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Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT), a $1.52 billion market cap biopharmaceutical company with impressive gross profit margins of 90%, saw Director Howard G. Welgus recently sell 10,000 shares of the company’s common stock, according to a recent SEC filing. The shares were sold at a weighted average price of $13.0048 per share, resulting in a total transaction value of $130,048. The sale was executed as part of a pre-established 10b5-1 trading plan, which Welgus adopted on March 5, 2024, and is set to conclude on May 30, 2025. Following this transaction, Welgus retains ownership of 131,944 shares in the company. The shares were sold in multiple transactions, with prices ranging from $12.68 to $13.69. According to InvestingPro analysis, the company maintains strong liquidity with a current ratio of 4.15, while analysts have set price targets ranging from $15 to $29. Get access to more exclusive insights and detailed analysis with InvestingPro’s comprehensive research report, available for over 1,400 US stocks.
In other recent news, Arcutis Biotherapeutics reported a strong performance in the fourth quarter of 2024, exceeding expectations with an earnings per share (EPS) of -$0.09, surpassing the forecasted -$0.28. The company’s revenue for the quarter reached $71.3 million, significantly above the anticipated $54.72 million, driven by the success of its Zoryve franchise. Zoryve sales alone accounted for $69.4 million, outperforming Mizuho (NYSE:MFG)’s forecast and the consensus estimate. Mizuho Securities responded by raising their price target for Arcutis shares to $21, maintaining an Outperform rating, and increasing their sales projection for Zoryve in 2025 to $299 million. Additionally, the U.S. Food and Drug Administration (FDA) accepted a supplemental New Drug Application for ZORYVE cream 0.05%, setting a review date for October 2025, which could expand treatment options for young children with atopic dermatitis. These developments reflect Arcutis’ continued growth and strong market presence, with management expressing confidence in meeting future sales targets. The company’s strategic focus includes expanding product indications and strengthening market penetration, with an eye on achieving cash breakeven by 2026.
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