The trading price of Arcutis Biotherapeutics Inc (NASDAQ:ARQT) closed higher on Thursday, March 29, closing at $9.91, 3.34% higher than its previous close.
In examining the 52-week price action we see that the stock hit a 52-week high of $15.40 and a 52-week low of $1.76. Over the past month, the stock has lost -4.80% in value.
Arcutis Biotherapeutics Inc, whose market valuation is $1.14 billion at the time of this writing, is expected to release its quarterly earnings report May 07, 2024 – May 13, 2024. Investors’ optimism about the company’s current quarter earnings report is understandable. Analysts have predicted the quarterly earnings per share to grow by -$0.74 per share this quarter, however they have predicted annual earnings per share of -$2.51 for 2024 and -$1.46 for 2025. It means analysts are expecting annual earnings per share growth of 33.60% this year and 41.80% next year.
Analysts have forecast the company to bring in revenue of $13.94 million for the current quarter, with the likely lows of $13 million and highs of $15.5 million. The average estimate suggests sales will likely up by 401.30% this quarter compared to what was recorded in the comparable quarter last year. From the analysts’ viewpoint, the consensus estimate for the company’s annual revenue in 2024 is $105.27 million. The company’s revenue is forecast to grow by 76.60% over what it did in 2024.
A company’s earnings reviews provide a brief indication of a stock’s direction in the short term, where in the case of Arcutis Biotherapeutics Inc No upward and no downward comments were posted in the last 7 days. On the technical side, indicators suggest ARQT has a 50% Buy on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a 100% Buy, while an average of long term indicators suggests that the stock is currently 50% Buy.
A quick review shows that ARQT’s price is currently -4.48% off the SMA20 and 21.68% off the SMA50. The RSI metric on the 14-day chart is currently showing 52.96, and weekly volatility stands at 7.64%. When measured over the past 30 days, the indicator reaches 9.62%. Arcutis Biotherapeutics Inc (NASDAQ:ARQT)’s beta value is currently sitting at 1.14, while the Average True Range indicator is currently displaying 0.87.
To see how Arcutis Biotherapeutics Inc stock has been performing in comparison to its peers in the industry, here are the numbers: ARQT stock’s performance was 3.34% in the latest trading, and -3.22% in the past year.
An evaluation of the daily trading volume of Arcutis Biotherapeutics Inc (NASDAQ:ARQT) indicates that the 3-month average is 5.29 million. However, this figure has increased over the past 10 days to an average of 3.36 million.
Currently, records show that 114.97 million of the company’s shares remain outstanding. The insiders hold 8.72% of outstanding shares, whereas institutions hold 84.27%. The stats also highlight that short interest as of Mar 15, 2024, stood at 14.99 million shares, resulting in a short ratio of 2.71 at that time. From this, we can conclude that short interest is 13.04% of the company’s total outstanding shares. It is noteworthy that short shares in March were down slightly from the previous month’s figure, which was 16.94 million. However, since the stock’s price has seen 206.81% year-to-date, investors’ interest is likely to be reignited due to its potential to move even higher.
