Equities Analysts Issue Forecasts for ARQT FY2024 Earnings

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) – Research analysts at HC Wainwright issued their FY2024 EPS estimates for shares of Arcutis Biotherapeutics in a report issued on Monday, December 30th. HC Wainwright analyst D. Tsao expects that the company will post earnings per share of ($1.41) for the year. HC Wainwright currently has a “Buy” rating and a $19.00 target price on the stock. The consensus estimate for Arcutis Biotherapeutics’ current full-year earnings is ($1.34) per share. HC Wainwright also issued estimates for Arcutis Biotherapeutics’ Q4 2024 earnings at ($0.33) EPS, Q1 2025 earnings at ($0.30) EPS, Q2 2025 earnings at ($0.27) EPS, Q3 2025 earnings at ($0.25) EPS, Q4 2025 earnings at ($0.30) EPS, FY2025 earnings at ($1.13) EPS, FY2026 earnings at ($0.23) EPS, FY2027 earnings at $0.94 EPS and FY2028 earnings at $1.64 EPS.

Arcutis Biotherapeutics (NASDAQ:ARQT) last posted its earnings results on Wednesday, November 6th. The company reported ($0.33) earnings per share for the quarter, beating the consensus estimate of ($0.42) by $0.09. The company had revenue of $44.76 million for the quarter, compared to analyst estimates of $38.05 million. Arcutis Biotherapeutics had a negative return on equity of 119.11% and a negative net margin of 140.97%.

Separately, Needham & Company LLC reissued a “buy” rating and set a $18.00 price objective on shares of Arcutis Biotherapeutics in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Arcutis Biotherapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $16.20.

Arcutis Biotherapeutics Stock Performance

NASDAQ:ARQT opened at $14.56 on Wednesday. The company has a current ratio of 2.46, a quick ratio of 2.38 and a debt-to-equity ratio of 0.67. The company has a market capitalization of $1.70 billion, a P/E ratio of -8.13 and a beta of 1.32. The firm has a 50-day moving average price of $11.74 and a two-hundred day moving average price of $10.39. Arcutis Biotherapeutics has a twelve month low of $3.11 and a twelve month high of $15.79.

Insider Activity

In other Arcutis Biotherapeutics news, insider Masaru Matsuda sold 5,015 shares of the company’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $8.68, for a total transaction of $43,530.20. Following the completion of the sale, the insider now directly owns 178,273 shares in the company, valued at $1,547,409.64. This represents a 2.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Todd Franklin Watanabe sold 15,000 shares of Arcutis Biotherapeutics stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $15.17, for a total value of $227,550.00. Following the completion of the transaction, the insider now directly owns 823,430 shares in the company, valued at $12,491,433.10. This represents a 1.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 68,291 shares of company stock valued at $781,266 in the last 90 days. 9.50% of the stock is currently owned by insiders.

Institutional Trading of Arcutis Biotherapeutics

Several large investors have recently added to or reduced their stakes in ARQT. Point72 DIFC Ltd purchased a new stake in shares of Arcutis Biotherapeutics in the third quarter worth about $25,000. Algert Global LLC acquired a new position in Arcutis Biotherapeutics during the 2nd quarter worth approximately $97,000. Erste Asset Management GmbH purchased a new position in Arcutis Biotherapeutics in the 3rd quarter worth approximately $104,000. Victory Capital Management Inc. grew its position in Arcutis Biotherapeutics by 9.9% in the third quarter. Victory Capital Management Inc. now owns 12,843 shares of the company’s stock valued at $119,000 after acquiring an additional 1,155 shares in the last quarter. Finally, Creative Planning purchased a new stake in shares of Arcutis Biotherapeutics during the third quarter valued at approximately $127,000.

About Arcutis Biotherapeutics

Arcutis Biotherapeutics, Inc, a biopharmaceutical company, focuses on developing and commercializing treatments for dermatological diseases. Its lead product candidate is ARQ-151, a topical roflumilast cream that has completed Phase III clinical trials for the treatment of plaque psoriasis and atopic dermatitis.