Arcutis Biotherapeutics (NASDAQ:ARQT) Receives Buy Rating from Guggenheim

Guggenheim reiterated their buy rating on shares of Arcutis Biotherapeutics (NASDAQ:ARQT) in a research report released on Monday,Benzinga reports.

A number of other equities analysts have also recently commented on ARQT. Mizuho lifted their target price on Arcutis Biotherapeutics from $19.00 to $20.00 and gave the stock an “outperform” rating in a report on Tuesday, January 7th. Needham & Company LLC reaffirmed a “buy” rating and set a $18.00 price objective on shares of Arcutis Biotherapeutics in a research note on Thursday, November 7th. Finally, HC Wainwright reissued a “buy” rating and issued a $19.00 target price on shares of Arcutis Biotherapeutics in a research note on Monday, January 13th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $16.60.

Arcutis Biotherapeutics Stock Down 0.2 %

Shares of NASDAQ ARQT opened at $11.59 on Monday. The company has a current ratio of 2.46, a quick ratio of 2.38 and a debt-to-equity ratio of 0.67. Arcutis Biotherapeutics has a 12-month low of $6.05 and a 12-month high of $16.20. The firm’s 50-day moving average price is $13.64 and its 200-day moving average price is $11.16. The stock has a market capitalization of $1.36 billion, a price-to-earnings ratio of -6.47 and a beta of 1.29.

Insider Buying and Selling at Arcutis Biotherapeutics

In other Arcutis Biotherapeutics news, insider Patrick Burnett sold 16,023 shares of the company’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $10.14, for a total value of $162,473.22. Following the completion of the sale, the insider now directly owns 128,669 shares in the company, valued at approximately $1,304,703.66. This represents a 11.07 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Howard G. Welgus sold 10,000 shares of the firm’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $12.51, for a total value of $125,100.00. Following the transaction, the director now owns 161,944 shares in the company, valued at approximately $2,025,919.44. This represents a 5.82 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 72,927 shares of company stock valued at $936,675 in the last quarter. 9.50% of the stock is owned by insiders.

Institutional Trading of Arcutis Biotherapeutics

Hedge funds have recently bought and sold shares of the stock. Point72 DIFC Ltd bought a new stake in shares of Arcutis Biotherapeutics in the 3rd quarter valued at about $25,000. Venturi Wealth Management LLC purchased a new stake in Arcutis Biotherapeutics during the fourth quarter valued at approximately $46,000. Cibc World Markets Corp acquired a new stake in Arcutis Biotherapeutics in the fourth quarter valued at approximately $140,000. Erste Asset Management GmbH purchased a new position in Arcutis Biotherapeutics in the third quarter worth $104,000. Finally, LVW Advisors LLC acquired a new position in shares of Arcutis Biotherapeutics during the fourth quarter worth $166,000.

About Arcutis Biotherapeutics

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.