Arcutis Biotherapeutics (NASDAQ:ARQT) PT Raised to $50.00

Arcutis Biotherapeutics (NASDAQ:ARQTGet Rating) had its price target upped by The Goldman Sachs Group from $45.00 to $50.00 in a research note released on Tuesday, Marketbeat Ratings reports. The brokerage currently has a buy rating on the stock.

Other equities analysts also recently issued research reports about the stock. Mizuho decreased their target price on shares of Arcutis Biotherapeutics from $58.00 to $57.00 and set a buy rating for the company in a research note on Thursday, April 7th. Morgan Stanley raised their target price on shares of Arcutis Biotherapeutics from $39.00 to $45.00 and gave the company an overweight rating in a research note on Tuesday.

Arcutis Biotherapeutics Price Performance

ARQT stock opened at $25.15 on Tuesday. Arcutis Biotherapeutics has a 1 year low of $13.59 and a 1 year high of $26.13. The company has a market cap of $1.29 billion, a P/E ratio of -5.39 and a beta of 0.33. The firm has a 50-day moving average of $22.13 and a 200 day moving average of $19.50. The company has a debt-to-equity ratio of 0.29, a current ratio of 10.89 and a quick ratio of 10.89.

Arcutis Biotherapeutics (NASDAQ:ARQTGet Rating) last announced its earnings results on Thursday, August 4th. The company reported ($1.31) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.41) by $0.10. On average, sell-side analysts forecast that Arcutis Biotherapeutics will post -5.65 EPS for the current year.

Insider Activity

In other news, CEO Todd Franklin Watanabe sold 13,500 shares of the stock in a transaction that occurred on Friday, July 8th. The shares were sold at an average price of $25.37, for a total transaction of $342,495.00. Following the sale, the chief executive officer now owns 651,871 shares in the company, valued at $16,537,967.27. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, Director Howard G. Welgus sold 6,000 shares of the firm’s stock in a transaction that occurred on Monday, July 18th. The shares were sold at an average price of $24.40, for a total value of $146,400.00. Following the sale, the director now owns 180,208 shares in the company, valued at $4,397,075.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Todd Franklin Watanabe sold 13,500 shares of Arcutis Biotherapeutics stock in a transaction on Friday, July 8th. The stock was sold at an average price of $25.37, for a total transaction of $342,495.00. Following the transaction, the chief executive officer now owns 651,871 shares in the company, valued at approximately $16,537,967.27. The disclosure for this sale can be found here. Insiders have sold a total of 368,963 shares of company stock worth $7,941,158 over the last 90 days. 23.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of ARQT. Frazier Life Sciences Management L.P. purchased a new position in shares of Arcutis Biotherapeutics during the 1st quarter worth $162,443,000. Point72 Asset Management L.P. boosted its stake in shares of Arcutis Biotherapeutics by 32.7% during the 4th quarter. Point72 Asset Management L.P. now owns 2,644,177 shares of the company’s stock worth $54,840,000 after acquiring an additional 652,070 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of Arcutis Biotherapeutics during the 4th quarter worth $12,809,000. Jennison Associates LLC purchased a new position in shares of Arcutis Biotherapeutics during the 2nd quarter worth $9,270,000. Finally, GW&K Investment Management LLC purchased a new position in shares of Arcutis Biotherapeutics during the 1st quarter worth $4,093,000. Hedge funds and other institutional investors own 87.59% of the company’s stock.

Arcutis Biotherapeutics Company Profile

(Get Rating)

Arcutis Biotherapeutics, Inc, a biopharmaceutical company, focuses on developing and commercializing treatments for dermatological diseases. Its lead product candidate is ARQ-151, a topical roflumilast cream that has completed Phase III clinical trials for the treatment of plaque psoriasis and atopic dermatitis.

Further Reading

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