Arcutis Biotherapeutics (NASDAQ:ARQT) Trading 13.1% Higher – What’s Next?

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) traded up 13.1% on Monday . The stock traded as high as $15.01 and last traded at $16.53. 437,984 shares traded hands during trading, a decline of 82% from the average session volume of 2,382,324 shares. The stock had previously closed at $14.62.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. HC Wainwright restated a “buy” rating and set a $19.00 price target on shares of Arcutis Biotherapeutics in a report on Wednesday, February 26th. Guggenheim reaffirmed a “buy” rating on shares of Arcutis Biotherapeutics in a research report on Monday, February 24th. Mizuho upped their price objective on Arcutis Biotherapeutics from $20.00 to $21.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 26th. Needham & Company LLC reaffirmed a “buy” rating and set a $20.00 price objective on shares of Arcutis Biotherapeutics in a research report on Wednesday, February 26th. Finally, The Goldman Sachs Group upped their price objective on Arcutis Biotherapeutics from $13.00 to $15.00 and gave the stock a “neutral” rating in a research report on Thursday, February 27th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $18.80.

Arcutis Biotherapeutics Trading Up 13.8 %

The stock has a market capitalization of $1.97 billion, a price-to-earnings ratio of -9.30 and a beta of 1.48. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.38 and a current ratio of 2.46. The business has a 50-day moving average of $13.52 and a 200-day moving average of $11.85.

Arcutis Biotherapeutics (NASDAQ:ARQT) last posted its quarterly earnings data on Tuesday, February 25th. The company reported ($0.09) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.19. Arcutis Biotherapeutics had a negative return on equity of 119.11% and a negative net margin of 140.97%. The company had revenue of $71.36 million during the quarter, compared to analysts’ expectations of $60.52 million. As a group, research analysts forecast that Arcutis Biotherapeutics, Inc. will post -1.33 EPS for the current year.

Insiders Place Their Bets

In other news, insider Masaru Matsuda sold 8,338 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $12.70, for a total transaction of $105,892.60. Following the completion of the transaction, the insider now directly owns 178,692 shares of the company’s stock, valued at approximately $2,269,388.40. This represents a 4.46 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Todd Franklin Watanabe sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $15.17, for a total value of $227,550.00. Following the completion of the transaction, the insider now directly owns 823,430 shares of the company’s stock, valued at $12,491,433.10. The trade was a 1.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 57,848 shares of company stock valued at $797,648. 9.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Arcutis Biotherapeutics

Hedge funds have recently bought and sold shares of the stock. GF Fund Management CO. LTD. purchased a new position in Arcutis Biotherapeutics during the fourth quarter worth $34,000. Point72 DIFC Ltd purchased a new position in Arcutis Biotherapeutics during the third quarter worth $25,000. Venturi Wealth Management LLC purchased a new position in Arcutis Biotherapeutics during the fourth quarter worth $46,000. Cibc World Markets Corp purchased a new position in Arcutis Biotherapeutics during the fourth quarter worth $140,000. Finally, Erste Asset Management GmbH acquired a new stake in shares of Arcutis Biotherapeutics during the third quarter worth $104,000.

Arcutis Biotherapeutics Company Profile

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.