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Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT), a $1.5 billion market cap biotherapeutics company currently trading at $13.40, recently reported that Matsuda Masaru, the company’s General Counsel and Corporate Secretary, executed a sale of company stock. On March 3, Masaru sold 3,263 shares of common stock at a weighted average price of $13.0311 per share, amounting to a total transaction value of $42,520. This sale was conducted to cover tax withholding obligations related to the vesting of restricted stock units.
Additionally, on February 28, Masaru acquired 34,000 shares of common stock at no cost, following the vesting of restricted stock units. On the same day, he also acquired stock options for 89,000 shares, exercisable at $13.69 per share, which will vest over four years starting March 1, 2025. According to InvestingPro analysis, the stock appears undervalued, with analysts setting price targets ranging from $15 to $29 per share.
These transactions reflect routine financial and compensation management by the executive, as part of his ongoing role with the company. InvestingPro subscribers can access 6 additional key insights about ARQT, including detailed analysis of its impressive gross profit margins and debt levels, along with comprehensive Pro Research Reports available for over 1,400 US stocks.
In other recent news, Arcutis Biotherapeutics has reported its fourth-quarter 2024 earnings, which showed a significant earnings per share (EPS) beat, with an EPS of -$0.09 compared to the forecasted -$0.28. The company’s revenue for the quarter reached $71.3 million, exceeding the anticipated $54.72 million, marking a substantial 413% year-over-year increase. Arcutis’ Zoryve franchise sales were particularly strong, reaching $69.4 million, outperforming both the pre-announced figure of $63 million and Mizuho (NYSE:MFG)’s forecast of $57 million. Following these results, Mizuho Securities expressed confidence in Arcutis by raising their price target to $21.00 from $20.00 and maintaining an Outperform rating. Additionally, the U.S. Food and Drug Administration (FDA) has accepted a supplemental New Drug Application for ZORYVE cream 0.05%, with a target action date set for October 13, 2025. This could potentially expand treatment options for young children with atopic dermatitis. Arcutis management has expressed comfort with the market consensus forecast of $289 million for 2025, indicating potential for further sales growth. The company remains optimistic about its growth trajectory, projecting an annual revenue run rate of approximately $250 million by the end of 2025.
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