Arcutis Biotherapeutics (NASDAQ:ARQT) Trading 13.1% Higher – Should You Buy?

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT)’s share price traded up 13.1% during mid-day trading on Monday . The company traded as high as $15.01 and last traded at $16.53. 437,984 shares changed hands during trading, a decline of 82% from the average session volume of 2,382,324 shares. The stock had previously closed at $14.62.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $20.00 price target on shares of Arcutis Biotherapeutics in a research note on Wednesday, February 26th. HC Wainwright reaffirmed a “buy” rating and set a $19.00 price target on shares of Arcutis Biotherapeutics in a research note on Wednesday, February 26th. Mizuho upped their price target on shares of Arcutis Biotherapeutics from $20.00 to $21.00 and gave the company an “outperform” rating in a research note on Wednesday, February 26th. Guggenheim reiterated a “buy” rating on shares of Arcutis Biotherapeutics in a research report on Monday, February 24th. Finally, Jefferies Financial Group boosted their price objective on shares of Arcutis Biotherapeutics from $16.00 to $19.00 and gave the company a “buy” rating in a research report on Tuesday, March 11th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.80.

Arcutis Biotherapeutics Price Performance

The company has a debt-to-equity ratio of 0.67, a current ratio of 2.46 and a quick ratio of 2.38. The firm has a market cap of $1.88 billion, a P/E ratio of -8.87 and a beta of 1.48. The stock’s 50-day simple moving average is $13.55 and its two-hundred day simple moving average is $11.92.

Arcutis Biotherapeutics (NASDAQ:ARQT) last posted its quarterly earnings results on Tuesday, February 25th. The company reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.19. The firm had revenue of $71.36 million for the quarter, compared to analysts’ expectations of $60.52 million. Arcutis Biotherapeutics had a negative net margin of 140.97% and a negative return on equity of 119.11%. Equities research analysts forecast that Arcutis Biotherapeutics, Inc. will post -1.33 earnings per share for the current fiscal year.

Insider Transactions at Arcutis Biotherapeutics

In other news, insider Patrick Burnett sold 12,242 shares of the company’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $15.04, for a total value of $184,119.68. Following the transaction, the insider now directly owns 121,936 shares in the company, valued at approximately $1,833,917.44. This represents a 9.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Howard G. Welgus sold 10,000 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $13.00, for a total transaction of $130,000.00. Following the completion of the transaction, the director now owns 131,944 shares in the company, valued at approximately $1,715,272. The trade was a 7.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 70,090 shares of company stock worth $981,768. Insiders own 9.50% of the company’s stock.

Institutional Trading of Arcutis Biotherapeutics

A number of hedge funds have recently added to or reduced their stakes in the business. Jennison Associates LLC lifted its stake in Arcutis Biotherapeutics by 5.8% in the fourth quarter. Jennison Associates LLC now owns 12,339,792 shares of the company’s stock worth $171,893,000 after acquiring an additional 676,295 shares during the period. Suvretta Capital Management LLC lifted its stake in Arcutis Biotherapeutics by 6.3% in the fourth quarter. Suvretta Capital Management LLC now owns 11,399,138 shares of the company’s stock worth $158,790,000 after acquiring an additional 677,627 shares during the period. Rubric Capital Management LP lifted its stake in Arcutis Biotherapeutics by 11.7% in the third quarter. Rubric Capital Management LP now owns 10,966,672 shares of the company’s stock worth $101,990,000 after acquiring an additional 1,150,000 shares during the period. Polar Capital Holdings Plc lifted its stake in Arcutis Biotherapeutics by 7.2% in the fourth quarter. Polar Capital Holdings Plc now owns 7,377,381 shares of the company’s stock worth $102,767,000 after acquiring an additional 493,009 shares during the period. Finally, State Street Corp lifted its stake in Arcutis Biotherapeutics by 9.9% in the third quarter. State Street Corp now owns 5,641,631 shares of the company’s stock worth $52,467,000 after acquiring an additional 506,788 shares during the period.

About Arcutis Biotherapeutics

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.