Symbols / ARQT Stock $21.60 +0.14% Arcutis Biotherapeutics, Inc.

Healthcare • Biotechnology • United States • NMS
ARQT (Stock) Chart
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Stock Fundamentals
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Index EQUITY
Sector Healthcare
Industry Biotechnology
CEO Mr. Todd Franklin Watanabe M.A.
Exch · Country NMS · United States
Market Cap 2.70B
Enterprise Value 2.59B
Income -2.38M
Sales 415.62M
FCF (ttm) 3.53M
Book/sh 1.52
Cash/sh 1.79
Employees 354
Insider 10d —
IPO Jan 31, 2020
Div forward ($/yr)
Div TTM ($/yr)
Dividend Yield
Ex-Div Date
5Y Avg Yield
Yield vs 5Y Avg
Payout 0.00%
P/E —
Forward P/E 18.69
PEG —
P/S 6.50
P/B 14.24
P/C —
EV/EBITDA 473.86
EV/Sales 6.23
Quick Ratio 2.26
Current Ratio 2.68
Debt/Eq 60.47
LT Debt/Eq —
EPS (ttm) -0.02
EPS next Y 1.16
EPS Growth —
Revenue Growth 60.10%
EPS Gr Q/Q —
Rev Gr Q/Q —
Earnings (next) 2026-08-05
Earnings (prior) 2026-05-06
ROA 0.50%
ROE -1.43%
ROIC —
Gross Margin 90.94%
Oper. Margin -8.62%
Profit Margin -0.57%
Shs Outstand 125.08M
Shs Float 92.96M
Insider Own 1.76%
Instit Own 106.94%
Short Float 14.39%
Short Ratio 15.31
Short Interest 16.88M
52W High 31.77
vs 52W High -32.01%
52W Low 12.72
vs 52W Low 69.81%
Beta 1.59
Impl. Vol. 2.79%
Rel Volume 0.37
Avg Volume 1.50M
Volume 560.58K
Target (mean) $34.62
Tgt Median $35.00
Tgt Low $33.00
Tgt High $36.00
# Analysts 8
Recom Strong_buy
Prev Close $21.57
Price $21.60
Change 0.14%
About

Arcutis Biotherapeutics, Inc., a biopharmaceutical company, focuses on developing and commercializing treatments for dermatological diseases. The company's lead product is ZORYVE, a topical roflumilast cream for the treatment of plaque psoriasis and atopic dermatitis. It also develops ZORYVE foam seborrheic dermatitis, and scalp and body psoriasis treatment; ARQ-234, a fusion protein that is a potent and highly selective checkpoint agonist of the CD200 receptor. The company was formerly known as Arcutis, Inc. and changed its name to Arcutis Biotherapeutics, Inc. in October 2019. Arcutis Biotherapeutics, Inc. was incorporated in 2016 and is headquartered in Westlake Village, California.

Valuation Models

Price estimates from analyst targets and simple models.

1. Analyst consensus
$34.63
Mean price target
2. Current target
$21.60
Latest analyst target
3. DCF / Fair value
$0.51
Simplified: (Free Cash Flow ÷ Shares) × 18 (P/FCF multiple). Not a …
Ratings
Current target
$21.60
Low
$33.00
High
$36.00
Mean
$34.63

Latest analyst rating changes

Date Action Analyst Rating Change Price Target
2026-05-07 reit Needham Buy → Buy $36
2026-03-02 main Mizuho Outperform → Outperform $35
2026-02-27 main Guggenheim Buy → Buy $35
2026-02-26 main TD Cowen Buy → Buy $35
2026-02-26 main HC Wainwright & Co. Buy → Buy $34
2026-02-26 main Needham Buy → Buy $36
2026-01-26 main Needham Buy → Buy $31
2025-11-28 main Mizuho Outperform → Outperform $37
2025-10-30 main Goldman Sachs Neutral → Neutral $29
2025-10-28 main Needham Buy → Buy $30
2025-08-07 main Needham Buy → Buy $22
2025-07-25 init Goldman Sachs — → Neutral $18
2025-05-23 reit Needham Buy → Buy $20
2025-04-09 reit Needham Buy → Buy $20
2025-04-03 reit Guggenheim Buy → Buy —
2025-04-03 reit HC Wainwright & Co. Buy → Buy $19
2025-04-03 reit Needham Buy → Buy $20
2025-03-11 main Jefferies Buy → Buy $19
2025-02-27 main Goldman Sachs Neutral → Neutral $15
2025-02-26 reit HC Wainwright & Co. Buy → Buy $19
News
RSS: Latest ARQT news
Insider Transactions
Filed Date Insider Relationship Transaction Shares Price Value SEC
2026-05-11 VAIRAVAN LATHA Chief Financial Officer — 435 $21.05 $9,157
2026-05-11 BURNETT PATRICK Officer — 222 $21.05 $4,673
2026-05-04 VAIRAVAN LATHA Chief Financial Officer — 1,341 $23.61 $31,662
2026-05-04 BURNETT PATRICK Officer — 684 $23.61 $16,150
2026-05-04 MATSUDA MASARU Officer — 8,256 $23.27 $192,415
2026-05-04 WATANABE TODD FRANKLIN Chief Executive Officer — 3,172 $23.61 $74,893
2026-05-01 WELGUS HOWARD G Director — 7,144 $22.99 $164,220
2026-04-01 WELGUS HOWARD G Director — 10,000 $23.88 $238,801
2026-03-02 LEONARD KEITH R JR Director — 39,272 $7.51 $325,231
2026-03-02 EDWARDS LARRY TODD Officer — 3,687 $25.16 $92,846
Financials
Statement View
Amounts in millions (2 decimals, no suffix) • EPS per share (2 decimals) • Trend = period evolution • YoY Growth = previous period %
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Total Revenue
376.07
+91.34%
196.54
+229.74%
59.61
+1517.09%
3.69
Operating Revenue
372.07
+123.41%
166.54
+470.62%
29.19
+691.81%
3.69
Cost Of Revenue
36.70
+91.84%
19.13
+283.56%
4.99
+561.41%
0.75
Reconciled Cost Of Revenue
36.70
+91.84%
19.13
+283.56%
4.99
+561.41%
0.75
Gross Profit
339.38
+91.29%
177.41
+224.82%
54.62
+1762.86%
2.93
Operating Expense
351.60
+14.97%
305.81
+3.41%
295.72
-2.90%
304.56
Research And Development
77.05
+0.83%
76.42
-30.89%
110.58
-39.39%
182.44
Selling General And Administration
274.55
+19.69%
229.39
+23.90%
185.15
+51.60%
122.12
General And Administrative Expense
—
—
—
—
Other Gand A
—
—
—
—
Total Expenses
388.30
+19.50%
324.94
+8.06%
300.71
-1.51%
305.31
Operating Income
-12.23
+90.48%
-128.40
+46.75%
-241.10
+20.07%
-301.63
Total Operating Income As Reported
-12.23
+90.48%
-128.40
+46.75%
-241.10
+20.07%
-301.63
EBITDA
1.78
+101.61%
-110.27
+51.76%
-228.56
+22.49%
-294.87
Normalized EBITDA
1.78
+101.61%
-110.27
+51.76%
-228.56
+22.49%
-294.87
Reconciled Depreciation
4.67
+138.23%
1.96
+161.20%
0.75
-19.70%
0.93
EBIT
-2.89
+97.43%
-112.22
+51.06%
-229.31
+22.48%
-295.81
Net Income
-16.14
+88.47%
-140.04
+46.58%
-262.14
+15.83%
-311.46
Pretax Income
-14.97
+89.26%
-139.39
+46.19%
-259.03
+16.83%
-311.46
Net Non Operating Interest Income Expense
-3.19
+71.15%
-11.04
+35.78%
-17.20
-9.86%
-15.65
Interest Expense Non Operating
12.08
-55.52%
27.17
-8.56%
29.71
+89.83%
15.65
Net Interest Income
-3.19
+71.15%
-11.04
+35.78%
-17.20
-9.86%
-15.65
Interest Expense
12.08
-55.52%
27.17
-8.56%
29.71
+89.83%
15.65
Interest Income Non Operating
8.90
-44.83%
16.13
+28.83%
12.52
—
Interest Income
8.90
-44.83%
16.13
+28.83%
12.52
—
Other Income Expense
0.44
+842.55%
0.05
+106.43%
-0.73
-112.56%
5.82
Other Non Operating Income Expenses
0.44
+842.55%
0.05
+106.43%
-0.73
-112.56%
5.82
Tax Provision
1.17
+80.99%
0.65
-79.22%
3.11
0.00
Tax Rate For Calcs
0.00
+0.00%
0.00
+0.00%
0.00
0.00
Tax Effect Of Unusual Items
0.00
0.00
0.00
0.00
Net Income Including Noncontrolling Interests
-16.14
+88.47%
-140.04
+46.58%
-262.14
+15.83%
-311.46
Net Income From Continuing Operation Net Minority Interest
-16.14
+88.47%
-140.04
+46.58%
-262.14
+15.83%
-311.46
Net Income From Continuing And Discontinued Operation
-16.14
+88.47%
-140.04
+46.58%
-262.14
+15.83%
-311.46
Net Income Continuous Operations
-16.14
+88.47%
-140.04
+46.58%
-262.14
+15.83%
-311.46
Normalized Income
-16.14
+88.47%
-140.04
+46.58%
-262.14
+15.83%
-311.46
Net Income Common Stockholders
-16.14
+88.47%
-140.04
+46.58%
-262.14
+15.83%
-311.46
Diluted EPS
-0.13
+88.79%
-1.16
+69.31%
-3.78
+33.22%
-5.66
Basic EPS
-0.13
+88.79%
-1.16
+69.31%
-3.78
+33.22%
-5.66
Basic Average Shares
127.23
+5.19%
120.96
+74.53%
69.31
+25.94%
55.03
Diluted Average Shares
127.23
+5.19%
120.96
+74.53%
69.31
+25.94%
55.03
Diluted NI Availto Com Stockholders
-16.14
+88.47%
-140.04
+46.58%
-262.14
+15.83%
-311.46
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Total Assets
432.97
+24.10%
348.89
+2.20%
341.37
-24.02%
449.27
Current Assets
411.23
+22.46%
335.82
+1.63%
330.43
-24.46%
437.41
Cash Cash Equivalents And Short Term Investments
220.98
-3.06%
227.96
-16.15%
271.86
-33.63%
409.59
Cash And Cash Equivalents
42.91
-39.85%
71.33
-19.30%
88.40
+64.80%
53.64
Cash Equivalents
42.91
-39.85%
71.33
-19.30%
88.40
+64.80%
53.64
Other Short Term Investments
178.07
+13.70%
156.62
-14.63%
183.46
-48.46%
355.95
Receivables
146.23
+100.13%
73.07
+183.12%
25.81
+205.12%
8.46
Accounts Receivable
146.23
+100.13%
73.07
+183.12%
25.81
+205.12%
8.46
Taxes Receivable
—
—
—
—
Inventory
22.63
+55.82%
14.53
+10.60%
13.13
+74.79%
7.51
Raw Materials
5.05
+17.37%
4.30
-56.79%
9.95
+75.84%
5.66
Work In Process
5.03
+761.82%
0.58
+20.16%
0.49
+23.04%
0.40
Finished Goods
12.55
+30.20%
9.64
+257.51%
2.70
+84.73%
1.46
Prepaid Assets
12.06
+13.65%
10.61
+1.11%
10.50
+141.07%
4.35
Restricted Cash
0.31
-50.08%
0.62
-33.30%
0.93
-25.04%
1.23
Other Current Assets
9.02
-0.29%
9.04
+10.17%
8.21
+31.18%
6.26
Total Non Current Assets
21.74
+66.36%
13.07
+19.53%
10.93
-7.87%
11.87
Net PPE
5.51
+84.03%
2.99
-23.23%
3.90
-15.25%
4.60
Gross PPE
8.76
+57.57%
5.56
-4.57%
5.82
+1.20%
5.75
Accumulated Depreciation
-3.25
-26.68%
-2.56
-33.26%
-1.92
-66.87%
-1.15
Properties
0.00
0.00
0.00
0.00
Machinery Furniture Equipment
2.72
+33.68%
2.04
+7.49%
1.90
+29.26%
1.47
Construction In Progress
—
—
—
—
Other Properties
4.47
+128.73%
1.95
-17.28%
2.36
-13.23%
2.72
Leases
1.57
+0.00%
1.57
+0.00%
1.57
+0.00%
1.57
Goodwill And Other Intangible Assets
14.81
+56.26%
9.48
+47.24%
6.44
-10.43%
7.19
Other Non Current Assets
1.42
+138.09%
0.60
+0.00%
0.60
+664.10%
0.08
Total Liabilities Net Minority Interest
243.49
+27.25%
191.35
-24.28%
252.70
+5.43%
239.69
Current Liabilities
129.84
+60.27%
81.01
+73.59%
46.67
+23.44%
37.81
Payables And Accrued Expenses
108.31
+79.71%
60.27
+94.02%
31.06
+34.17%
23.15
Payables
12.53
-11.90%
14.22
+18.58%
11.99
+35.86%
8.83
Accounts Payable
12.53
-11.90%
14.22
+18.58%
11.99
+35.86%
8.83
Current Accrued Expenses
95.78
+108.00%
46.05
+141.47%
19.07
+33.14%
14.32
Pensionand Other Post Retirement Benefit Plans Current
20.53
-1.03%
20.75
+39.50%
14.87
+6.23%
14.00
Current Debt And Capital Lease Obligation
1.00
+21.95%
0.82
+11.56%
0.73
+11.87%
0.66
Current Debt
1.00
—
—
—
Other Current Borrowings
1.00
—
—
—
Current Capital Lease Obligation
—
0.82
+11.56%
0.73
+11.87%
0.66
Total Non Current Liabilities Net Minority Interest
113.66
+3.01%
110.33
-46.45%
206.03
+2.05%
201.89
Long Term Debt And Capital Lease Obligation
113.22
+3.15%
109.77
-46.50%
205.18
+1.63%
201.89
Long Term Debt
107.96
+0.71%
107.20
-46.88%
201.80
+2.04%
197.77
Long Term Capital Lease Obligation
5.27
+105.54%
2.56
-24.25%
3.38
-17.85%
4.12
Other Non Current Liabilities
0.43
-24.39%
0.57
-32.86%
0.85
—
Stockholders Equity
189.48
+20.27%
157.54
+77.68%
88.67
-57.69%
209.58
Common Stock Equity
189.48
+20.27%
157.54
+77.68%
88.67
-57.69%
209.58
Capital Stock
0.01
+0.00%
0.01
+33.33%
0.01
+50.00%
0.01
Common Stock
0.01
+0.00%
0.01
+33.33%
0.01
+50.00%
0.01
Preferred Stock
—
0.00
0.00
0.00
Share Issued
123.33
+4.65%
117.85
+21.76%
96.79
+58.57%
61.04
Ordinary Shares Number
123.33
+4.65%
117.85
+21.76%
96.79
+58.57%
61.04
Additional Paid In Capital
1,327.60
+3.76%
1,279.48
+19.52%
1,070.56
+15.06%
930.42
Retained Earnings
-1,138.08
-1.44%
-1,121.94
-14.26%
-981.90
-36.42%
-719.76
Gains Losses Not Affecting Retained Earnings
-0.04
-528.57%
-0.01
-275.00%
0.00
+100.37%
-1.09
Other Equity Adjustments
-0.04
-528.57%
-0.01
-275.00%
0.00
+100.37%
-1.09
Total Equity Gross Minority Interest
189.48
+20.27%
157.54
+77.68%
88.67
-57.69%
209.58
Total Capitalization
297.44
+12.35%
264.74
-8.86%
290.47
-28.69%
407.35
Working Capital
281.39
+10.43%
254.81
-10.20%
283.76
-28.99%
399.60
Invested Capital
298.44
+12.73%
264.74
-8.86%
290.47
-28.69%
407.35
Total Debt
114.22
+4.06%
109.77
-46.69%
205.92
+1.67%
202.54
Net Debt
66.05
+84.15%
35.87
-68.37%
113.40
-21.32%
144.13
Capital Lease Obligations
5.27
+105.54%
2.56
-37.77%
4.12
-13.76%
4.77
Net Tangible Assets
174.67
+17.97%
148.06
+80.06%
82.23
-59.37%
202.39
Tangible Book Value
174.67
+17.97%
148.06
+80.06%
82.23
-59.37%
202.39
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Operating Cash Flow
-5.62
+94.98%
-112.16
+54.60%
-247.06
+4.14%
-257.71
Cash Flow From Continuing Operating Activities
-5.62
+94.98%
-112.16
+54.60%
-247.06
+4.14%
-257.71
Net Income From Continuing Operations
-16.14
+88.47%
-140.04
+46.58%
-262.14
+15.83%
-311.46
Depreciation Amortization Depletion
4.67
+138.23%
1.96
+161.20%
0.75
-19.70%
0.93
Depreciation
—
0.64
-16.99%
0.77
+23.95%
0.62
Amortization Cash Flow
4.67
+138.23%
1.96
+161.20%
0.75
+140.38%
0.31
Depreciation And Amortization
4.67
+138.23%
1.96
+161.20%
0.75
-19.70%
0.93
Amortization Of Intangibles
4.67
+138.23%
1.96
+161.20%
0.75
+140.38%
0.31
Other Non Cash Items
2.41
-60.99%
6.17
+2.71%
6.01
-81.54%
32.55
Stock Based Compensation
40.36
-3.27%
41.73
+7.52%
38.81
+18.76%
32.68
Operating Gains Losses
—
-0.28
-132.86%
0.85
—
Gain Loss On Investment Securities
—
-0.28
-132.86%
0.85
—
Gain Loss On Sale Of PPE
—
—
—
0.00
Change In Working Capital
-34.83
-130.96%
-15.08
+35.83%
-23.50
-130.97%
-10.18
Change In Receivables
-73.16
-54.81%
-47.26
-172.40%
-17.35
-105.12%
-8.46
Changes In Account Receivables
-73.16
-54.81%
-47.26
-172.40%
-17.35
-105.12%
-8.46
Change In Inventory
-7.33
-1732.25%
-0.40
+92.88%
-5.62
+25.21%
-7.51
Change In Prepaid Assets
-2.01
-111.71%
-0.95
+89.00%
-8.62
-348.30%
3.47
Change In Payables And Accrued Expense
48.35
+41.12%
34.26
+291.74%
8.75
+217.11%
2.76
Change In Accrued Expense
50.04
+56.23%
32.03
+472.63%
5.59
+368.90%
1.19
Change In Payable
-1.69
-176.00%
2.23
-29.28%
3.15
+101.41%
1.56
Change In Account Payable
-1.69
-176.00%
2.23
-29.28%
3.15
+101.41%
1.56
Change In Other Current Liabilities
-0.68
+7.48%
-0.73
-11.87%
-0.66
-51.73%
-0.43
Investing Cash Flow
-30.25
-204.97%
28.82
-84.01%
180.23
+306.69%
-87.20
Cash Flow From Continuing Investing Activities
-30.25
-204.97%
28.82
-84.01%
180.23
+306.69%
-87.20
Net PPE Purchase And Sale
-0.69
-379.72%
-0.14
+66.59%
-0.43
-28.53%
-0.33
Purchase Of PPE
-0.69
-379.72%
-0.14
+66.59%
-0.43
-28.53%
-0.33
Capital Expenditure
-10.69
-107.78%
-5.14
-1101.64%
-0.43
+98.16%
-23.28
Net Investment Purchase And Sale
-19.57
-157.61%
33.96
-81.20%
180.66
+382.65%
-63.92
Purchase Of Investment
-246.99
+3.07%
-254.82
-12.83%
-225.84
+45.63%
-415.39
Sale Of Investment
227.42
-21.25%
288.78
-28.96%
406.50
+15.66%
351.47
Net Intangibles Purchase And Sale
-10.00
-100.00%
-5.00
0.00
+100.00%
-22.95
Purchase Of Intangibles
-10.00
-100.00%
-5.00
0.00
+100.00%
-22.95
Financing Cash Flow
6.97
-89.47%
66.20
-34.66%
101.32
-66.43%
301.80
Cash Flow From Continuing Financing Activities
6.97
-89.47%
66.20
-34.66%
101.32
-66.43%
301.80
Net Issuance Payments Of Debt
0.00
+100.00%
-100.00
0.00
-100.00%
125.00
Issuance Of Debt
—
0.00
0.00
-100.00%
125.00
Repayment Of Debt
0.00
+100.00%
-100.00
0.00
0.00
Long Term Debt Issuance
—
0.00
0.00
-100.00%
125.00
Long Term Debt Payments
0.00
+100.00%
-100.00
0.00
0.00
Net Long Term Debt Issuance
0.00
+100.00%
-100.00
0.00
-100.00%
125.00
Net Common Stock Issuance
0.00
-100.00%
161.68
+63.48%
98.90
-43.82%
176.05
Proceeds From Stock Option Exercised
6.97
+54.27%
4.52
+86.62%
2.42
-17.56%
2.94
Net Other Financing Charges
—
—
—
-2.19
Changes In Cash
-28.91
-68.68%
-17.14
-149.67%
34.50
+180.01%
-43.12
Effect Of Exchange Rate Changes
0.17
+171.49%
-0.23
-370.00%
-0.05
0.00
Beginning Cash Position
71.95
-19.45%
89.32
+62.78%
54.88
-44.00%
97.99
End Cash Position
43.22
-39.94%
71.95
-19.45%
89.32
+62.78%
54.88
Free Cash Flow
-16.31
+86.09%
-117.30
+52.60%
-247.49
+11.93%
-281.00
Interest Paid Supplemental Data
10.33
-53.50%
22.21
-12.72%
25.45
+101.37%
12.64
Amortization Of Securities
-2.09
+69.66%
-6.90
+1.26%
-6.99
-210.21%
-2.25
Common Stock Issuance
0.00
-100.00%
161.68
+63.48%
98.90
-43.82%
176.05
Issuance Of Capital Stock
0.00
-100.00%
161.68
+63.48%
98.90
-43.82%
176.05
Net Preferred Stock Issuance
—
—
—
—
Preferred Stock Issuance
—
—
—
—
SEC Filings

Recent 10-K, 10-Q, 8-K, and Form 4 (insider) filings.

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