Yousif Capital Management LLC Makes New Investment in Arcutis Biotherapeutics, Inc. $ARQT

Yousif Capital Management LLC acquired a new position in shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 30,489 shares of the company’s stock, valued at approximately $806,000.

A number of other hedge funds have also modified their holdings of the stock. AMI Asset Management Corp raised its position in shares of Arcutis Biotherapeutics by 11.8% during the third quarter. AMI Asset Management Corp now owns 41,505 shares of the company’s stock worth $1,097,000 after purchasing an additional 4,384 shares during the period. State of Alaska Department of Revenue acquired a new position in shares of Arcutis Biotherapeutics in the 3rd quarter valued at $653,000. Toth Financial Advisory Corp purchased a new position in Arcutis Biotherapeutics in the 3rd quarter worth about $285,000. Tidal Investments LLC purchased a new position in Arcutis Biotherapeutics in the 2nd quarter worth about $606,000. Finally, Integrated Wealth Concepts LLC purchased a new position in Arcutis Biotherapeutics in the 2nd quarter worth about $84,000.

Arcutis Biotherapeutics Price Performance

ARQT stock opened at $32.07 on Monday. Arcutis Biotherapeutics, Inc. has a 1 year low of $19.30 and a 1 year high of $33.30. The company has a fifty day simple moving average of $26.66 and a 200 day simple moving average of $25.28. The firm has a market cap of $4.03 billion, a PE ratio of 152.72 and a beta of 1.66. The company has a current ratio of 2.92, a quick ratio of 2.67 and a debt-to-equity ratio of 0.46.

Arcutis Biotherapeutics (NASDAQ:ARQT) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.05. The business had revenue of $129.86 million for the quarter, compared to analyst estimates of $118.85 million. Arcutis Biotherapeutics had a return on equity of 15.05% and a net margin of 6.15%. Sell-side analysts anticipate that Arcutis Biotherapeutics, Inc. will post 0.43 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Howard G. Welgus sold 4,728 shares of the business’s stock in a transaction on Thursday, October 15th. The shares were sold at an average price of $26.93, for a total value of $127,325.04. Following the completion of the sale, the director directly owned 35,207 shares in the company, valued at approximately $948,124.51. The trade was a 11.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Terrie Curran sold 38,200 shares of the company’s stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $25.03, for a total transaction of $956,146.00. Following the sale, the director directly owned 23,526 shares of the company’s stock, valued at approximately $588,855.78. This represents a 61.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 77,393 shares of company stock valued at $1,971,944 in the last quarter. Company insiders own 9.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on ARQT shares. Wall Street Zen downgraded Arcutis Biotherapeutics from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 10th. Weiss Ratings upgraded shares of Arcutis Biotherapeutics from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday. Guggenheim raised their target price on shares of Arcutis Biotherapeutics from $38.00 to $44.00 and gave the stock a “buy” rating in a report on Monday, October 19th. Cantor Fitzgerald initiated coverage on shares of Arcutis Biotherapeutics in a research report on Thursday, October 15th. They issued an “overweight” rating and a $48.00 target price on the stock. Finally, Morgan Stanley boosted their price target on shares of Arcutis Biotherapeutics from $34.00 to $38.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. Eight equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $39.12.

Arcutis Biotherapeutics Profile

Arcutis Biotherapeutics, Inc is a commercial-stage biopharmaceutical company focused on developing and delivering treatments for dermatologic conditions. The company’s portfolio is centered on therapies designed to address inflammatory skin diseases, with an emphasis on nonsteroidal topical medicines that may help patients manage chronic conditions.

Arcutis’s lead product is ZORYVE (roflumilast), a topical phosphodiesterase-4 inhibitor. ZORYVE has received U.S. Food and Drug Administration approvals for multiple dermatological uses, including plaque psoriasis, seborrheic dermatitis and atopic dermatitis, in different cream and foam formulations.