HC Wainwright Issues Pessimistic Outlook for ARQT Earnings

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) – Investment analysts at HC Wainwright lowered their Q2 2026 EPS estimates for Arcutis Biotherapeutics in a research note issued on Thursday, February 26th. HC Wainwright analyst D. Tsao now expects that the company will post earnings of $0.02 per share for the quarter, down from their previous forecast of $0.06. HC Wainwright currently has a “Buy” rating and a $34.00 target price on the stock. The consensus estimate for Arcutis Biotherapeutics’ current full-year earnings is ($1.33) per share. HC Wainwright also issued estimates for Arcutis Biotherapeutics’ Q3 2026 earnings at $0.05 EPS, Q4 2026 earnings at $0.19 EPS and FY2030 earnings at $2.20 EPS.

ARQT has been the topic of several other reports. TD Cowen increased their price target on shares of Arcutis Biotherapeutics from $30.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arcutis Biotherapeutics in a report on Monday, December 29th. The Goldman Sachs Group boosted their price target on Arcutis Biotherapeutics from $19.00 to $29.00 and gave the company a “neutral” rating in a report on Thursday, October 30th. Wall Street Zen cut Arcutis Biotherapeutics from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 14th. Finally, Zacks Research lowered shares of Arcutis Biotherapeutics from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. Six equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $31.67.

Arcutis Biotherapeutics Stock Performance

ARQT opened at $28.57 on Friday. The company’s 50 day moving average is $27.26 and its 200 day moving average is $23.71. The company has a current ratio of 3.50, a quick ratio of 3.28 and a debt-to-equity ratio of 0.68. The company has a market cap of $3.50 billion, a price-to-earnings ratio of -204.06 and a beta of 1.70. Arcutis Biotherapeutics has a 12-month low of $11.86 and a 12-month high of $31.77.

Arcutis Biotherapeutics (NASDAQ:ARQT) last posted its quarterly earnings data on Wednesday, February 25th. The company reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.10. The company had revenue of $129.50 million during the quarter, compared to analysts’ expectations of $110.79 million. Arcutis Biotherapeutics had a negative return on equity of 11.01% and a negative net margin of 4.29%.

Institutional Trading of Arcutis Biotherapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of ARQT. Perpetual Ltd increased its position in shares of Arcutis Biotherapeutics by 7,534.3% during the third quarter. Perpetual Ltd now owns 2,024,606 shares of the company’s stock worth $38,164,000 after acquiring an additional 1,998,086 shares during the period. Suvretta Capital Management LLC grew its holdings in Arcutis Biotherapeutics by 14.2% during the 4th quarter. Suvretta Capital Management LLC now owns 11,964,000 shares of the company’s stock worth $347,435,000 after acquiring an additional 1,486,000 shares in the last quarter. Jennison Associates LLC raised its holdings in shares of Arcutis Biotherapeutics by 10.3% in the 3rd quarter. Jennison Associates LLC now owns 12,254,119 shares of the company’s stock valued at $230,990,000 after purchasing an additional 1,144,714 shares in the last quarter. Frazier Life Sciences Management L.P. lifted its position in shares of Arcutis Biotherapeutics by 12.4% in the 2nd quarter. Frazier Life Sciences Management L.P. now owns 9,874,511 shares of the company’s stock worth $138,441,000 after purchasing an additional 1,089,227 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its stake in Arcutis Biotherapeutics by 1,228.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,166,348 shares of the company’s stock worth $33,872,000 after buying an additional 1,078,546 shares in the last quarter.

Insider Transactions at Arcutis Biotherapeutics

In other Arcutis Biotherapeutics news, insider Patrick Burnett sold 11,500 shares of the firm’s stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $28.94, for a total value of $332,810.00. Following the completion of the sale, the insider owned 98,307 shares of the company’s stock, valued at $2,845,004.58. This trade represents a 10.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Howard G. Welgus sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $25.05, for a total value of $250,500.00. Following the transaction, the director owned 59,744 shares of the company’s stock, valued at $1,496,587.20. This trade represents a 14.34% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 124,656 shares of company stock valued at $3,312,365 in the last 90 days. Company insiders own 9.40% of the company’s stock.

Key Arcutis Biotherapeutics News

Here are the key news stories impacting Arcutis Biotherapeutics this week:

• Positive Sentiment: Reported a robust Q4: ZORYVE product revenue of $127.5M (+84% YoY) and full‑year ZORYVE sales of $372.1M (+123% YoY); company raised 2026 net product sales guidance to $480–$495M — a clear driver of upward momentum. Arcutis Announces Fourth Quarter and Full Year 2025 Financial Results and Provides Business Update
• Positive Sentiment: Beat EPS and revenue estimates: Q4 GAAP EPS $0.13 vs. consensus $0.03 and revenue ~$129.5M vs. $110.8M expected — the earnings beat and recurring revenue growth support a re-rating. ARQT Earnings Report
• Positive Sentiment: Clinical and regulatory catalyst: positive topline data in a Phase 2 infant trial for ZORYVE with an sNDA submission expected in Q2 2026 — potential label expansion that could meaningfully grow addressable market. Arcutis Announces Fourth Quarter and Full Year 2025 Financial Results and Provides Business Update
• Positive Sentiment: Analyst upgrades: Needham raised its PT to $36 (buy) and TD Cowen raised its PT to $35 (buy), both implying >20% upside from current levels — these broker actions can drive buying interest. Needham Price Target Raise
• Positive Sentiment: Operational improvements: company produced positive operating cash flow in Q4 and expects to maintain positive operating cash flow quarterly going forward; also expanding dermatology sales and targeting primary care/pediatrics — supports sustainable commercialization. Business Update and Guidance
• Neutral Sentiment: Wall‑street commentary and analysis: bullish writeups (Seeking Alpha) highlight ZORYVE dominance and pipeline catalysts but note valuation is elevated (~9x forward EV/sales). Seeking Alpha Bull Case
• Neutral Sentiment: Marketing/awareness initiatives: consumer awareness campaign (celebrity partnership) may help demand over time but is not an immediate revenue driver. Marketing Campaign
• Neutral Sentiment: Short interest data reported is internally inconsistent (zeros/NaN) and provides no actionable signal. (Ignore until clearer filings are available.)
• Negative Sentiment: Profitability metrics remain mixed: company still showed negative net margin and negative ROE in some reports, and some analysts project a net loss (consensus -1.33 EPS for the year) — these fundamentals temper the upside and could limit multiple expansion if growth slows. ARQT Stock Summary

Arcutis Biotherapeutics Company Profile

Arcutis Biotherapeutics is a clinical-stage biopharmaceutical company focused on developing and commercializing innovative therapies for immuno-inflammatory skin diseases. The company’s research and development efforts center on targeted treatments that address the underlying biology of conditions such as plaque psoriasis, atopic dermatitis, seborrheic dermatitis and vitiligo. Arcutis employs a precision-medicine approach to deliver topical therapies designed to improve efficacy and tolerability compared with existing treatment options.

In August 2022, Arcutis received U.S.