Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Receives $16.60 Consensus PT from Brokerages

Shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) have been assigned a consensus rating of “Moderate Buy” from the six ratings firms that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $16.60.

Several equities analysts have recently issued reports on the company. Guggenheim reissued a “buy” rating on shares of Arcutis Biotherapeutics in a report on Monday. HC Wainwright restated a “buy” rating and set a $19.00 price target on shares of Arcutis Biotherapeutics in a research note on Monday, January 13th. Needham & Company LLC reaffirmed a “buy” rating and set a $18.00 price objective on shares of Arcutis Biotherapeutics in a report on Thursday, November 7th. Finally, Mizuho raised their price objective on shares of Arcutis Biotherapeutics from $19.00 to $20.00 and gave the company an “outperform” rating in a research report on Tuesday, January 7th.

Insider Activity at Arcutis Biotherapeutics

In other Arcutis Biotherapeutics news, insider Patrick Burnett sold 16,023 shares of the company’s stock in a transaction dated 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 transaction, the insider now owns 128,669 shares of the company’s stock, valued at $1,304,703.66. This represents a 11.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Masaru Matsuda sold 8,338 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $12.70, for a total value of $105,892.60. Following the completion of the sale, the insider now owns 178,692 shares in the company, valued at $2,269,388.40. This trade represents a 4.46 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 72,927 shares of company stock valued at $936,675. 9.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Arcutis Biotherapeutics

Several hedge funds have recently made changes to their positions in the stock. Point72 DIFC Ltd purchased a new position in shares of Arcutis Biotherapeutics during the 3rd quarter worth approximately $25,000. Venturi Wealth Management LLC purchased a new position in shares of Arcutis Biotherapeutics during the 4th quarter worth approximately $46,000. Erste Asset Management GmbH purchased a new stake in shares of Arcutis Biotherapeutics in the 3rd quarter worth approximately $104,000. Victory Capital Management Inc. grew its stake in shares of Arcutis Biotherapeutics by 9.9% in the 3rd quarter. Victory Capital Management Inc. now owns 12,843 shares of the company’s stock worth $119,000 after buying an additional 1,155 shares during the last quarter. Finally, Creative Planning purchased a new stake in shares of Arcutis Biotherapeutics in the 3rd quarter worth approximately $127,000.

Arcutis Biotherapeutics Price Performance

Shares of ARQT opened at $13.21 on Monday. The firm has a market capitalization of $1.55 billion, a PE ratio of -7.38 and a beta of 1.29. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.46 and a quick ratio of 2.38. Arcutis Biotherapeutics has a fifty-two week low of $6.05 and a fifty-two week high of $16.20. The company’s 50-day moving average is $13.63 and its 200-day moving average is $11.18.

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.