Arcutis Biotherapeutics (NASDAQ:ARQT) Earns Buy Rating from Analysts at HC Wainwright

HC Wainwright started coverage on shares of Arcutis Biotherapeutics (NASDAQ:ARQT) in a report issued on Monday, Marketbeat reports. The firm issued a buy rating and a $19.00 price target on the stock. HC Wainwright also issued estimates for Arcutis Biotherapeutics’ Q4 2024 earnings at ($0.33) EPS, FY2024 earnings at ($1.41) EPS, Q1 2025 earnings at ($0.30) EPS, Q2 2025 earnings at ($0.27) EPS, Q3 2025 earnings at ($0.25) EPS, Q4 2025 earnings at ($0.30) EPS, FY2025 earnings at ($1.13) EPS, FY2026 earnings at ($0.23) EPS, FY2027 earnings at $0.94 EPS and FY2028 earnings at $1.64 EPS.

Separately, Needham & Company LLC reaffirmed a “buy” rating and issued a $18.00 target price on shares of Arcutis Biotherapeutics in a research report on Thursday, November 7th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $16.20.

Arcutis Biotherapeutics Stock Performance

Arcutis Biotherapeutics stock opened at $13.93 on Monday. Arcutis Biotherapeutics has a fifty-two week low of $3.07 and a fifty-two week high of $15.79. The stock’s 50 day simple moving average is $11.62 and its two-hundred day simple moving average is $10.36. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.38 and a current ratio of 2.46. The stock has a market cap of $1.63 billion, a price-to-earnings ratio of -7.78 and a beta of 1.32.

Arcutis Biotherapeutics (NASDAQ:ARQT) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($0.33) earnings per share for the quarter, beating the consensus estimate of ($0.42) by $0.09. The company had revenue of $44.76 million for the quarter, compared to analyst estimates of $38.05 million. Arcutis Biotherapeutics had a negative return on equity of 119.11% and a negative net margin of 140.97%. As a group, analysts expect that Arcutis Biotherapeutics will post -1.34 earnings per share for the current fiscal year.

Insider Buying and Selling at Arcutis Biotherapeutics

In related news, insider Todd Franklin Watanabe sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $15.17, for a total transaction of $227,550.00. Following the completion of the sale, the insider now owns 823,430 shares of the company’s stock, valued at $12,491,433.10. This trade represents a 1.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Howard G. Welgus sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $8.65, for a total transaction of $86,500.00. Following the completion of the transaction, the director now owns 171,944 shares of the company’s stock, valued at approximately $1,487,315.60. The trade was a 5.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 68,291 shares of company stock worth $781,266. 9.50% of the stock is owned by insiders.

Institutional Trading of Arcutis Biotherapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the business. Victory Capital Management Inc. lifted its holdings in shares of Arcutis Biotherapeutics by 9.9% during the third quarter. Victory Capital Management Inc. now owns 12,843 shares of the company’s stock valued at $119,000 after purchasing an additional 1,155 shares in the last quarter. Point72 DIFC Ltd purchased a new position in Arcutis Biotherapeutics in the 3rd quarter worth about $25,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Arcutis Biotherapeutics by 1.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 276,691 shares of the company’s stock valued at $2,573,000 after acquiring an additional 2,912 shares during the period. Dark Forest Capital Management LP boosted its holdings in shares of Arcutis Biotherapeutics by 29.9% during the 2nd quarter. Dark Forest Capital Management LP now owns 27,612 shares of the company’s stock valued at $257,000 after acquiring an additional 6,362 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Arcutis Biotherapeutics by 1.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 859,846 shares of the company’s stock worth $7,997,000 after acquiring an additional 8,522 shares during the period.

Arcutis Biotherapeutics Company Profile

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.