During the recent session, Arcutis Biotherapeutics Inc (NASDAQ:ARQT)’s traded shares were 0.89 million, with the beta value of the company hitting 1.19. At the last check today, the stock’s price was $8.62, reflecting an intraday gain of 3.73% or $0.31. The 52-week high for the ARQT share is $13.17, that puts it down -52.78 from that peak though still a striking 79.58% gain since the share price plummeted to a 52-week low of $1.76. The company’s market capitalization is $1.01B, and the average intraday trading volume over the past 10 days was 1.81 million shares, and the average trade volume was 1.99 million shares over the past three months.
Arcutis Biotherapeutics Inc (ARQT) received a consensus recommendation of Buy from analysts. That translates to a mean rating of 1.29. ARQT has a Sell rating from 1 analyst(s) out of 3 analysts who have looked at this stock. 0 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 2 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -0.42.
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Arcutis Biotherapeutics Inc (NASDAQ:ARQT) trade information
Arcutis Biotherapeutics Inc (ARQT) registered a 3.73% upside in the last session and has traded in the red over the past 5 sessions. The stock spiked 3.73% in intraday trading to $8.62, hitting a weekly high. The stock’s 5-day price performance is -1.49%, and it has moved by -15.28% in 30 days. Based on these gigs, the overall price performance for the year is 281.42%. The short interest in Arcutis Biotherapeutics Inc (NASDAQ:ARQT) is 28.06 million shares and it means that shorts have 14.47 day(s) to cover.
The consensus price target of analysts on Wall Street is $27.5, which implies an increase of 68.65% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $18 and $51 respectively. As a result, ARQT is trading at a discount of -491.65% off the target high and -108.82% off the low.
Arcutis Biotherapeutics Inc (ARQT) estimates and forecasts
Statistics show that Arcutis Biotherapeutics Inc has outperformed its competitors in share price, compared to the industry in which it operates. Arcutis Biotherapeutics Inc (ARQT) shares have gone up 7.75% during the last six months, with a year-to-date growth rate more than the industry average at 57.67% against 17.10. Yet analysts are ramping up their growth forecast for the fiscal year 2024. Revenue is predicted to grow 42.50% this quarter and then jump 50.00% in the quarter after that. In the rating firms’ projections, revenue will increase 178.90% compared to the previous financial year.
As companies strive to predict their financial trajectories, we turn our attention to the forthcoming financial quarter. Here are the insights gathered from industry analysts. Revenue for the current quarter is expected to be 37.62M as predicted by 6 analyst(s). Meanwhile, a consensus of 6 analyst(s) estimates revenue growth to 47.81M by the end of current fiscal year. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled 32.83M and 13.53M respectively. In this case, analysts expect current quarter sales to grow by 14.60% and then jump by 253.50% in the coming quarter.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings shrunk an estimated -48.07%. While earnings are projected to return 59.90% in 2024, the next five years will return 9.80% per annum.
ARQT Dividends
Arcutis Biotherapeutics Inc is due to release its next quarterly earnings on 2024-Nov-06. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.
Arcutis Biotherapeutics Inc (NASDAQ:ARQT)’s Major holders
Arcutis Biotherapeutics Inc insiders own 2.18% of total outstanding shares while institutional holders control 111.72%, with the float percentage being 114.22%. JENNISON ASSOCIATES LLC is the largest shareholder of the company, while 248.0 institutions own stock in it. As of 2024-06-30, the company held over 11.57 million shares (or 9.3712% of all shares), a total value of $107.62 million in shares.
The next largest institutional holding, with 10.0 million shares, is of SUVRETTA CAPITAL MANAGEMENT, LLC’s that is approximately 8.1021% of outstanding shares. At the market price on 2024-06-30, these shares were valued at $93.04 million.
