In today’s recent session, 0.61 million shares of the Arcutis Biotherapeutics Inc (NASDAQ:ARQT) have been traded, and its beta is 1.65. Most recently the company’s share price was $17.19, and it changed around $0.18 or 1.06% from the last close, which brings the market valuation of the company to $2.04B. ARQT at last check was trading at a discount to its 52-week high of $17.70, offering almost -2.97% off that amount. The share price’s 52-week low was $6.99, which indicates that the recent value has risen by an impressive 59.34% since then. We note from Arcutis Biotherapeutics Inc’s average daily trading volume that its 10-day average is 2.94 million shares, with the 3-month average coming to 2.29 million.
Arcutis Biotherapeutics Inc stock received a consensus recommendation rating of Buy, based on a mean score of 1.25. If we narrow it down even further, the data shows that 0 out of 8 analysts rate the stock as a Sell; another 3 rate it as Overweight. Among the rest, 1 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 -0.21 for the current quarter.
Arcutis Biotherapeutics Inc (NASDAQ:ARQT) trade information
Instantly ARQT has been showing a green trend so far today with a performance of 1.06% on intraday trading today. The performance over the last five days has remained in the green territory. The rise to weekly highs of 17.52 on recent trading dayincreased the stock’s daily price by 1.88%. The company’s shares are currently up 23.40% year-to-date, but still up 4.69% over the last five days. On the other hand, Arcutis Biotherapeutics Inc (NASDAQ:ARQT) is 32.03% up in the 30-day period. We can see from the shorts that 19.77 million shares have been sold at a short interest cover period of 8.42 day(s).
The consensus price target as assigned by Wall Street analysts is $19, which translates to bulls needing to increase their stock price by 9.53% from its current value. Analyst projections state that ARQT is forecast to be at a low of $19 and a high of $19.
Arcutis Biotherapeutics Inc (ARQT) estimates and forecasts
The year-over-year growth rate is expected to be 53.55%, up from the previous year.
Consensus estimates provided by 6 financial analysts predict the company will bring in an average of 64.1M in revenue for the current quarter. 6 analysts expect Arcutis Biotherapeutics Inc to make 72.63M in revenue for the current ending quarter. The company’s sales for the same quarters a year ago were 49.57M and 30.86M respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 29.32%. Forecasts for the next quarter put sales growth at 135.36%.
Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -0.98%.
Arcutis Biotherapeutics Inc (NASDAQ:ARQT)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 2.02% of Arcutis Biotherapeutics Inc shares, and 112.30% of them are in the hands of institutional investors. The stock currently has a share float of 114.61%. Arcutis Biotherapeutics Inc stock is held by 288.0 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.
Vanguard Total Stock Market Index Fund and PGIM JENNISON SMALL COMPANY FUND were the top two Mutual Funds as of Dec 31, 2024. The former held 3.23 shares worth $55.67 million, making up 2.72% of all outstanding shares. On the other hand, PGIM JENNISON SMALL COMPANY FUND held roughly 3.09 shares worth around $53.2 million, which represents about 2.60% of the total shares outstanding.
