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In a recent transaction, Patrick J. Heron, a director at Arcutis Biotherapeutics Inc . (NASDAQ:ARQT), purchased additional shares of the company. According to a filing with the Securities and Exchange Commission, Heron acquired a total of 2,268 shares of common stock in two separate transactions on June 4 and June 5, 2025. The insider purchase comes as the $1.61B market cap company maintains impressive gross profit margins of 88% and shows strong liquidity with a current ratio of 3.55. The purchases were made at a weighted average price ranging from $13.3214 to $13.4108 per share, amounting to a total value of $30,246.
The shares are held indirectly by Frazier Life Sciences X, L.P., where Heron is one of the managing members. Following these transactions, Heron now holds a total of 24,802 shares indirectly through this entity.
In other recent news, Arcutis Biotherapeutics, Inc. reported first-quarter revenue of $65.8 million, surpassing the consensus estimate of $63.66 million. This included net product revenue for ZORYVE, which reached $63.8 million, marking a 196% increase year-over-year, despite a 2% sequential decrease attributed to typical first-quarter deductible resets and insurance changes. Jefferies responded by maintaining a Buy rating on Arcutis and increasing the price target to $20.00, citing promising second-quarter prescription trends. Meanwhile, the FDA approved ZORYVE foam 0.3% for treating plaque psoriasis on the scalp and body, expanding its application to adults and children aged 12 and older. This approval marks the fifth for ZORYVE in under three years, enhancing treatment options for psoriasis patients. H.C. Wainwright reiterated its Buy rating with a $19 price target following this approval, highlighting the foam’s versatility for hair-bearing areas. Clinical trials have shown significant improvements in psoriasis symptoms, with ZORYVE foam demonstrating rapid itch relief and a favorable safety profile. Arcutis continues to expand its commercial coverage and Medicaid access, with over 50% of recipients now having access to ZORYVE.
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