Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Receives $34.00 Average Price Target from Analysts

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) has received an average rating of “Moderate Buy” from the eight brokerages that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $34.00.

Several equities research analysts have weighed in on the company. Needham & Company LLC reissued a “buy” rating and issued a $36.00 price target on shares of Arcutis Biotherapeutics in a report on Thursday, May 7th. TD Cowen lifted their price objective on Arcutis Biotherapeutics from $30.00 to $35.00 and gave the company a “buy” rating in a research note on Thursday, February 26th. Mizuho lowered their target price on Arcutis Biotherapeutics from $37.00 to $35.00 and set an “outperform” rating on the stock in a research note on Monday, March 2nd. HC Wainwright raised their price objective on shares of Arcutis Biotherapeutics from $30.00 to $34.00 and gave the stock a “buy” rating in a research note on Thursday, February 26th. Finally, Wall Street Zen cut shares of Arcutis Biotherapeutics from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th.

Arcutis Biotherapeutics Trading Down 3.3%

Shares of NASDAQ ARQT opened at $21.23 on Friday. Arcutis Biotherapeutics has a 1-year low of $12.72 and a 1-year high of $31.77. The stock has a market capitalization of $2.66 billion, a P/E ratio of -707.43 and a beta of 1.51. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.68 and a quick ratio of 2.46. The business has a fifty day moving average price of $22.47 and a 200 day moving average price of $25.45.

Arcutis Biotherapeutics (NASDAQ:ARQT) last issued its quarterly earnings data on Wednesday, May 6th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.07). Arcutis Biotherapeutics had a negative return on equity of 1.41% and a negative net margin of 0.57%.The firm had revenue of $105.40 million during the quarter, compared to analysts’ expectations of $103.68 million. Equities research analysts expect that Arcutis Biotherapeutics will post 0.15 EPS for the current fiscal year.

Insider Activity

In related news, Director Howard G. Welgus sold 7,144 shares of Arcutis Biotherapeutics stock in a transaction on Friday, May 1st. The shares were sold at an average price of $22.99, for a total value of $164,240.56. Following the sale, the director owned 32,600 shares of the company’s stock, valued at approximately $749,474. This trade represents a 17.98% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Latha Vairavan sold 1,341 shares of Arcutis Biotherapeutics stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $23.61, for a total transaction of $31,661.01. Following the completion of the sale, the chief financial officer owned 86,413 shares in the company, valued at approximately $2,040,210.93. This trade represents a 1.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 31,254 shares of company stock valued at $732,019. Insiders own 9.40% of the company’s stock.

Institutional Trading of Arcutis Biotherapeutics

A number of institutional investors have recently made changes to their positions in the company. Johnson Investment Counsel Inc. acquired a new stake in Arcutis Biotherapeutics during the 3rd quarter worth $30,000. SBI Securities Co. Ltd. boosted its position in shares of Arcutis Biotherapeutics by 325.4% during the 4th quarter. SBI Securities Co. Ltd. now owns 1,089 shares of the company’s stock valued at $32,000 after acquiring an additional 833 shares during the last quarter. Global Retirement Partners LLC purchased a new stake in shares of Arcutis Biotherapeutics in the fourth quarter valued at about $35,000. EverSource Wealth Advisors LLC grew its holdings in shares of Arcutis Biotherapeutics by 124.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,261 shares of the company’s stock valued at $37,000 after purchasing an additional 698 shares during the period. Finally, NewEdge Advisors LLC grew its stake in shares of Arcutis Biotherapeutics by 209.0% in the 4th quarter. NewEdge Advisors LLC now owns 1,545 shares of the company’s stock valued at $45,000 after buying an additional 1,045 shares during the period.

Arcutis Biotherapeutics Company Profile

Arcutis Biotherapeutics is a clinical-stage biopharmaceutical company focused on developing and commercializing innovative therapies for immuno-inflammatory skin diseases. The company’s research and development efforts center on targeted treatments that address the underlying biology of conditions such as plaque psoriasis, atopic dermatitis, seborrheic dermatitis and vitiligo. Arcutis employs a precision-medicine approach to deliver topical therapies designed to improve efficacy and tolerability compared with existing treatment options.

In August 2022, Arcutis received U.S.