Arcutis Biotherapeutics (NASDAQ:ARQT) Stock Price Expected to Rise, Mizuho Analyst Says

Arcutis Biotherapeutics (NASDAQ:ARQT) had its target price lifted by equities researchers at Mizuho from $19.00 to $20.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Mizuho’s price objective would indicate a potential upside of 30.98% from the company’s previous close.

ARQT has been the subject of several other reports. 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 target price for the company. Needham & Company LLC reissued a “buy” rating and set a $18.00 price objective 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 assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $16.60.

Arcutis Biotherapeutics Trading Down 3.1 %

Shares of ARQT opened at $15.27 on Tuesday. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.46 and a quick ratio of 2.38. The firm has a 50 day simple moving average of $12.13 and a 200-day simple moving average of $10.56. Arcutis Biotherapeutics has a 1-year low of $3.11 and a 1-year high of $16.20. The stock has a market cap of $1.79 billion, a price-to-earnings ratio of -8.53 and a beta of 1.30.

Arcutis Biotherapeutics (NASDAQ:ARQT) last released its earnings results on Wednesday, November 6th. The company reported ($0.33) EPS for the quarter, topping the consensus estimate of ($0.42) by $0.09. The firm had revenue of $44.76 million during 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%. Equities analysts forecast that Arcutis Biotherapeutics will post -1.34 EPS for the current fiscal year.

Insider Activity

In related news, Director Howard G. Welgus sold 10,000 shares of Arcutis Biotherapeutics stock in a transaction on Friday, November 1st. The shares were sold at an average price of $8.65, for a total transaction of $86,500.00. Following the transaction, the director now owns 171,944 shares in the company, valued at approximately $1,487,315.60. The trade was a 5.50 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Masaru Matsuda sold 5,015 shares of Arcutis Biotherapeutics stock in a transaction on Monday, November 4th. The shares were sold at an average price of $8.68, for a total transaction of $43,530.20. Following the transaction, the insider now owns 178,273 shares in the company, valued at $1,547,409.64. The trade was a 2.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 78,291 shares of company stock valued at $927,966 in the last ninety days. Company insiders own 9.50% of the company’s stock.

Hedge Funds Weigh In On Arcutis Biotherapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the business. Point72 DIFC Ltd acquired a new position in shares of Arcutis Biotherapeutics during the 3rd quarter valued at $25,000. Algert Global LLC acquired a new position in shares of Arcutis Biotherapeutics during the 2nd quarter valued at $97,000. Erste Asset Management GmbH acquired a new position in shares of Arcutis Biotherapeutics during the 3rd quarter valued at $104,000. Victory Capital Management Inc. lifted its holdings in shares of Arcutis Biotherapeutics by 9.9% during the 3rd quarter. Victory Capital Management Inc. now owns 12,843 shares of the company’s stock valued at $119,000 after acquiring an additional 1,155 shares in the last quarter. Finally, Creative Planning acquired a new position in shares of Arcutis Biotherapeutics during the 3rd quarter valued at $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.