Arcutis Biotherapeutics (NASDAQ:ARQT) Shares Up 4.7% – What’s Next?

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT)’s stock price traded up 4.7% during trading on Tuesday . The stock traded as high as $13.38 and last traded at $13.54. 264,459 shares traded hands during trading, a decline of 89% from the average session volume of 2,399,584 shares. The stock had previously closed at $12.94.

Wall Street Analyst Weigh In

ARQT has been the topic of a number of research reports. Guggenheim reissued a “buy” rating on shares of Arcutis Biotherapeutics in a research note on Thursday, April 3rd. HC Wainwright reaffirmed a “buy” rating and issued a $19.00 price objective on shares of Arcutis Biotherapeutics in a research note on Thursday, April 3rd. Jefferies Financial Group raised their target price on shares of Arcutis Biotherapeutics from $16.00 to $19.00 and gave the stock a “buy” rating in a report on Tuesday, March 11th. Mizuho increased 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. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $20.00 target price on shares of Arcutis Biotherapeutics in a research report on Wednesday, April 9th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $18.80.

Arcutis Biotherapeutics Stock Down 1.7 %

The stock has a market capitalization of $1.54 billion, a price-to-earnings ratio of -7.24 and a beta of 1.67. 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 50-day moving average of $14.27 and a two-hundred day moving average of $12.65.

Arcutis Biotherapeutics (NASDAQ:ARQT) last announced its quarterly earnings data on Tuesday, February 25th. The company reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.19. The firm had revenue of $71.36 million for the quarter, compared to the consensus estimate of $60.52 million. Arcutis Biotherapeutics had a negative net margin of 140.97% and a negative return on equity of 119.11%. As a group, sell-side analysts anticipate that Arcutis Biotherapeutics, Inc. will post -1.33 earnings per share for the current year.

Insider Activity

In other Arcutis Biotherapeutics news, Director Howard G. Welgus sold 10,000 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $12.71, for a total value of $127,100.00. Following the completion of the sale, the director now owns 141,944 shares of the company’s stock, valued at $1,804,108.24. The trade was a 6.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Masaru Matsuda sold 8,338 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $12.70, for a total value of $105,892.60. Following the completion of the transaction, the insider now directly owns 178,692 shares in the company, valued at $2,269,388.40. The trade was a 4.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 46,099 shares of company stock worth $631,256 in the last three months. 9.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Summit Investment Advisors Inc. boosted its holdings in Arcutis Biotherapeutics by 8.0% during the fourth quarter. Summit Investment Advisors Inc. now owns 11,245 shares of the company’s stock valued at $157,000 after acquiring an additional 837 shares during the period. China Universal Asset Management Co. Ltd. boosted its stake 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 during the period. GF Fund Management CO. LTD. acquired a new stake in Arcutis Biotherapeutics in the 4th quarter valued at approximately $34,000. LVW Advisors LLC increased its position in Arcutis Biotherapeutics by 21.2% in the 1st quarter. LVW Advisors LLC now owns 14,466 shares of the company’s stock worth $226,000 after buying an additional 2,530 shares during the period. Finally, Venturi Wealth Management LLC bought a new stake in shares of Arcutis Biotherapeutics in the fourth quarter valued at approximately $46,000.

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.