Bullish indicating open at $55-$60, IPO prices at $37
In recent transactions, Todd Franklin Watanabe, President and Chief Executive Officer of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT), a $1.99 billion market cap company whose stock has surged 13% in the past week and is trading near its 52-week high of $17.70, sold 1,200 shares of the company’s common stock. The shares were sold at a weighted average price of $17.6142, totaling approximately $21,137. This sale was conducted under a 10b5-1 trading plan adopted by Watanabe in June 2024, with a plan end date of September 30, 2025. Following the transaction, Watanabe holds 928,914 shares directly, while additional shares are held indirectly through various trusts and an LLC. The company maintains impressive gross profit margins of 90% and appears slightly undervalued according to InvestingPro analysis, which offers 12 additional investment tips and a comprehensive Pro Research Report for this stock.
In other recent news, Arcutis Biotherapeutics Inc . reported strong financial results for the fourth quarter of 2024, with earnings per share (EPS) of -$0.09, beating the expected -$0.28. The company’s revenue for the quarter reached $71.3 million, surpassing the anticipated $54.72 million, marking a 413% increase year-over-year. Mizuho (NYSE:MFG) Securities responded to these results by raising Arcutis’ stock price target to $21 from $20, while maintaining an Outperform rating, citing the company’s impressive sales figures and reduced product return reserves. Additionally, Jefferies increased its price target for Arcutis to $19, emphasizing the company’s promising performance with its product Zoryve, which has an annualized run rate of approximately $260 million. The U.S. Food and Drug Administration (FDA) has set a review date of October 13, 2025, for Arcutis’ ZORYVE cream for treating atopic dermatitis in young children, backed by positive clinical trial data. The company is also preparing for potential new product launches and market expansions, which are expected to drive further growth. Arcutis management has expressed confidence in meeting the consensus revenue forecast of $280-$285 million for 2025.
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