In today’s recent session, 1.03 million shares of the Arcutis Biotherapeutics Inc (NASDAQ:ARQT) have been traded, and its beta is 1.17. Most recently the company’s share price was $10.16, and it changed around $0.33 or 3.36% from the last close, which brings the market valuation of the company to $1.19B. ARQT at last check was trading at a discount to its 52-week high of $13.17, offering almost -29.63% off that amount. The share price’s 52-week low was $1.76, which indicates that the recent value has risen by an impressive 82.68% since then. We note from Arcutis Biotherapeutics Inc’s average daily trading volume that its 10-day average is 2.99 million shares, with the 3-month average coming to 2.64 million.
Arcutis Biotherapeutics Inc stock received a consensus recommendation rating of Buy, based on a mean score of 1.33. If we narrow it down even further, the data shows that 0 out of 7 analysts rate the stock as a Sell; another 1 rate it as Overweight. Among the rest, 2 recommended ARQT as a Hold, whereas 4 deemed it a Buy, and 0 rated it as Underweight. Arcutis Biotherapeutics Inc is expected to report earnings per share of -0.41 for the current quarter.
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Arcutis Biotherapeutics Inc (NASDAQ:ARQT) trade information
Instantly ARQT has been showing a green trend so far today with a performance of 3.36% on intraday trading today. The performance over the last five days has remained in the green territory. The rise to weekly highs of 10.35 on recent trading dayincreased the stock’s daily price by 1.84%. The company’s shares are currently up 214.55% year-to-date, but still up 17.46% over the last five days. On the other hand, Arcutis Biotherapeutics Inc (NASDAQ:ARQT) is 0.89% up in the 30-day period. We can see from the shorts that 21.95 million shares have been sold at a short interest cover period of 9.12 day(s).
The consensus price target as assigned by Wall Street analysts is $27.5, which translates to bulls needing to increase their stock price by 63.05% from its current value. Analyst projections state that ARQT is forecast to be at a low of $18 and a high of $51.
Arcutis Biotherapeutics Inc (ARQT) estimates and forecasts
Arcutis Biotherapeutics Inc share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 4.85 percent over the past six months and at a 60.32% annual growth rate that is well above the industry average of 18.30%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 43.80% in revenue this quarter, and will report an increase of 51.40% in the next quarter. The year-over-year growth rate is expected to be 179.30%, up from the previous year.
Consensus estimates provided by 5 financial analysts predict the company will bring in an average of 36.42M in revenue for the current quarter. 5 analysts expect Arcutis Biotherapeutics Inc to make 46.37M in revenue for the current ending quarter. The company’s sales for the same quarters a year ago were 32.83M and 13.53M respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 10.90%. Forecasts for the next quarter put sales growth at 242.80%.
Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -48.07%. Arcutis Biotherapeutics Inc earnings are expected to increase by 60.14% in 2024, but the outlook is positive 9.80% per year for the next five years.
ARQT Dividends
Arcutis Biotherapeutics Inc’s next quarterly earnings report is expected to be released on 2024-Nov-01.
Arcutis Biotherapeutics Inc (NASDAQ:ARQT)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 2.20% of Arcutis Biotherapeutics Inc shares, and 110.93% of them are in the hands of institutional investors. The stock currently has a share float of 113.42%. Arcutis Biotherapeutics Inc stock is held by 249.0 institutions, with JENNISON ASSOCIATES LLC being the largest institutional investor. By 2024-06-30, it held 9.3712% of the shares, which is about 11.57 million shares worth $107.62 million.
SUVRETTA CAPITAL MANAGEMENT, LLC, with 8.1021% or 10.0 million shares worth $93.04 million as of 2024-06-30, holds the second largest percentage of outstanding shares.
PGIM Jennison Small Company Fd and Vanguard Total Stock Market Index Fund were the top two Mutual Funds as of Jul 31, 2024. The former held 3.09 shares worth $31.13 million, making up 2.64% of all outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held roughly 3.01 shares worth around $30.33 million, which represents about 2.57% of the total shares outstanding.
