Arcutis Biotherapeutics (NASDAQ:ARQT) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Arcutis Biotherapeutics (NASDAQ:ARQT) from a buy rating to a strong-buy rating in a report published on Sunday.

A number of other analysts also recently issued reports on the company. Mizuho lifted their price target on Arcutis Biotherapeutics from $32.00 to $37.00 and gave the stock an “outperform” rating in a report on Friday, November 28th. Needham & Company LLC upped their price objective on shares of Arcutis Biotherapeutics from $22.00 to $30.00 and gave the company a “buy” rating in a research note on Tuesday, October 28th. The Goldman Sachs Group lifted their target price on Arcutis Biotherapeutics from $19.00 to $29.00 and gave the stock a “neutral” rating in a research report on Thursday, October 30th. Weiss Ratings reissued a “sell (d-)” rating on shares of Arcutis Biotherapeutics in a report on Monday, December 8th. Finally, Zacks Research upgraded Arcutis Biotherapeutics from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $29.00.

Arcutis Biotherapeutics Stock Down 1.5%

Arcutis Biotherapeutics stock opened at $28.53 on Friday. The firm has a market capitalization of $3.49 billion, a P/E ratio of -79.25 and a beta of 1.69. The company has a current ratio of 3.50, a quick ratio of 3.28 and a debt-to-equity ratio of 0.68. Arcutis Biotherapeutics has a twelve month low of $11.13 and a twelve month high of $31.77. The stock’s fifty day simple moving average is $25.61 and its 200-day simple moving average is $19.08.

Arcutis Biotherapeutics (NASDAQ:ARQT) last released its earnings results on Tuesday, October 28th. The company reported $0.06 EPS for the quarter, topping the consensus estimate of ($0.10) by $0.16. The firm had revenue of $99.22 million during the quarter, compared to analysts’ expectations of $86.69 million. Arcutis Biotherapeutics had a negative return on equity of 29.69% and a negative net margin of 13.94%. As a group, equities analysts expect that Arcutis Biotherapeutics will post -1.33 earnings per share for the current fiscal year.

Insider Transactions at Arcutis Biotherapeutics

In other Arcutis Biotherapeutics news, insider Larry Todd Edwards sold 29,131 shares of the company’s stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $25.16, for a total transaction of $732,935.96. Following the completion of the transaction, the insider owned 150,193 shares in the company, valued at approximately $3,778,855.88. This represents a 16.24% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Todd Watanabe sold 48,945 shares of the firm’s stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $30.36, for a total transaction of $1,485,970.20. Following the completion of the sale, the insider owned 740,537 shares of the company’s stock, valued at approximately $22,482,703.32. The trade was a 6.20% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 327,729 shares of company stock worth $8,305,217 over the last quarter. 9.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Arcutis Biotherapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ARQT. Focus Partners Wealth increased its position in Arcutis Biotherapeutics by 0.8% during the third quarter. Focus Partners Wealth now owns 65,196 shares of the company’s stock worth $1,237,000 after buying an additional 490 shares in the last quarter. Arizona State Retirement System boosted its position in Arcutis Biotherapeutics by 1.8% during the third quarter. Arizona State Retirement System now owns 31,685 shares of the company’s stock worth $597,000 after acquiring an additional 568 shares during the last quarter. AlphaQuest LLC lifted its stake in shares of Arcutis Biotherapeutics by 5.7% during the 3rd quarter. AlphaQuest LLC now owns 12,603 shares of the company’s stock worth $238,000 after purchasing an additional 682 shares during the period. PNC Financial Services Group Inc. grew its position in shares of Arcutis Biotherapeutics by 10.2% in the second quarter. PNC Financial Services Group Inc. now owns 8,828 shares of the company’s stock valued at $124,000 after purchasing an additional 820 shares during the period. Finally, Creative Planning increased its stake in Arcutis Biotherapeutics by 8.2% in the second quarter. Creative Planning now owns 19,575 shares of the company’s stock valued at $274,000 after purchasing an additional 1,477 shares during 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.