Arcutis Biotherapeutics (NASDAQ:ARQT) Director Terrie Curran Sells 38,200 Shares of Stock

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Director Terrie Curran sold 38,200 shares of the company’s stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $25.03, for a total transaction of $956,146.00. Following the transaction, the director owned 23,526 shares of the company’s stock, valued at $588,855.78. This represents a 61.89% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Terrie Curran also recently made the following trade(s):

• On Thursday, August 20th, Terrie Curran sold 1,072 shares of Arcutis Biotherapeutics stock. The stock was sold at an average price of $26.04, for a total transaction of $27,914.88.

Arcutis Biotherapeutics Trading Down 4.4%

Shares of NASDAQ:ARQT opened at $23.78 on Friday. The company has a quick ratio of 2.67, a current ratio of 2.92 and a debt-to-equity ratio of 0.46. The company’s 50-day moving average price is $26.64 and its 200 day moving average price is $24.63. The company has a market cap of $2.99 billion, a PE ratio of 113.24 and a beta of 1.49. Arcutis Biotherapeutics, Inc. has a fifty-two week low of $15.10 and a fifty-two week high of $31.77.

Arcutis Biotherapeutics (NASDAQ:ARQT) last posted its earnings results on Wednesday, August 5th. The company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.06 by $0.05. Arcutis Biotherapeutics had a net margin of 6.15% and a return on equity of 15.05%. The firm had revenue of $129.86 million during the quarter, compared to analysts’ expectations of $118.85 million. Sell-side analysts anticipate that Arcutis Biotherapeutics, Inc. will post 0.4 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts recently commented on ARQT shares. Morgan Stanley raised 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 raised Arcutis Biotherapeutics from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 8th. Needham & Company LLC upped their price objective on shares of Arcutis Biotherapeutics from $36.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Guggenheim increased their target price on shares of Arcutis Biotherapeutics from $35.00 to $38.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Finally, Weiss Ratings upgraded shares of Arcutis Biotherapeutics from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, August 20th. Six research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, Arcutis Biotherapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $35.57.

Institutional Investors Weigh In On Arcutis Biotherapeutics

Institutional investors and hedge funds have recently bought and sold shares of the business. SBI Securities Co. Ltd. grew its stake in shares of Arcutis Biotherapeutics by 325.4% in the 4th quarter. SBI Securities Co. Ltd. now owns 1,089 shares of the company’s stock worth $32,000 after purchasing an additional 833 shares during the last quarter. Global Retirement Partners LLC acquired a new stake in Arcutis Biotherapeutics during the fourth quarter valued at approximately $35,000. EverSource Wealth Advisors LLC lifted its stake in Arcutis Biotherapeutics by 124.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,261 shares of the company’s stock valued at $37,000 after purchasing an additional 698 shares during the last quarter. NewEdge Advisors LLC lifted its stake in Arcutis Biotherapeutics by 209.0% during the fourth quarter. NewEdge Advisors LLC now owns 1,545 shares of the company’s stock valued at $45,000 after purchasing an additional 1,045 shares during the last quarter. Finally, Nykredit A S bought a new stake in Arcutis Biotherapeutics during the second quarter worth approximately $63,000.

About Arcutis Biotherapeutics

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.