Masaru Matsuda Sells 9,989 Shares of Arcutis Biotherapeutics (NASDAQ:ARQT) Stock

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) insider Masaru Matsuda sold 9,989 shares of the 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 completion of the transaction, the insider owned 116,182 shares in the company, valued at approximately $2,908,035.46. This represents a 7.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available 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 shares were sold at an average price of $26.12, for a total transaction of $32,127.60.

Arcutis Biotherapeutics Stock Performance

ARQT opened at $23.89 on Friday. The company has a current ratio of 2.92, a quick ratio of 2.67 and a debt-to-equity ratio of 0.46. The company’s fifty day moving average price is $26.13 and its two-hundred day moving average price is $24.44. Arcutis Biotherapeutics, Inc. has a 1-year low of $16.57 and a 1-year high of $31.77. 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 data on Wednesday, August 5th. The company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.05. The firm had revenue of $129.86 million for the quarter, compared to analyst estimates of $118.85 million. Arcutis Biotherapeutics had a net margin of 6.15% and a return on equity of 15.05%. On average, analysts expect that Arcutis Biotherapeutics, Inc. will post 0.4 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have commented on ARQT shares. Needham & Company LLC boosted their price objective on Arcutis Biotherapeutics from $36.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Morgan Stanley lifted their target price on Arcutis Biotherapeutics from $34.00 to $38.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. Wall Street Zen upgraded Arcutis Biotherapeutics from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 8th. Weiss Ratings lowered Arcutis Biotherapeutics from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday. Finally, Guggenheim raised their price objective on Arcutis Biotherapeutics from $35.00 to $38.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Six research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $35.57.

Hedge Funds Weigh In On Arcutis Biotherapeutics

Hedge funds have recently modified their holdings of the company. SBI Securities Co. Ltd. grew its holdings in shares of Arcutis Biotherapeutics by 325.4% in the fourth 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 in the last quarter. Global Retirement Partners LLC bought a new stake in Arcutis Biotherapeutics during the fourth quarter worth $35,000. EverSource Wealth Advisors LLC boosted its position in Arcutis Biotherapeutics by 124.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,261 shares of the company’s stock worth $37,000 after purchasing an additional 698 shares during the last quarter. NewEdge Advisors LLC boosted its position in Arcutis Biotherapeutics by 209.0% in the fourth quarter. NewEdge Advisors LLC now owns 1,545 shares of the company’s stock worth $45,000 after purchasing an additional 1,045 shares during the last quarter. Finally, Nykredit A S bought a new position in Arcutis Biotherapeutics in the 2nd quarter valued at $63,000.

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.