012 shares of the company’s stock valued at $87,000 after buying an additional 1,606 shares during the last quarter. Quantbot Technologies LP acquired a new stake in shares of Arcutis Biotherapeutics in the second quarter valued at about $145,000. Finally, Russell Investments Group Ltd. lifted its stake in shares of Arcutis Biotherapeutics by 4,562.5% in the second quarter. Russell Investments Group Ltd. now owns 11,190 shares of the company’s stock worth $157,000 after buying an additional 10,950 shares in the last quarter.

Key Headlines Impacting Arcutis Biotherapeutics

Here are the key news stories impacting Arcutis Biotherapeutics this week:

• Positive Sentiment: Generated better‑than‑expected Q4 results: $0.13 EPS vs. $0.03 consensus and $129.5M revenue (substantially above estimates); company raised 2026 net product sales guidance to $480M–$495M — a major driver of the rally. Arcutis Announces Fourth Quarter and Full Year 2025 Financial Results and Provides Business Update
• Positive Sentiment: Strong product momentum for ZORYVE: Q4 net product revenue of $127.5M (up 84% vs. Q4 2024) and full‑year ZORYVE sales of $372.1M (up 123% YoY) — evidence of accelerating commercial uptake. Arcutis Announces Fourth Quarter and Full Year 2025 Financial Results and Provides Business Update
• Positive Sentiment: Clinical and regulatory progress: positive topline results from the INTEGUMENT‑INFANT Phase 2 trial in 3–24 month olds and an expected sNDA submission in Q2 2026 — expands label potential and future prescription growth. Arcutis Announces Fourth Quarter and Full Year 2025 Financial Results and Provides Business Update
• Positive Sentiment: Operational moves to support growth: expanded dermatology sales force, new targeted commercialization to primary care/pediatric providers and a consumer awareness push (Max Homa campaign) to boost diagnosis and prescribing. Professional Golfer Max Homa Joins Arcutis’ Free to Be Me Campaign
• Positive Sentiment: Analyst sentiment supporting the move: brokerages aggregate a “Moderate Buy” consensus, adding validation to the raised guidance and execution narrative. Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Receives Consensus Recommendation of “Moderate Buy” from Brokerages
• Neutral Sentiment: Short‑interest data reported for February is noisy/uninformative (entries show zero and NaN values), so there’s no clear short‑squeeze signal from the available update.
• Negative Sentiment: Underlying profitability remains a concern: the company reported a negative return on equity (~‑29.7%) and negative net margin (~‑13.9%) and consensus still models a negative full‑year EPS — an important risk for investors focused on sustained profitability. Arcutis Biotherapeutics Stock Info

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.