Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Stock Has Consensus Price Target of $38.00 According to Analysts

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) has earned an average rating of “Moderate Buy” from the ten research firms that are covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $39.12.

A number of equities research analysts have issued reports on ARQT shares. Guggenheim upped their price objective on Arcutis Biotherapeutics from $38.00 to $44.00 and gave the company a “buy” rating in a research report on Monday, October 19th. Weiss Ratings upgraded Arcutis Biotherapeutics from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, October 29th. Cantor Fitzgerald initiated coverage on Arcutis Biotherapeutics in a research report on Thursday, October 15th. They set an “overweight” rating and a $48.00 target price on the stock. Jefferies Financial Group reissued a “buy” rating and set a $39.00 target price on shares of Arcutis Biotherapeutics in a research report on Thursday, October 8th. Finally, Needham & Company LLC increased their price target on Arcutis Biotherapeutics from $36.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, August 6th.

Insider Activity

In other news, insider Masaru Matsuda sold 9,989 shares of the stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $25.03, for a total value of $250,024.67. Following the sale, the insider owned 116,182 shares of the company’s stock, valued at approximately $2,908,035.46. This represents a 7.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Howard G. Welgus sold 4,730 shares of the firm’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $26.18, for a total transaction of $123,831.40. Following the completion of the sale, the director owned 36,475 shares of the company’s stock, valued at $954,915.50. This trade represents a 11.48% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 77,393 shares of company stock valued at $1,971,944 over the last ninety days. 9.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Arcutis Biotherapeutics

Several hedge funds have recently added to or reduced their stakes in the company. Pinnacle Wealth Planning Services Inc. bought a new stake in shares of Arcutis Biotherapeutics during the third quarter worth $36,000. Nykredit A S bought a new position in shares of Arcutis Biotherapeutics in the second quarter worth about $63,000. Integrated Wealth Concepts LLC bought a new position in shares of Arcutis Biotherapeutics in the second quarter worth about $84,000. Sterling Capital Management LLC increased its stake in Arcutis Biotherapeutics by 839.3% in the 3rd quarter. Sterling Capital Management LLC now owns 3,776 shares of the company’s stock worth $100,000 after buying an additional 3,374 shares during the period. Finally, KBC Group NV increased its stake in Arcutis Biotherapeutics by 43.2% in the 1st quarter. KBC Group NV now owns 4,376 shares of the company’s stock worth $103,000 after buying an additional 1,321 shares during the period.

Arcutis Biotherapeutics Stock Up 2.4%

Shares of NASDAQ ARQT opened at $32.00 on Wednesday. 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 has a 12-month low of $19.30 and a 12-month high of $33.30. The firm’s 50-day moving average price is $26.93 and its 200-day moving average price is $25.33. The stock has a market capitalization of $4.02 billion, a price-to-earnings ratio of 148.86 and a beta of 1.66.

Arcutis Biotherapeutics (NASDAQ:ARQT) last released its quarterly 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 company had revenue of $129.86 million during the quarter, compared to analyst estimates of $118.85 million. On average, equities research analysts anticipate that Arcutis Biotherapeutics will post 0.43 EPS for the current fiscal year.

About Arcutis Biotherapeutics

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.