Arcutis Biotherapeutics Inc (NASDAQ:ARQT) price on Thursday, April 10, fall -7.76% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $13.44.
A look at the stock’s price movement, the close in the last trading session was $14.57. Turning to its 52-week performance, $17.75 and $6.99 were the 52-week high and 52-week low respectively. Overall, ARQT moved -11.35% over the past month.
Arcutis Biotherapeutics Inc’s market cap currently stands at around $1.59 billion, with investors looking forward to this quarter’s earnings report slated for in May.
Analysts have a consensus estimate of 64.8M for the company’s revenue for the quarter, with a low and high estimate of 61.5M and 70M respectively. The average forecast suggests up to a 30.73% 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 309.41M, representing a 57.43% 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 50% 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 -14.31% and -5.51% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 41.78, while 7-day volatility ratio is 14.54% and 9.62% in the 30-day chart. Further, Arcutis Biotherapeutics Inc (ARQT) has a beta value of 1.87, and an average true range (ATR) of 1.48. 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 -41.37% off current price level while to achieve the yearly target high, price needs to move -41.37%. Nonetheless, investors will most likely welcome a -41.37% 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 2.45 million over the past 3 months. The company’s latest data on shares outstanding shows there are 117.85 million shares.
The 12.00% of Arcutis Biotherapeutics Inc’s shares are in the hands of company insiders while institutional holders own 102.30% of the company’s shares. Current price change has pushed the stock -3.52% 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.
