Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Given Average Rating of “Moderate Buy” by Analysts

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) has received a consensus rating of “Moderate Buy” from the seven analysts that are presently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $13.33.

A number of equities research analysts have weighed in on ARQT shares. Mizuho upped their target price on Arcutis Biotherapeutics from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Wednesday, May 15th. Jefferies Financial Group assumed coverage on Arcutis Biotherapeutics in a research note on Wednesday, August 28th. They set a “buy” rating and a $15.00 target price for the company. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $18.00 price target on shares of Arcutis Biotherapeutics in a research report on Thursday, August 15th.

Insider Activity

In related news, insider Masaru Matsuda sold 5,220 shares of the firm’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $9.02, for a total value of $47,084.40. Following the transaction, the insider now directly owns 183,288 shares in the company, valued at approximately $1,653,257.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Masaru Matsuda sold 5,220 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $9.02, for a total transaction of $47,084.40. Following the completion of the transaction, the insider now owns 183,288 shares of the company’s stock, valued at approximately $1,653,257.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Howard G. Welgus sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $9.87, for a total value of $98,700.00. Following the completion of the sale, the director now directly owns 176,953 shares in the company, valued at approximately $1,746,526.11. The disclosure for this sale can be found here. Insiders have sold a total of 26,948 shares of company stock valued at $253,210 over the last 90 days. 9.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Arcutis Biotherapeutics

Institutional investors and hedge funds have recently bought and sold shares of the stock. Jennison Associates LLC grew its position in Arcutis Biotherapeutics by 34.3% in the 1st quarter. Jennison Associates LLC now owns 12,176,315 shares of the company’s stock worth $120,667,000 after purchasing an additional 3,110,233 shares during the last quarter. Rubric Capital Management LP grew its position in Arcutis Biotherapeutics by 30.7% during the second quarter. Rubric Capital Management LP now owns 9,816,672 shares of the company’s stock worth $91,295,000 after buying an additional 2,306,672 shares in the last quarter. Frazier Life Sciences Management L.P. grew its position in Arcutis Biotherapeutics by 0.9% during the fourth quarter. Frazier Life Sciences Management L.P. now owns 8,764,232 shares of the company’s stock worth $28,308,000 after buying an additional 80,000 shares in the last quarter. Vanguard Group Inc. increased its stake in Arcutis Biotherapeutics by 5.5% during the first quarter. Vanguard Group Inc. now owns 5,166,417 shares of the company’s stock valued at $51,199,000 after acquiring an additional 269,904 shares during the period. Finally, Franklin Resources Inc. raised its holdings in Arcutis Biotherapeutics by 260.2% in the 4th quarter. Franklin Resources Inc. now owns 4,655,544 shares of the company’s stock valued at $15,037,000 after acquiring an additional 3,363,191 shares in the last quarter.

Arcutis Biotherapeutics Price Performance

Shares of ARQT opened at $10.88 on Monday. Arcutis Biotherapeutics has a one year low of $1.76 and a one year high of $13.17. The stock’s fifty day moving average is $9.69 and its 200-day moving average is $9.49. The company has a debt-to-equity ratio of 1.09, a quick ratio of 8.19 and a current ratio of 8.46. The firm has a market capitalization of $1.27 billion, a price-to-earnings ratio of -3.71 and a beta of 1.18.

Arcutis Biotherapeutics (NASDAQ:ARQT) last released its earnings results on Wednesday, August 14th. The company reported ($0.42) EPS for the quarter, beating the consensus estimate of ($0.48) by $0.06. The firm had revenue of $30.86 million for the quarter, compared to analysts’ expectations of $31.00 million. Arcutis Biotherapeutics had a negative net margin of 150.51% and a negative return on equity of 145.41%. During the same quarter last year, the company earned ($1.16) EPS. Equities analysts anticipate that Arcutis Biotherapeutics will post -1.56 EPS for the current 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.