Arcutis Biotherapeutics (NASDAQ:ARQT) Price Target Raised to $20.00

Arcutis Biotherapeutics (NASDAQ:ARQT) had its price target increased by Mizuho from $19.00 to $20.00 in a report released on Tuesday,Benzinga reports. They currently have an outperform rating on the stock.

Several other brokerages have also recently issued reports on ARQT. HC Wainwright started coverage on shares of Arcutis Biotherapeutics in a research note on Monday, December 30th. They issued a “buy” rating and a $19.00 price objective on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $18.00 price target on shares of Arcutis Biotherapeutics in a research note on Thursday, November 7th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $16.60.

Arcutis Biotherapeutics Stock Performance

Shares of ARQT opened at $15.27 on Tuesday. 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 stock has a market capitalization of $1.79 billion, a P/E ratio of -8.53 and a beta of 1.30. The company’s fifty day moving average is $12.26 and its two-hundred day moving average is $10.60. Arcutis Biotherapeutics has a 1 year low of $3.11 and a 1 year high of $16.20.

Arcutis Biotherapeutics (NASDAQ:ARQT) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.33) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.42) by $0.09. The company had revenue of $44.76 million for the quarter, compared to analysts’ expectations of $38.05 million. Arcutis Biotherapeutics had a negative net margin of 140.97% and a negative return on equity of 119.11%. On average, sell-side analysts predict that Arcutis Biotherapeutics will post -1.34 earnings per share for the current year.

Insider Transactions at Arcutis Biotherapeutics

In related news, insider Patrick Burnett sold 16,023 shares of the business’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $10.14, for a total value of $162,473.22. Following the sale, the insider now directly owns 128,669 shares in the company, valued at $1,304,703.66. The trade was a 11.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Howard G. Welgus sold 10,000 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $14.67, for a total transaction of $146,700.00. Following the completion of the sale, the director now owns 151,944 shares in the company, valued at $2,229,018.48. This represents a 6.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 78,291 shares of company stock valued at $927,966 in the last ninety days. 9.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Point72 DIFC Ltd purchased a new position in Arcutis Biotherapeutics in the 3rd quarter valued at about $25,000. Algert Global LLC purchased a new position in Arcutis Biotherapeutics in the 2nd quarter valued at about $97,000. Erste Asset Management GmbH purchased a new position in Arcutis Biotherapeutics in the 3rd quarter valued at about $104,000. Victory Capital Management Inc. lifted its holdings in Arcutis Biotherapeutics by 9.9% in the 3rd quarter. Victory Capital Management Inc. now owns 12,843 shares of the company’s stock valued at $119,000 after purchasing an additional 1,155 shares in the last quarter. Finally, Creative Planning purchased a new position in Arcutis Biotherapeutics in the 3rd quarter valued at about $127,000.

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.