Arcutis Biotherapeutics (NASDAQ:ARQT) EVP Masaru Matsuda Sells 40,000 Shares of Company Stock

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) EVP Masaru Matsuda sold 40,000 shares of the company’s stock in a transaction on Wednesday, November 4th. The shares were sold at an average price of $34.32, for a total transaction of $1,372,800.00. Following the sale, the executive vice president directly owned 111,289 shares in the company, valued at approximately $3,819,438.48. The trade was a 26.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Masaru Matsuda also recently made the following trade(s):

• On Monday, November 2nd, Masaru Matsuda sold 1,219 shares of Arcutis Biotherapeutics stock. The shares were sold at an average price of $31.86, for a total transaction of $38,837.34.
• On Wednesday, September 16th, Masaru Matsuda sold 3,674 shares of Arcutis Biotherapeutics stock. The stock was sold at an average price of $25.00, for a total transaction of $91,850.00.
• On Tuesday, September 8th, Masaru Matsuda sold 9,989 shares of Arcutis Biotherapeutics stock. The stock was sold at an average price of $25.03, for a total transaction of $250,024.67.

Arcutis Biotherapeutics Stock Performance

Arcutis Biotherapeutics stock opened at $34.05 on Thursday. The company’s 50-day moving average price is $27.11 and its 200-day moving average price is $25.37. Arcutis Biotherapeutics, Inc. has a twelve month low of $19.30 and a twelve month high of $34.80. 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 market cap of $4.28 billion, a PE ratio of 152.38 and a beta of 1.66.

Arcutis Biotherapeutics (NASDAQ:ARQT) last announced its earnings results on Wednesday, November 4th. The company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.12). Arcutis Biotherapeutics had a net margin of 6.15% and a return on equity of 15.05%. The business had revenue of $143.92 million for the quarter, compared to analysts’ expectations of $142.59 million. On average, equities research analysts forecast that Arcutis Biotherapeutics, Inc. will post 0.43 EPS for the current fiscal year.

Hedge Funds Weigh In On Arcutis Biotherapeutics

Hedge funds have recently added to or reduced their stakes in the company. Fulcrum Asset Management LLP purchased a new stake in shares of Arcutis Biotherapeutics in the third quarter worth approximately $2,628,000. Candriam S.C.A. lifted its stake in shares of Arcutis Biotherapeutics by 5.7% during the 3rd quarter. Candriam S.C.A. now owns 1,003,729 shares of the company’s stock worth $26,625,000 after acquiring an additional 53,890 shares during the last quarter. Oregon Public Employees Retirement Fund bought a new stake in shares of Arcutis Biotherapeutics during the 3rd quarter worth approximately $679,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in Arcutis Biotherapeutics during the 3rd quarter valued at $170,000. Finally, Profund Advisors LLC boosted its holdings in Arcutis Biotherapeutics by 19.3% during the 3rd quarter. Profund Advisors LLC now owns 49,700 shares of the company’s stock valued at $1,314,000 after acquiring an additional 8,045 shares during the period.

Key Arcutis Biotherapeutics News

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

• Positive Sentiment: Third-quarter revenue was $143.92 million, slightly above analysts’ $142.59 million estimate, providing a positive counterpoint to the earnings shortfall. MarketBeat earnings report
• Neutral Sentiment: Several executives sold shares to cover tax withholding on vested equity awards. Most sales were relatively small; EVP Masaru Matsuda also sold 40,000 shares under a pre-arranged Rule 10b5-1 plan, reducing his reported holdings by 26.44%. The stated tax-related and planned nature of the transactions makes them less clearly bearish, though the larger sale may draw investor attention. SEC insider filing
• Negative Sentiment: Adjusted quarterly earnings were $0.06 per share, below consensus estimates of approximately $0.17–$0.18 and unchanged from a year earlier. The miss could weigh on sentiment despite the revenue beat. Zacks earnings report

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Jefferies Financial Group reiterated a “buy” rating and issued a $39.00 target price on shares of Arcutis Biotherapeutics in a report on Thursday, October 8th. Guggenheim increased their price target on Arcutis Biotherapeutics from $38.00 to $44.00 and gave the company a “buy” rating in a report on Monday, October 19th. Weiss Ratings upgraded Arcutis Biotherapeutics from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, October 29th. Cantor Fitzgerald assumed coverage on Arcutis Biotherapeutics in a research report on Thursday, October 15th. They issued an “overweight” rating and a $48.00 price target for the company. Finally, Needham & Company LLC lifted their price objective on shares of Arcutis Biotherapeutics from $36.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Eight analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $39.12.

Arcutis Biotherapeutics Company Profile

Arcutis Biotherapeutics, Inc is a commercial-stage biopharmaceutical company focused on developing and delivering treatments for dermatologic conditions. The company’s portfolio is centered on therapies designed to address inflammatory skin diseases, with an emphasis on nonsteroidal topical medicines that may help patients manage chronic conditions.

Arcutis’s lead product is ZORYVE (roflumilast), a topical phosphodiesterase-4 inhibitor. ZORYVE has received U.S. Food and Drug Administration approvals for multiple dermatological uses, including plaque psoriasis, seborrheic dermatitis and atopic dermatitis, in different cream and foam formulations.