Arecor Therapeutics (LON:AREC) Shares Up 1.9% – Here’s Why

Arecor Therapeutics plc (LON:AREC) shares shot up 1.9% during mid-day trading on Thursday . The stock traded as high as GBX 63.50 and last traded at GBX 63.20. 22,900 shares changed hands during trading, an increase of 8% from the average session volume of 21,119 shares. The stock had previously closed at GBX 62.

Arecor Therapeutics Stock Performance

The firm has a fifty day simple moving average of GBX 65.12 and a 200 day simple moving average of GBX 71.52. The company has a current ratio of 4.35, a quick ratio of 6.24 and a debt-to-equity ratio of 1.52. The stock has a market cap of £23.86 million, a price-to-earnings ratio of 31.60 and a beta of -0.18.

Arecor Therapeutics (LON:AREC) last announced its quarterly earnings data on Monday, April 13th. The company reported GBX 2 earnings per share for the quarter. The company had revenue of GBX 171 million for the quarter. Arecor Therapeutics had a return on equity of 14.26% and a net margin of 38.74%. As a group, sell-side analysts expect that Arecor Therapeutics plc will post -0.35 earnings per share for the current year.

Arecor Therapeutics Company Profile

Arecor Therapeutics plc (AIM: AREC) is a clinical-stage biotech company developing superior therapeutics that can reduce treatment burden and improve outcomes for people living with diabetes, obesity and other cardiometabolic diseases.

Lead product, AT278, is the only ultra-concentrated (500U/mL) ultra-rapid-acting insulin in development. Arecor has signed an initial strategic partnership with Sequel Med Tech, a leading automated insulin delivery (AID) system company to co-develop AT278 in combination with Sequel’s twiist™ AID system.