Market Close
$27.28
$1.11 (4.24%)
Volume % Chg:
37%
Buy Point:
$17.29
Buy Range:
$17.29 - $18.15
Current Action:
Arcutis Biotherapeutics soared after reporting earnings on Oct. 28. It is now hitting new highs. The stock recently rebounded off its 21-day exponential moving average, a bullish sign.
Leaderboard Analysis:
The biotech is hitting new highs after a breakout from a cup-with-handle base during the week ended Sept. 5. A weekly chart shows the stock making a tremendous comeback since ARQT peaked at 40.88 not long after its early 2020 IPO, then nose-dived to as low as 1.76 more than 3-1/2 years later in December of 2023.
Backstory:
Arcutis' specialty is medical dermatology, including conditions like psoriasis and atopic dermatitis.Arcutis has several FDA-approved products, including topical roflumilast cream for plaque psoriasis. The company reported an adjusted Q3 profit of 6 cents a share, reversing a year-ago loss, while revenue jumped 112% to $99.2 million. While sales have climbed steadily for many quarters, Arcutis had bled red ink for at least seven years until the solid profit in Q3 of this year. Earnings are expected to come in at 7 cents a share in Q4. Wall Street has shifted its profit forecast in 2026 up to 45 cents a share, a big change from a net loss of $1.16 in 2024 and an expected loss of 21 cents in 2025.
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