Brokerages Set Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Target Price at $18.00

Shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) have earned a consensus recommendation of “Moderate Buy” from the six analysts that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $18.00.

ARQT has been the topic of several recent research reports. Needham & Company LLC restated a “buy” rating and set a $20.00 target price on shares of Arcutis Biotherapeutics in a research report on Wednesday, February 26th. Mizuho upped their price target on shares of Arcutis Biotherapeutics from $20.00 to $21.00 and gave the company an “outperform” rating in a report on Wednesday, February 26th. HC Wainwright restated a “buy” rating and issued a $19.00 target price on shares of Arcutis Biotherapeutics in a research note on Wednesday, February 26th. Guggenheim reaffirmed a “buy” rating on shares of Arcutis Biotherapeutics in a research report on Monday, February 24th. Finally, The Goldman Sachs Group upped their price target on shares of Arcutis Biotherapeutics from $13.00 to $15.00 and gave the stock a “neutral” rating in a research report on Thursday, February 27th.

Insider Activity

In other news, insider Todd Franklin Watanabe sold 15,000 shares of the firm’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $15.17, for a total value of $227,550.00. Following the transaction, the insider now directly owns 823,430 shares of the company’s stock, valued at approximately $12,491,433.10. This trade represents a 1.79 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Howard G. Welgus sold 10,000 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $14.67, for a total transaction of $146,700.00. Following the completion of the transaction, the director now directly owns 151,944 shares in the company, valued at approximately $2,229,018.48. This represents a 6.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 57,848 shares of company stock worth $797,648 over the last 90 days. 9.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Arcutis Biotherapeutics

A number of institutional investors have recently bought and sold shares of ARQT. GF Fund Management CO. LTD. acquired a new stake in shares of Arcutis Biotherapeutics during the fourth quarter valued at about $34,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Arcutis Biotherapeutics by 1.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 280,100 shares of the company’s stock worth $3,902,000 after acquiring an additional 3,409 shares in the last quarter. Voloridge Investment Management LLC lifted its position in shares of Arcutis Biotherapeutics by 126.5% during the 4th quarter. Voloridge Investment Management LLC now owns 290,938 shares of the company’s stock worth $4,053,000 after buying an additional 162,495 shares during the last quarter. Squarepoint Ops LLC lifted its position in shares of Arcutis Biotherapeutics by 67.2% during the 4th quarter. Squarepoint Ops LLC now owns 121,392 shares of the company’s stock worth $1,691,000 after buying an additional 48,769 shares during the last quarter. Finally, Suvretta Capital Management LLC lifted its position in shares of Arcutis Biotherapeutics by 6.3% during the 4th quarter. Suvretta Capital Management LLC now owns 11,399,138 shares of the company’s stock worth $158,790,000 after buying an additional 677,627 shares during the last quarter.

Arcutis Biotherapeutics Stock Up 1.5 %

ARQT opened at $14.72 on Friday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.38 and a current ratio of 2.46. Arcutis Biotherapeutics has a fifty-two week low of $6.99 and a fifty-two week high of $16.20. The firm’s fifty day moving average is $13.45 and its 200 day moving average is $11.68. The stock has a market cap of $1.75 billion, a price-to-earnings ratio of -8.22 and a beta of 1.48.

Arcutis Biotherapeutics (NASDAQ:ARQT) last announced its quarterly earnings results on Tuesday, February 25th. The company reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.28) by $0.19. The business had revenue of $71.36 million for the quarter, compared to analysts’ expectations of $60.52 million. Arcutis Biotherapeutics had a negative net margin of 140.97% and a negative return on equity of 119.11%. On average, sell-side analysts forecast that Arcutis Biotherapeutics will post -1.33 earnings per share for the current fiscal year.

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.