Arcutis Biotherapeutics (NASDAQ:ARQT) Sets New 52-Week High – Should You Buy?

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) shares reached a new 52-week high on Tuesday . The company traded as high as $17.75 and last traded at $17.42, with a volume of 568999 shares trading hands. The stock had previously closed at $17.29.

Analysts Set New Price Targets

ARQT has been the subject of a number of analyst reports. HC Wainwright reiterated a “buy” rating and issued a $19.00 price target on shares of Arcutis Biotherapeutics in a research note on Wednesday, February 26th. Jefferies Financial Group upped their price target on Arcutis Biotherapeutics from $16.00 to $19.00 and gave the stock a “buy” rating in a research note on Tuesday, March 11th. The Goldman Sachs Group lifted their price objective on shares of Arcutis Biotherapeutics from $13.00 to $15.00 and gave the company a “neutral” rating in a research report on Thursday, February 27th. Guggenheim reaffirmed a “buy” rating on shares of Arcutis Biotherapeutics in a research note on Monday, February 24th. Finally, Mizuho raised their price objective on Arcutis Biotherapeutics from $20.00 to $21.00 and gave the company an “outperform” rating in a research report on Wednesday, February 26th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.80.

Arcutis Biotherapeutics Stock 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 company has a market capitalization of $2.04 billion, a P/E ratio of -9.59 and a beta of 1.48. The business has a 50-day moving average of $13.75 and a 200-day moving average of $12.10.

Arcutis Biotherapeutics (NASDAQ:ARQT) last released its earnings results on Tuesday, February 25th. The company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.28) by $0.19. Arcutis Biotherapeutics had a negative return on equity of 119.11% and a negative net margin of 140.97%. The business had revenue of $71.36 million during the quarter, compared to the consensus estimate of $60.52 million. On average, sell-side analysts anticipate that Arcutis Biotherapeutics, Inc. will post -1.33 EPS for the current year.

Insider Transactions at Arcutis Biotherapeutics

In other Arcutis Biotherapeutics news, insider Patrick Burnett sold 12,242 shares of Arcutis Biotherapeutics stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $15.04, for a total transaction of $184,119.68. Following the completion of the sale, the insider now directly owns 121,936 shares in the company, valued at approximately $1,833,917.44. The trade was a 9.12 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Howard G. Welgus sold 10,000 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $14.67, for a total transaction of $146,700.00. Following the transaction, the director now owns 151,944 shares of the company’s stock, valued at $2,229,018.48. This represents a 6.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 56,290 shares of company stock valued at $775,350. Corporate insiders own 9.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of ARQT. Victory Capital Management Inc. boosted its stake in shares of Arcutis Biotherapeutics by 9.9% during the 3rd quarter. Victory Capital Management Inc. now owns 12,843 shares of the company’s stock worth $119,000 after acquiring an additional 1,155 shares in the last quarter. Quest Partners LLC acquired a new stake in Arcutis Biotherapeutics in the third quarter valued at approximately $398,000. Intech Investment Management LLC purchased a new stake in shares of Arcutis Biotherapeutics in the third quarter valued at approximately $345,000. Charles Schwab Investment Management Inc. raised its stake in shares of Arcutis Biotherapeutics by 1.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 859,846 shares of the company’s stock worth $7,997,000 after buying an additional 8,522 shares during the period. Finally, Algert Global LLC lifted its position in shares of Arcutis Biotherapeutics by 595.9% during the 3rd quarter. Algert Global LLC now owns 72,480 shares of the company’s stock valued at $674,000 after buying an additional 62,065 shares in the last quarter.

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.