Arcutis Biotherapeutics (NASDAQ:ARQT) Stock: Insider Patrick Burnett Sells 943 Shares

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) EVP Patrick Burnett sold 943 shares of the business’s stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $31.86, for a total transaction of $30,043.98. Following the sale, the executive vice president directly owned 116,649 shares of the company’s stock, valued at $3,716,437.14. This represents a 0.80% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Patrick Burnett also recently made the following trade(s):

• On Wednesday, August 12th, Patrick Burnett sold 6,700 shares of Arcutis Biotherapeutics stock. The shares were sold at an average price of $26.08, for a total transaction of $174,736.00.
• On Tuesday, August 11th, Patrick Burnett sold 8,300 shares of Arcutis Biotherapeutics stock. The stock was sold at an average price of $26.52, for a total value of $220,116.00.

Arcutis Biotherapeutics Price Performance

NASDAQ:ARQT opened at $27.00 on Friday. The stock has a 50 day moving average of $27.15 and a two-hundred day moving average of $25.37. Arcutis Biotherapeutics, Inc. has a 12 month low of $19.30 and a 12 month high of $34.80. The firm has a market cap of $3.39 billion, a P/E ratio of 128.58 and a beta of 1.66. The company has a current ratio of 2.92, a quick ratio of 2.67 and a debt-to-equity ratio of 0.46.

Arcutis Biotherapeutics (NASDAQ:ARQT) last released its earnings results on Wednesday, November 4th. The company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.12). The firm had revenue of $143.92 million during the quarter, compared to analysts’ expectations of $142.59 million. Arcutis Biotherapeutics had a net margin of 5.88% and a return on equity of 14.96%. On average, analysts expect that Arcutis Biotherapeutics, Inc. will post 0.43 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on ARQT shares. Wall Street Zen cut shares of Arcutis Biotherapeutics from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 10th. Weiss Ratings raised shares of Arcutis Biotherapeutics from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, October 29th. Guggenheim increased their price objective on shares of Arcutis Biotherapeutics from $38.00 to $44.00 and gave the company a “buy” rating in a report on Monday, October 19th. Jefferies Financial Group reissued a “buy” rating and issued a $39.00 target price on shares of Arcutis Biotherapeutics in a research note on Thursday, October 8th. Finally, Needham & Company LLC set a $40.00 price target on Arcutis Biotherapeutics in a research report on Thursday. Eight research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $39.75.

Arcutis Biotherapeutics News Roundup

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

• Positive Sentiment: Arcutis began enrolling participants in a Phase 3 trial of ZORYVE cream 0.3% for moderate-to-severe atopic dermatitis. Success could expand the treatment’s use and address a broader patient population, though the study is an early-stage catalyst rather than near-term revenue. Phase 3 study announcement
• Positive Sentiment: Third-quarter revenue was $143.92 million, modestly ahead of the approximately $142.6 million analyst consensus, providing a partial offset to the earnings miss. Quarterly earnings report
• Neutral Sentiment: Rob Lisicki was appointed chief commercial officer, effective November 4. The leadership change may support commercial execution, but its impact on sales remains to be seen. Chief commercial officer appointment
• Neutral Sentiment: Several executives reported share sales, including a larger sale by EVP Masaru Matsuda under a pre-arranged trading plan. Some reported transactions were to cover tax withholding on vested equity awards, which makes them less clearly bearish, though insider selling may attract investor attention. SEC insider filing
• Negative Sentiment: Third-quarter earnings were $0.06 per share, well below analysts’ estimates of roughly $0.17–$0.18 and unchanged from a year earlier. The earnings miss was the clearest near-term pressure on the stock, despite the modest revenue beat. Report on the earnings miss

Institutional Investors Weigh In On Arcutis Biotherapeutics

A number of hedge funds have recently modified their holdings of ARQT. Montanova Capital LLC raised its stake in Arcutis Biotherapeutics by 0.9% during the second quarter. Montanova Capital LLC now owns 12,437,000 shares of the company’s stock worth $326,098,000 after purchasing an additional 110,000 shares during the period. BlackRock Inc. purchased a new stake in shares of Arcutis Biotherapeutics in the 2nd quarter valued at approximately $276,502,000. Bank of America Corp DE purchased a new stake in shares of Arcutis Biotherapeutics in the 2nd quarter valued at approximately $78,330,000. Janus Henderson Group PLC grew its stake in shares of Arcutis Biotherapeutics by 1.3% in the 1st quarter. Janus Henderson Group PLC now owns 1,854,566 shares of the company’s stock valued at $43,684,000 after buying an additional 24,505 shares during the period. Finally, Jupiter Topco LLC acquired a new stake in shares of Arcutis Biotherapeutics during the 2nd quarter worth approximately $36,989,000.

Arcutis Biotherapeutics Company Profile

Arcutis Biotherapeutics, Inc is a commercial-stage biopharmaceutical company focused on developing and delivering treatments for dermatologic conditions. The company’s portfolio is centered on therapies designed to address inflammatory skin diseases, with an emphasis on nonsteroidal topical medicines that may help patients manage chronic conditions.

Arcutis’s lead product is ZORYVE (roflumilast), a topical phosphodiesterase-4 inhibitor. ZORYVE has received U.S. Food and Drug Administration approvals for multiple dermatological uses, including plaque psoriasis, seborrheic dermatitis and atopic dermatitis, in different cream and foam formulations.