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Arcutis Biotherapeutics Inc Up 15.67% To $11.26 After Earnings Beat

Tuesday, February 27, 2024 10:59 AM | InvestorsObserver Analysts

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Arcutis Biotherapeutics Inc Up 15.67% To $11.26 After Earnings Beat

Arcutis Biotherapeutics Inc (ARQT) said before open Tuesday that it lost $0.72 per share in quarter four 2023.

On the revenue line, the company reported $13.5 million, beating estimates by $2.2 million.

In the same quarter a year ago, the company lost $1.18 per share on revenue of $3 million.

The stock is up 15.67% to $11.26 after the report.

The firm's higher revenue growth to earnings signals that the firm has not been able to reduce costs and has seen its profit margin decrease.

Wall Street Analysts had an average rating of Buy on the stock prior to the report.

InvestorsObserver gives the stock a Bullish Sentiment score at the moment based on recent trading.

Arcutis Biotherapeutics Inc has been a strong performer over the past few months, garnering a high Long-Term Technical Rank by InvestorsObserver of 99, putting Arcutis Biotherapeutics Inc in the top 25% of stocks. The firm was recently trading at a 52-week low of $1.76 on December 1, 2023 and set a 52-week high on March 1, 2023 at $17.57.

Arcutis Biotherapeutics Inc is a medical dermatology company. It is developing treatments for patients with immune-mediated dermatological diseases and conditions. It is leveraging recent advances in immunology and inflammation to develop differentiated therapies against biologically validated targets to solve persistent treatment challenges in serious diseases of the skin. The company's lead product candidate, roflumilast cream, has successfully completed pivotal Phase 3 clinical trials in plaque psoriasis, demonstrating symptomatic improvement and favorable tolerability in this population.

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