-$1.39 Earnings Per Share Expected for Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) This Quarter

Analysts predict that Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT – Get Rating) will report earnings of ($1.39) per share for the current fiscal quarter, according to Zacks Investment Research. Zero analysts have made estimates for Arcutis Biotherapeutics’ earnings. The lowest EPS estimate is ($1.43) and the highest is ($1.34). Arcutis Biotherapeutics posted earnings per share of ($0.84) in the same quarter last year, which suggests a negative year-over-year growth rate of 65.5%. The business is expected to issue its next earnings results on Monday, January 1st.

On average, analysts expect that Arcutis Biotherapeutics will report full-year earnings of ($5.74) per share for the current year, with EPS estimates ranging from ($6.21) to ($5.48). For the next financial year, analysts forecast that the business will report earnings of ($4.16) per share, with EPS estimates ranging from ($5.08) to ($3.44). Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research firms that cover Arcutis Biotherapeutics.

Arcutis Biotherapeutics (NASDAQ:ARQT – Get Rating) last posted its quarterly earnings data on Thursday, May 5th. The company reported ($1.27) earnings per share for the quarter, topping the consensus estimate of ($1.42) by $0.15.

ARQT has been the topic of a number of recent analyst reports. Cantor Fitzgerald reissued an “overweight” rating on shares of Arcutis Biotherapeutics in a research report on Wednesday, February 23rd. Morgan Stanley boosted their price objective on shares of Arcutis Biotherapeutics from $35.00 to $37.00 and gave the company an “overweight” rating in a research note on Wednesday, March 2nd. Zacks Investment Research upgraded shares of Arcutis Biotherapeutics from a “sell” rating to a “hold” rating in a research report on Thursday, May 26th. The Goldman Sachs Group started coverage on shares of Arcutis Biotherapeutics in a research report on Thursday, March 17th. They set a “buy” rating and a $45.00 target price for the company. Finally, Mizuho lowered their price objective on shares of Arcutis Biotherapeutics from $58.00 to $57.00 and set a “buy” rating for the company in a report on Thursday, April 7th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $41.50.

Shares of Arcutis Biotherapeutics stock traded up $0.56 during trading hours on Tuesday, reaching $21.11. The company’s stock had a trading volume of 267 shares, compared to its average volume of 398,623. Arcutis Biotherapeutics has a one year low of $13.59 and a one year high of $29.37. The company has a market capitalization of $1.09 billion, a P/E ratio of -4.49 and a beta of 0.28. The stock’s fifty day simple moving average is $20.20 and its two-hundred day simple moving average is $18.14. The company has a debt-to-equity ratio of 0.29, a quick ratio of 10.89 and a current ratio of 10.89.

In other Arcutis Biotherapeutics news, Director Howard G. Welgus sold 7,500 shares of the stock in a transaction that occurred on Friday, April 1st. The shares were sold at an average price of $20.02, for a total transaction of $150,150.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Masaru Matsuda sold 1,795 shares of the firm’s stock in a transaction on Thursday, June 2nd. The shares were sold at an average price of $19.73, for a total transaction of $35,415.35. Following the completion of the transaction, the senior vice president now directly owns 16,380 shares of the company’s stock, valued at $323,177.40. The disclosure for this sale can be found here. Insiders sold a total of 551,996 shares of company stock worth $11,417,359 in the last quarter. Company insiders own 39.00% of the company’s stock.

Several institutional investors have recently made changes to their positions in ARQT. Allspring Global Investments Holdings LLC purchased a new stake in shares of Arcutis Biotherapeutics during the fourth quarter worth about $12,809,000. Thrivent Financial for Lutherans acquired a new position in shares of Arcutis Biotherapeutics during the 3rd quarter worth approximately $248,000. Altium Capital Management LP increased its position in shares of Arcutis Biotherapeutics by 10.2% during the third quarter. Altium Capital Management LP now owns 255,000 shares of the company’s stock worth $6,092,000 after purchasing an additional 23,686 shares in the last quarter. Point72 Asset Management L.P. increased its position in shares of Arcutis Biotherapeutics by 32.7% during the fourth quarter. Point72 Asset Management L.P. now owns 2,644,177 shares of the company’s stock worth $54,840,000 after purchasing an additional 652,070 shares in the last quarter. Finally, Martingale Asset Management L P purchased a new stake in shares of Arcutis Biotherapeutics during the third quarter worth approximately $282,000. Hedge funds and other institutional investors own 87.59% of the company’s stock.

About Arcutis Biotherapeutics (Get Rating)

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.

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