Arcutis Biotherapeutics (NASDAQ:ARQT) Insider Masaru Matsuda Sells 3,674 Shares

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) insider Masaru Matsuda sold 3,674 shares of the stock in a transaction that occurred on Wednesday, September 16th. The stock was sold at an average price of $25.00, for a total transaction of $91,850.00. Following the completion of the sale, the insider directly owned 112,508 shares of the company’s stock, valued at $2,812,700. This represents a 3.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• 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.
• On Monday, August 3rd, Masaru Matsuda sold 1,230 shares of Arcutis Biotherapeutics stock. The shares were sold at an average price of $26.12, for a total transaction of $32,127.60.

Arcutis Biotherapeutics Stock Down 4.2%

ARQT opened at $25.34 on Friday. The stock has a market cap of $3.19 billion, a price-to-earnings ratio of 120.69 and a beta of 1.50. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.67 and a current ratio of 2.92. The firm’s fifty day moving average is $25.86 and its 200 day moving average is $24.37. Arcutis Biotherapeutics, Inc. has a fifty-two week low of $16.57 and a fifty-two week high of $31.77.

Arcutis Biotherapeutics (NASDAQ:ARQT) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.06 by $0.05. The business had revenue of $129.86 million for the quarter, compared to the consensus estimate of $118.85 million. Arcutis Biotherapeutics had a return on equity of 15.05% and a net margin of 6.15%. On average, sell-side analysts forecast that Arcutis Biotherapeutics, Inc. will post 0.42 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on ARQT. Wall Street Zen upgraded shares of Arcutis Biotherapeutics from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 8th. Morgan Stanley raised their target price 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. Needham & Company LLC lifted their price target on shares of Arcutis Biotherapeutics from $36.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Guggenheim boosted their price target on shares of Arcutis Biotherapeutics from $35.00 to $38.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Finally, Weiss Ratings downgraded shares of Arcutis Biotherapeutics from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, September 8th. Six analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, Arcutis Biotherapeutics has a consensus rating of “Moderate Buy” and an average target price of $35.57.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Montanova Capital LLC increased its position in Arcutis Biotherapeutics by 0.9% in the second quarter. Montanova Capital LLC now owns 12,437,000 shares of the company’s stock worth $326,098,000 after purchasing an additional 110,000 shares during the last quarter. BlackRock Inc. purchased a new position in shares of Arcutis Biotherapeutics in the 2nd quarter worth $276,502,000. Polar Capital Holdings Plc grew its stake in shares of Arcutis Biotherapeutics by 4.9% in the 4th quarter. Polar Capital Holdings Plc now owns 5,556,169 shares of the company’s stock worth $161,351,000 after buying an additional 257,415 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Arcutis Biotherapeutics by 5.6% in the 4th quarter. Geode Capital Management LLC now owns 2,753,307 shares of the company’s stock worth $79,967,000 after buying an additional 146,842 shares during the last quarter. Finally, Bank of America Corp DE bought a new stake in shares of Arcutis Biotherapeutics in the 2nd quarter worth about $78,330,000.

Arcutis Biotherapeutics Company Profile

Arcutis Biotherapeutics, Inc is a biopharmaceutical company focused on developing and commercializing treatments for immune-mediated dermatological conditions. The company’s research and development activities are centered on therapies intended to address significant unmet needs in inflammatory skin diseases.

Arcutis’s primary commercial product is ZORYVE (roflumilast), a topical, nonsteroidal phosphodiesterase-4 inhibitor. The product is available in multiple formulations and strengths for certain patients with plaque psoriasis, seborrheic dermatitis and atopic dermatitis.