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

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) has earned a consensus recommendation of “Moderate Buy” from the eight ratings firms that are covering the stock, MarketBeat reports. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $25.38.

A number of research analysts recently issued reports on the company. Needham & Company LLC raised their price target on Arcutis Biotherapeutics from $16.00 to $18.00 and gave the stock a “buy” rating in a research note on Wednesday, May 15th. The Goldman Sachs Group raised their price objective on shares of Arcutis Biotherapeutics from $6.00 to $11.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 28th. Finally, Mizuho upped their target price on shares of Arcutis Biotherapeutics from $17.00 to $18.00 and gave the company a “buy” rating in a report on Wednesday, May 15th.

Insider Activity

In related news, insider Patrick Burnett sold 23,000 shares of the business’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $8.75, for a total value of $201,250.00. Following the sale, the insider now directly owns 209,793 shares in the company, valued at approximately $1,835,688.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Arcutis Biotherapeutics news, insider Patrick Burnett sold 23,000 shares of Arcutis Biotherapeutics stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $8.75, for a total value of $201,250.00. Following the completion of the sale, the insider now owns 209,793 shares in the company, valued at approximately $1,835,688.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Larry Todd Edwards sold 7,640 shares of the firm’s stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $8.98, for a total value of $68,607.20. Following the completion of the transaction, the senior vice president now owns 140,360 shares in the company, valued at $1,260,432.80. The disclosure for this sale can be found here. Insiders sold 32,415 shares of company stock valued at $285,850 in the last three months. 9.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Arcutis Biotherapeutics

A number of institutional investors have recently made changes to their positions in the company. Swiss National Bank boosted its position in Arcutis Biotherapeutics by 9.9% during the 3rd quarter. Swiss National Bank now owns 101,200 shares of the company’s stock worth $537,000 after acquiring an additional 9,100 shares during the period. Citigroup Inc. increased its holdings in Arcutis Biotherapeutics by 15.1% in the third quarter. Citigroup Inc. now owns 176,822 shares of the company’s stock worth $939,000 after buying an additional 23,234 shares during the last quarter. Dark Forest Capital Management LP acquired a new stake in shares of Arcutis Biotherapeutics in the third quarter worth about $394,000. Federated Hermes Inc. boosted its holdings in shares of Arcutis Biotherapeutics by 50.0% during the 3rd quarter. Federated Hermes Inc. now owns 60,000 shares of the company’s stock worth $319,000 after buying an additional 20,000 shares during the period. Finally, Fishman Jay A Ltd. MI lifted its position in shares of Arcutis Biotherapeutics by 13.0% during the 3rd quarter. Fishman Jay A Ltd. MI now owns 87,000 shares of the company’s stock worth $462,000 after purchasing an additional 10,000 shares during the last quarter.

Arcutis Biotherapeutics Price Performance

Shares of NASDAQ ARQT opened at $8.15 on Wednesday. The company has a debt-to-equity ratio of 0.90, a current ratio of 9.89 and a quick ratio of 9.61. Arcutis Biotherapeutics has a 1-year low of $1.76 and a 1-year high of $13.17. The company has a market cap of $943.48 million, a price-to-earnings ratio of -2.78 and a beta of 1.17. The stock’s 50-day moving average is $8.80 and its two-hundred day moving average is $7.38.

Arcutis Biotherapeutics (NASDAQ:ARQT) last released its quarterly earnings data on Tuesday, May 14th. The company reported ($0.32) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.60) by $0.28. The business had revenue of $49.57 million during the quarter. Arcutis Biotherapeutics had a negative net margin of 204.35% and a negative return on equity of 197.28%. During the same period last year, the firm posted ($1.31) earnings per share. Analysts forecast that Arcutis Biotherapeutics will post -1.6 EPS for the current fiscal year.

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.