The stock of Arcutis Biotherapeutics Inc (NASDAQ:ARQT) last traded at $9.24, up 13.65% from the previous session.
ARQT stock price is now -4.83% away from the 50-day moving average and 45.01% away from the 200-day moving average. The market capitalization of the company currently stands at $1.07B.
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With the price target enhanced from $4 to $8, Mizuho Upgraded its rating from Neutral to Buy for Arcutis Biotherapeutics Inc (NASDAQ: ARQT). On October 26, 2023, Mizuho Downgraded its previous ‘Buy’ rating to ‘Neutral’ on the stock reducing its target price from $57 to quote $4, while ‘Goldman’ rates the stock as ‘Neutral’
In other news, Watanabe Todd Franklin, insider sold 13,783 shares of the company’s stock on May 02 ’24. The stock was sold for $120,433 at an average price of $8.74. Upon completion of the transaction, the insider now directly owns 860,750 shares in the company, valued at $7.95 million. An SEC document containing details of the transaction can be found on the SEC’s website. On May 02 ’24, Burnett Patrick sold 9,555 shares of the business’s stock. A total of $83,490 was realized by selling the stock at an average price of $8.74. This leaves the insider owning 259,745 shares of the company worth $2.4 million. A total of 15.06% of the company’s stock is owned by insiders.
During the past 12 months, Arcutis Biotherapeutics Inc has had a low of $1.76 and a high of $13.17. As of last week, the company has a debt-to-equity ratio of 0.92, a current ratio of 9.89, and a quick ratio of 9.61.
According to the Biotechnology Company, earnings per share came in at -1.16, beating analysts’ expectations of -1.25 by 0.09. This compares to -$1.31 EPS in the same period last year. The company reported revenue of $49.57 million for the quarter, compared to $2.78 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 1682.42 percent. For the current quarter, analysts expect ARQT to generate $24.14M in revenue.
