Insider Selling: Arcutis Biotherapeutics (NASDAQ:ARQT) Insider Sells $250,024.67 in Stock

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) insider Masaru Matsuda sold 9,989 shares of the company’s stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $25.03, for a total value of $250,024.67. Following the transaction, the insider directly owned 116,182 shares in the company, valued at approximately $2,908,035.46. The trade was a 7.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible 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 Monday, August 3rd, Masaru Matsuda sold 1,230 shares of Arcutis Biotherapeutics stock. The stock was sold at an average price of $26.12, for a total value of $32,127.60.

Arcutis Biotherapeutics Stock Up 2.2%

Shares of ARQT stock opened at $23.89 on Friday. Arcutis Biotherapeutics, Inc. has a 1-year low of $16.57 and a 1-year high of $31.77. The stock’s fifty day moving average price is $26.13 and its 200 day moving average price is $24.44. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.92 and a quick ratio of 2.67. The company has a market cap of $3.00 billion, a price-to-earnings ratio of 113.77 and a beta of 1.50.

Arcutis Biotherapeutics (NASDAQ:ARQT) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.11 EPS for the quarter, beating analysts’ consensus estimates 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 return on equity of 15.05% and a net margin of 6.15%. On average, research analysts expect that Arcutis Biotherapeutics, Inc. will post 0.4 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently commented on ARQT. Wall Street Zen raised shares of Arcutis Biotherapeutics from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 8th. Weiss Ratings lowered shares of Arcutis Biotherapeutics from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday. 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. Morgan Stanley lifted their target price on Arcutis Biotherapeutics from $34.00 to $38.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. Finally, Guggenheim upped their price target on shares of Arcutis Biotherapeutics from $35.00 to $38.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Six equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $35.57.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. SBI Securities Co. Ltd. grew its stake in Arcutis Biotherapeutics by 325.4% in the 4th quarter. SBI Securities Co. Ltd. now owns 1,089 shares of the company’s stock valued at $32,000 after acquiring an additional 833 shares during the period. Global Retirement Partners LLC purchased a new stake in Arcutis Biotherapeutics in the 4th quarter worth $35,000. EverSource Wealth Advisors LLC raised its position in Arcutis Biotherapeutics by 124.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,261 shares of the company’s stock worth $37,000 after acquiring an additional 698 shares during the period. NewEdge Advisors LLC raised its position in 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 acquiring an additional 1,045 shares during the period. Finally, Nykredit A S purchased a new position in Arcutis Biotherapeutics during the second quarter valued at $63,000.

About Arcutis Biotherapeutics

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.