Equities Analysts Offer Predictions for ARQT FY2024 Earnings

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) – Stock analysts at HC Wainwright issued their FY2024 earnings per share (EPS) estimates for shares of Arcutis Biotherapeutics in a research note 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 price objective 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 announced its earnings results on Wednesday, November 6th. The company reported ($0.33) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.09. Arcutis Biotherapeutics had a negative return on equity of 119.11% and a negative net margin of 140.97%. The business had revenue of $44.76 million for the quarter, compared to analyst estimates of $38.05 million.

Separately, Needham & Company LLC reaffirmed a “buy” rating and issued a $18.00 target price on shares of Arcutis Biotherapeutics in a research report on Thursday, November 7th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $16.20.

Arcutis Biotherapeutics Price Performance

NASDAQ ARQT opened at $13.93 on Wednesday. The firm’s 50 day moving average is $11.62 and its 200-day moving average is $10.36. The company has a quick ratio of 2.38, a current ratio of 2.46 and a debt-to-equity ratio of 0.67. The company has a market capitalization of $1.63 billion, a PE ratio of -7.78 and a beta of 1.32. Arcutis Biotherapeutics has a 12-month low of $3.07 and a 12-month high of $15.79.

Insider Transactions at Arcutis Biotherapeutics

In other Arcutis Biotherapeutics news, insider Masaru Matsuda sold 5,015 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $8.68, for a total transaction of $43,530.20. Following the transaction, the insider now owns 178,273 shares of the company’s stock, valued at $1,547,409.64. The trade was a 2.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Todd Franklin Watanabe sold 15,000 shares of the company’s stock in a transaction that occurred on 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 sale, the insider now owns 823,430 shares in the company, valued at $12,491,433.10. This represents a 1.79 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 68,291 shares of company stock worth $781,266 in the last 90 days. Corporate insiders own 9.50% of the company’s stock.

Hedge Funds Weigh In On Arcutis Biotherapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ARQT. Point72 DIFC Ltd bought a new position in shares of Arcutis Biotherapeutics in the third quarter valued at about $25,000. Algert Global LLC acquired a new position in Arcutis Biotherapeutics in the 2nd quarter valued at about $97,000. Erste Asset Management GmbH bought a new position in Arcutis Biotherapeutics in the 3rd quarter valued at about $104,000. Victory Capital Management Inc. raised its holdings in Arcutis Biotherapeutics by 9.9% in the 3rd 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 during the period. Finally, Creative Planning bought a new stake in shares of Arcutis Biotherapeutics during the third quarter worth 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.