Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Given Average Rating of “Moderate Buy” by Analysts

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) has been assigned an average recommendation of “Moderate Buy” from the six analysts that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $18.80.

A number of analysts have recently issued reports on ARQT shares. Guggenheim reiterated a “buy” rating on shares of Arcutis Biotherapeutics in a research report on Thursday, April 3rd. Needham & Company LLC reissued a “buy” rating and issued a $20.00 price target on shares of Arcutis Biotherapeutics in a research note on Wednesday, April 9th. HC Wainwright restated a “buy” rating and set a $19.00 price objective on shares of Arcutis Biotherapeutics in a research report on Thursday, April 3rd. Mizuho upped their target price on shares of Arcutis Biotherapeutics from $20.00 to $21.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 26th. Finally, The Goldman Sachs Group raised their price target on Arcutis Biotherapeutics from $13.00 to $15.00 and gave the company a “neutral” rating in a research report on Thursday, February 27th.

Arcutis Biotherapeutics Price Performance

Shares of NASDAQ:ARQT opened at $14.61 on Friday. The company has a 50 day moving average of $14.48 and a 200 day moving average of $12.85. The company has a current ratio of 2.46, a quick ratio of 2.38 and a debt-to-equity ratio of 0.67. The stock has a market cap of $1.73 billion, a P/E ratio of -8.16 and a beta of 1.67. Arcutis Biotherapeutics has a 12 month low of $6.99 and a 12 month high of $17.75.

Arcutis Biotherapeutics (NASDAQ:ARQT) last released its quarterly 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. 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%. As a group, sell-side analysts forecast that Arcutis Biotherapeutics will post -1.33 EPS for the current fiscal year.

Insider Buying and Selling at Arcutis Biotherapeutics

In other Arcutis Biotherapeutics news, Director Howard G. Welgus sold 10,000 shares of the firm’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $12.71, for a total value of $127,100.00. Following the sale, the director now owns 141,944 shares of the company’s stock, valued at $1,804,108.24. This trade represents a 6.58 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Todd Franklin Watanabe sold 1,500 shares of the company’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 disclosure for this sale can be found here. Insiders sold a total of 46,099 shares of company stock worth $631,256 over the last three months. Company insiders own 9.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Barclays PLC lifted its stake in Arcutis Biotherapeutics by 45.8% in the third quarter. Barclays PLC now owns 253,392 shares of the company’s stock worth $2,356,000 after acquiring an additional 79,579 shares during the period. Geode Capital Management LLC lifted its position in shares of Arcutis Biotherapeutics by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 2,470,138 shares of the company’s stock worth $22,977,000 after purchasing an additional 48,868 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Arcutis Biotherapeutics by 0.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,296,911 shares of the company’s stock valued at $12,061,000 after purchasing an additional 11,833 shares in the last quarter. LVW Advisors LLC purchased a new position in shares of Arcutis Biotherapeutics during the fourth quarter valued at about $166,000. Finally, SG Americas Securities LLC raised its stake in Arcutis Biotherapeutics by 25.4% in the fourth quarter. SG Americas Securities LLC now owns 48,087 shares of the company’s stock worth $670,000 after buying an additional 9,754 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.