Bullish indicating open at $55-$60, IPO prices at $37
In recent transactions disclosed by Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT), a biopharmaceutical company currently valued at $1.52 billion and showing impressive gross profit margins of 90%, Patrick Burnett, the Executive Vice President and Chief Medical (TASE:BLWV) Officer, sold shares of the company. According to InvestingPro analysis, the company appears undervalued based on its Fair Value estimates. On March 3 and March 4, 2025, Burnett sold a total of 3,773 shares valued at approximately $49,407, with prices ranging from $13.0311 to $13.2841 per share.
These sales were conducted to cover tax withholding obligations related to the vesting of restricted stock units (RSUs), as noted in the filing. Following these transactions, Burnett holds 166,089 shares of Arcutis Biotherapeutics.
In addition to the sales, Burnett acquired 55,000 common shares on February 28, 2025, through the vesting of RSUs, with no purchase price involved. These acquisitions increased his ownership to a total of 169,862 shares prior to the subsequent sales.
The transactions reflect ongoing adjustments in Burnett’s holdings as part of his compensation structure with Arcutis Biotherapeutics.
In other recent news, Arcutis Biotherapeutics Inc . reported its fourth-quarter 2024 earnings, revealing significant financial achievements. The company posted an earnings per share (EPS) of -$0.09, which exceeded the forecasted -$0.28, and revenue for the quarter reached $71.3 million, surpassing the anticipated $54.72 million. This financial performance was bolstered by the Zoryve franchise, with sales hitting $69.4 million, outperforming both Mizuho (NYSE:MFG)’s forecast of $57 million and the consensus estimate of $55 million. Arcutis’ full-year revenues climbed to $166.5 million, marking a 471% increase compared to 2023.
Additionally, Mizuho Securities raised their price target for Arcutis shares to $21.00 from $20.00, maintaining an Outperform rating, reflecting confidence in the company’s sales growth. Arcutis also announced that the FDA has accepted a supplemental New Drug Application for ZORYVE cream 0.05%, setting a target action date of October 13, 2025. This development could provide a new treatment option for children aged 2 to 5 with mild to moderate atopic dermatitis.
The company remains optimistic about its growth trajectory, projecting an annual revenue run rate of approximately $250 million by the end of 2025. Arcutis management expressed comfort with the market consensus forecast of $289 million for 2025, indicating potential for further upside. These recent developments highlight Arcutis Biotherapeutics’ robust performance and strategic advancements in the dermatology sector.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.