Arcutis Biotherapeutics Inc (NASDAQ:ARQT) shares traded 18.15% higher at $9.83 on Wall Street last session.
ARQT stock price is now 4.45% away from the 50-day moving average and 33.11% away from the 200-day moving average. The market capitalization of the company currently stands at $1.15B.
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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, Burnett Patrick, insider sold 1,728 shares of the company’s stock on Aug 19 ’24. The stock was sold for $14,318 at an average price of $8.29. Upon completion of the transaction, the insider now directly owns 194,859 shares in the company, valued at $1.92 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 19 ’24, Officer Burnett Patrick bought 1,728 shares of the business’s stock. A total of $14,318 was incurred on buying the stock at an average price of $8.29. A total of 13.39% 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 1.11, a current ratio of 8.46, and a quick ratio of 8.19. The fifty day moving average price for ARQT is $9.4457 and a two-hundred day moving average price translates $7.42235 for the stock.
The latest earnings results from Arcutis Biotherapeutics Inc (NASDAQ: ARQT) was released for 2024-06-30. The net profit margin was -150.51% and return on equity was -148.92% for ARQT. The company reported revenue of $30.86 million for the quarter, compared to $5.19 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 494.57 percent. For the current quarter, analysts expect ARQT to generate $36.42M in revenue.
