Arcutis Biotherapeutics Inc reports results for the quarter ended in March - Earnings Summary

Arcutis Biotherapeutics

14/05/2024 22:22

* Arcutis Biotherapeutics Inc  ARQT.OQ  reported a quarterly
adjusted loss of 32 cents​​ per share for the quarter ended in
March, higher than the same quarter last year, when the company
reported EPS of $-1.31.  The mean expectation of five analysts
for the quarter was for a loss of 73 cents per share. Wall
Street expected results to range from -91 cents to -60 cents per
share.
    * Revenue rose 1,682.4% to $49.57 million from a year ago;
analysts expected $14.68 million. 
    * Arcutis Biotherapeutics Inc's reported EPS for the quarter
was a
loss of 32 cents​.
    * The company reported a quarterly loss of $35.38 million.
    * Arcutis Biotherapeutics Inc shares had fallen by 19.4%
this
quarter and gained 147.4% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 9.1%
in the last three months.​ 
    * In the last 30 days, there have been no negative revisions
of
earnings estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 5 "strong buy" or "buy," 2
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the biotechnology
&
medical research peer group is also "buy"

Wall Street's median 12-month price target for Arcutis
Biotherapeutics Inc is $17.50 
This summary was machine generated from LSEG data May 14 at
09:22 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Mar. 31 2024      -0.73          -0.32          Beat
 Dec. 31 2023      -0.77          -0.72          Beat
 Sep. 30 2023      -0.86          -0.73          Beat
 Jun. 30 2023      -1.25          -1.16          Beat