Arcutis Biotherapeutics Inc (NASDAQ:ARQT) price on Thursday, February 27, fall -3.18% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $12.80.
A look at the stock’s price movement, the close in the last trading session was $13.22. Turning to its 52-week performance, $16.20 and $6.99 were the 52-week high and 52-week low respectively. Overall, ARQT moved -8.11% over the past month.
Arcutis Biotherapeutics Inc’s market cap currently stands at around $1.52 billion, with investors looking forward to this quarter’s earnings report slated for in March.
Analysts have a consensus estimate of 65.86M for the company’s revenue for the quarter, with a low and high estimate of 57.8M and 72.6M respectively. The average forecast suggests up to a 32.87% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 301.79M, representing a 53.55% jump on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that ARQT is a 50% Buy. On the other hand, the stock is on average a 50% Buy as suggested by medium term indicators while long term indicators are putting the stock in 100% Buy category.
3 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 0 analyst(s) rate the stock as a Hold, 2 recommend ARQT as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 1 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
ARQT’s current price about 0.89% and -5.44% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 49.13, while 7-day volatility ratio is 7.73% and 7.98% in the 30-day chart. Further, Arcutis Biotherapeutics Inc (ARQT) has a beta value of 1.49, and an average true range (ATR) of 1.03. Analysts have given the company’s stock an average 52-week price target of $19, forecast between a low of $19 and high of $19. Looking at the price targets, the low is -48.44% off current price level while to achieve the yearly target high, price needs to move -48.44%. Nonetheless, investors will most likely welcome a -48.44% jump to $19 which is the analysts’ median price.
If we refocus on Arcutis Biotherapeutics Inc (NASDAQ:ARQT), historical trading data shows that trading volumes averaged 2.17 million over the past 3 months. The company’s latest data on shares outstanding shows there are 117.85 million shares.
The 11.97% of Arcutis Biotherapeutics Inc’s shares are in the hands of company insiders while institutional holders own 101.77% of the company’s shares. Current price change has pushed the stock -8.11% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the ARQT stock continues to rise going into the next quarter.
