Arcutis Biotherapeutics Inc (NASDAQ:ARQT) shares, rose in value, with the stock price up by 2.45% to the previous day’s close as strong demand from buyers drove the stock to $9.63.
Actively observing the price movement in the last trading, the stock closed the session at $9.40. The value of beta (5-year monthly) was 1.15. Referring to stock’s 52-week performance, its high was $15.40, and the low was $1.76. On the whole, ARQT has fluctuated by -12.05% over the past month.
With the market capitalization of Arcutis Biotherapeutics Inc currently standing at about $1.11 billion, investors are eagerly awaiting this quarter’s results, scheduled for May 07, 2024 – May 13, 2024. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.74, which is expected to increase to -$0.63 for fiscal year -$2.51 and then to about -$1.46 by fiscal year 2025. Data indicates that the EPS growth is expected to be 33.60% in 2025, while the next year’s EPS growth is forecast to be 41.80%.
Analysts have estimated the company’s revenue for the quarter at $13.94 million, with a low estimate of $13 million and a high estimate of $15.5 million. According to the average forecast, sales growth in current quarter could jump up 401.30%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $105.27 million, representing an increase of 76.60% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that ARQT’s technical picture suggests that short-term indicators denote the stock is a 50% Buy on average. However, medium term indicators have put the stock in the category of 100% Buy while long term indicators on average have been pointing out that it is a 50% Buy.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of ARQT currently trading nearly -5.34% and 12.94% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 50.50, while the 7-day volatility ratio is showing 5.64% which for the 30-day chart, stands at 8.22%. Furthermore, Arcutis Biotherapeutics Inc (ARQT)’s beta value is 1.15, and its average true range (ATR) is 0.82.
A comparison of Arcutis Biotherapeutics Inc (ARQT) with its peers suggests the former has fared considerably weaker in the market. ARQT showed an intraday change of 2.45% in last session, and over the past year, it shrunk by -12.45%%.
Data on historical trading for Arcutis Biotherapeutics Inc (NASDAQ:ARQT) indicates that the trading volumes over the past 10 days have averaged 3.05 million and over the past 3 months, they’ve averaged 5.09 million. According to company’s latest data on outstanding shares, there are 114.97 million shares outstanding.
Nearly 8.72% of Arcutis Biotherapeutics Inc’s shares belong to company insiders and institutional investors own 84.29% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 14.99 million shares as on Mar 15, 2024, resulting in a short ratio of 2.71. According to the data, the short interest in Arcutis Biotherapeutics Inc (ARQT) stood at 13.04% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 16.94 million. The stock has risen by 198.14% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the ARQT stock heading into the next quarter.
