Arcutis Biotherapeutics (NASDAQ:ARQT) Director Howard Welgus Sells 4,730 Shares

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Director Howard Welgus sold 4,730 shares of the business’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $26.18, for a total value of $123,831.40. Following the completion of the transaction, the director directly owned 36,475 shares of the company’s stock, valued at approximately $954,915.50. The trade was a 11.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Arcutis Biotherapeutics Stock Down 0.3%

Arcutis Biotherapeutics stock opened at $26.46 on Thursday. The stock has a market capitalization of $3.33 billion, a PE ratio of 126.01 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 company has a quick ratio of 2.67, a current ratio of 2.92 and a debt-to-equity ratio of 0.46. The company has a 50 day moving average of $26.74 and a 200-day moving average of $24.68.

Arcutis Biotherapeutics (NASDAQ:ARQT) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.05. The company had revenue of $129.86 million during the quarter, compared to analysts’ expectations of $118.85 million. Arcutis Biotherapeutics had a net margin of 6.15% and a return on equity of 15.05%. On average, equities research analysts anticipate that Arcutis Biotherapeutics, Inc. will post 0.4 EPS for the current fiscal year.

Hedge Funds Weigh In On Arcutis Biotherapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the business. Focus Partners Wealth increased its holdings 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 buying an additional 490 shares in the last quarter. Schroder Investment Management Group grew its position in Arcutis Biotherapeutics by 1.1% during the 4th quarter. Schroder Investment Management Group now owns 57,136 shares of the company’s stock worth $1,604,000 after acquiring an additional 594 shares during the last quarter. EverSource Wealth Advisors LLC increased 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 worth $37,000 after purchasing an additional 698 shares in the last quarter. Entropy Technologies LP increased 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 worth $353,000 after purchasing an additional 792 shares in the last quarter. Finally, DNB Asset Management AS raised its position in Arcutis Biotherapeutics by 3.0% in the fourth quarter. DNB Asset Management AS now owns 27,786 shares of the company’s stock valued at $807,000 after purchasing an additional 802 shares during the last quarter.

Wall Street Analysts Forecast Growth

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

About Arcutis Biotherapeutics

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.