Arcutis Biotherapeutics (NASDAQ:ARQT) Trading Up 4.1% – What’s Next?

Shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) shot up 4.1% during mid-day trading on Monday . The stock traded as high as $13.32 and last traded at $13.54. 167,754 shares were traded during trading, a decline of 93% from the average session volume of 2,383,920 shares. The stock had previously closed at $13.01.

Wall Street Analyst Weigh In

Several research firms recently commented on ARQT. 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. Needham & Company LLC restated a “buy” rating and issued a $20.00 target price on shares of Arcutis Biotherapeutics in a research note on Wednesday, April 9th. HC Wainwright reaffirmed a “buy” rating and set a $19.00 price target on shares of Arcutis Biotherapeutics in a research note on Thursday, April 3rd. Mizuho increased their target price on shares of Arcutis Biotherapeutics from $20.00 to $21.00 and gave the stock an “outperform” rating in a report on Wednesday, February 26th. Finally, Guggenheim reiterated a “buy” rating on shares of Arcutis Biotherapeutics in a research note on Thursday, April 3rd. One 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 presently has an average rating of “Moderate Buy” and an average price target of $18.80.

Arcutis Biotherapeutics Trading Up 7.5 %

The stock has a market cap of $1.66 billion, a price-to-earnings ratio of -7.81 and a beta of 1.67. The business’s 50 day simple moving average is $14.33 and its 200 day simple moving average is $12.74. The company has a quick ratio of 2.38, a current ratio of 2.46 and a debt-to-equity ratio of 0.67.

Arcutis Biotherapeutics (NASDAQ:ARQT) last announced its quarterly earnings results on Tuesday, February 25th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating 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, research analysts expect that Arcutis Biotherapeutics, Inc. will post -1.33 EPS for the current fiscal year.

Insider Activity at Arcutis Biotherapeutics

In related news, insider Todd Franklin Watanabe sold 1,500 shares of the firm’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $17.52, for a total transaction of $26,280.00. Following the transaction, the insider now directly owns 927,414 shares of the company’s stock, valued at approximately $16,248,293.28. This trade represents a 0.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Howard G. Welgus sold 10,000 shares of the business’s 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 sale, 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 46,099 shares of company stock worth $631,256. Insiders own 9.50% of the company’s stock.

Hedge Funds Weigh In On Arcutis Biotherapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ARQT. GF Fund Management CO. LTD. bought a new stake in Arcutis Biotherapeutics during the fourth quarter worth about $34,000. Venturi Wealth Management LLC acquired a new stake in shares of Arcutis Biotherapeutics during the 4th quarter worth approximately $46,000. Cibc World Markets Corp acquired a new stake in Arcutis Biotherapeutics in the fourth quarter valued at about $140,000. Summit Investment Advisors Inc. grew its position in Arcutis Biotherapeutics by 8.0% in 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 last quarter. Finally, LVW Advisors LLC bought a new position in shares of Arcutis Biotherapeutics in the fourth quarter worth about $166,000.

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.