Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) have received an average recommendation of “Moderate Buy” from the nine analysts that are presently covering the company, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $35.5714.

A number of brokerages have recently issued reports on ARQT. Morgan Stanley lifted their price target on Arcutis Biotherapeutics from $34.00 to $38.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. Weiss Ratings upgraded shares of Arcutis Biotherapeutics from a “sell (d-)” rating to a “hold (c-)” rating in a research report on Thursday, August 6th. Wall Street Zen raised shares of Arcutis Biotherapeutics from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 8th. Needham & Company LLC lifted their target price on shares of Arcutis Biotherapeutics from $36.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Finally, Guggenheim boosted their price target on shares of Arcutis Biotherapeutics from $35.00 to $38.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th.

Insider Buying and Selling at Arcutis Biotherapeutics

In related news, Director Sue-Jean Lin sold 4,946 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $24.38, for a total transaction of $120,583.48. Following the transaction, the director directly owned 27,567 shares in the company, valued at $672,083.46. This trade represents a 15.21% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Patrick Burnett sold 8,300 shares of the stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $26.52, for a total value of $220,116.00. Following the sale, the insider directly owned 119,289 shares of the company’s stock, valued at approximately $3,163,544.28. This trade represents a 6.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 31,237 shares of company stock valued at $803,066. 9.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Arcutis Biotherapeutics

A number of large investors have recently made changes to their positions in the business. AQR Capital Management LLC increased its position in Arcutis Biotherapeutics by 21.4% during the 1st quarter. AQR Capital Management LLC now owns 248,196 shares of the company’s stock valued at $3,882,000 after purchasing an additional 43,716 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Arcutis Biotherapeutics by 3.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 71,417 shares of the company’s stock worth $1,118,000 after purchasing an additional 2,063 shares during the period. Creative Planning lifted its position in shares of Arcutis Biotherapeutics by 8.2% in the 2nd quarter. Creative Planning now owns 19,575 shares of the company’s stock worth $274,000 after purchasing an additional 1,477 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Arcutis Biotherapeutics by 1.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 548,789 shares of the company’s stock valued at $7,694,000 after purchasing an additional 5,407 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in shares of Arcutis Biotherapeutics by 4,562.5% during the 2nd quarter. Russell Investments Group Ltd. now owns 11,190 shares of the company’s stock valued at $157,000 after purchasing an additional 10,950 shares in the last quarter.

Arcutis Biotherapeutics Trading Down 1.7%

NASDAQ:ARQT opened at $25.83 on Friday. Arcutis Biotherapeutics has a 1 year low of $15.10 and a 1 year high of $31.77. The stock’s fifty day moving average price is $26.42 and its two-hundred day moving average price is $24.68. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.92 and a quick ratio of 2.67. The company has a market cap of $3.25 billion, a P/E ratio of 123.01 and a beta of 1.49.

Arcutis Biotherapeutics (NASDAQ:ARQT) last issued its earnings results on Wednesday, August 5th. The company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.06 by $0.05. Arcutis Biotherapeutics had a return on equity of 15.05% and a net margin of 6.15%.The business had revenue of $129.86 million during the quarter, compared to the consensus estimate of $118.85 million. As a group, analysts expect that Arcutis Biotherapeutics will post 0.4 EPS for the current year.

About Arcutis Biotherapeutics

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.