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

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) has been given an average rating of “Moderate Buy” by the six research firms that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $18.80.

A number of research firms have weighed in on ARQT. Guggenheim restated a “buy” rating on shares of Arcutis Biotherapeutics in a research note on Monday, February 24th. Jefferies Financial Group raised their target price on Arcutis Biotherapeutics from $16.00 to $19.00 and gave the stock a “buy” rating in a research report on Tuesday, March 11th. Mizuho upped their price target on Arcutis Biotherapeutics from $20.00 to $21.00 and gave the company an “outperform” rating in a report on Wednesday, February 26th. The Goldman Sachs Group raised their price objective on shares of Arcutis Biotherapeutics from $13.00 to $15.00 and gave the stock a “neutral” rating in a report on Thursday, February 27th. Finally, HC Wainwright restated a “buy” rating and set a $19.00 price objective on shares of Arcutis Biotherapeutics in a research report on Wednesday, February 26th.

Arcutis Biotherapeutics Stock Down 0.6 %

ARQT stock opened at $15.64 on Tuesday. The company’s 50 day moving average price is $14.04 and its 200 day moving average price is $12.30. The firm has a market capitalization of $1.86 billion, a price-to-earnings ratio of -8.74 and a beta of 1.48. Arcutis Biotherapeutics has a fifty-two week low of $6.99 and a fifty-two week high of $17.75. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.38 and a current ratio of 2.46.

Arcutis Biotherapeutics (NASDAQ:ARQT) last announced its quarterly earnings data on Tuesday, February 25th. The company reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.19. The business had revenue of $71.36 million for the quarter, compared to analyst estimates of $60.52 million. Arcutis Biotherapeutics had a negative net margin of 140.97% and a negative return on equity of 119.11%. On average, equities research analysts anticipate that Arcutis Biotherapeutics will post -1.33 EPS for the current fiscal year.

Insider Activity

In related news, insider Patrick Burnett sold 12,242 shares of the company’s stock in a transaction on Friday, March 14th. The shares were sold at an average price of $15.04, for a total value of $184,119.68. Following the completion of the sale, the insider now owns 121,936 shares in the company, valued at $1,833,917.44. This represents a 9.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Todd Franklin Watanabe sold 1,500 shares of the firm’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $17.52, for a total transaction of $26,280.00. Following the transaction, the insider now directly owns 927,414 shares in the company, valued at $16,248,293.28. The trade was a 0.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 56,099 shares of company stock valued at $777,956. 9.50% of the stock is currently owned by company insiders.

Institutional Trading of Arcutis Biotherapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. GF Fund Management CO. LTD. acquired a new position in shares of Arcutis Biotherapeutics in the fourth quarter valued at approximately $34,000. Point72 DIFC Ltd acquired a new position in Arcutis Biotherapeutics in the 3rd quarter valued at $25,000. Venturi Wealth Management LLC acquired a new position in Arcutis Biotherapeutics in the 4th quarter valued at $46,000. Cibc World Markets Corp purchased a new position in Arcutis Biotherapeutics during the 4th quarter worth $140,000. Finally, Erste Asset Management GmbH acquired a new stake in shares of Arcutis Biotherapeutics in the 3rd 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.