Arcutis Biotherapeutics (NASDAQ:ARQT) Stock Price Up 20% – Still a Buy?

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT)’s stock price rose 20% on Wednesday . The stock traded as high as $12.08 and last traded at $13.68. Approximately 1,261,677 shares traded hands during mid-day trading, a decline of 33% from the average daily volume of 1,880,146 shares. The stock had previously closed at $11.40.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Mizuho raised their price target on shares of Arcutis Biotherapeutics from $19.00 to $20.00 and gave the stock an “outperform” rating in a report on Tuesday, January 7th. Guggenheim reaffirmed a “buy” rating on shares of Arcutis Biotherapeutics in a research note on Monday. Needham & Company LLC reissued a “buy” rating and set a $18.00 price objective on shares of Arcutis Biotherapeutics in a research report on Thursday, November 7th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $19.00 target price on shares of Arcutis Biotherapeutics in a research report on Monday, January 13th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $16.60.

Arcutis Biotherapeutics Price Performance

The company has a quick ratio of 2.38, a current ratio of 2.46 and a debt-to-equity ratio of 0.67. The firm has a market cap of $1.55 billion, a price-to-earnings ratio of -7.40 and a beta of 1.29. The company’s 50-day moving average price is $13.62 and its 200-day moving average price is $11.17.

Insider Buying and Selling

In related news, Director Howard G. Welgus sold 10,000 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $12.71, for a total transaction of $127,100.00. Following the completion of the transaction, the director now directly owns 141,944 shares of the company’s stock, valued at $1,804,108.24. This represents a 6.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Todd Franklin Watanabe sold 15,000 shares of the company’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $15.17, for a total value of $227,550.00. Following the completion of the sale, the insider now directly owns 823,430 shares in the company, valued at $12,491,433.10. This trade represents a 1.79 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 72,927 shares of company stock worth $936,675 over the last 90 days. 9.50% of the stock is owned by insiders.

Institutional Trading of Arcutis Biotherapeutics

Institutional investors have recently made changes to their positions in the stock. Victory Capital Management Inc. boosted its position in shares of Arcutis Biotherapeutics by 9.9% in the third quarter. Victory Capital Management Inc. now owns 12,843 shares of the company’s stock worth $119,000 after buying an additional 1,155 shares during the period. China Universal Asset Management Co. Ltd. grew its holdings in Arcutis Biotherapeutics by 10.4% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 24,818 shares of the company’s stock valued at $346,000 after purchasing an additional 2,336 shares in the last quarter. Point72 DIFC Ltd purchased a new stake in Arcutis Biotherapeutics during the 3rd quarter worth $25,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Arcutis Biotherapeutics by 1.1% in 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 worth $2,573,000 after buying an additional 2,912 shares in the last quarter. Finally, Venturi Wealth Management LLC acquired a new stake in shares of Arcutis Biotherapeutics during the fourth quarter valued at about $46,000.

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.