Arcutis Biotherapeutics (NASDAQ:ARQT) Price Target Raised to $19.00 at Jefferies Financial Group

Arcutis Biotherapeutics (NASDAQ:ARQT) had its target price boosted by Jefferies Financial Group from $16.00 to $19.00 in a research report report published on Tuesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

ARQT has been the subject of a number of other research reports. Mizuho boosted their price target on Arcutis Biotherapeutics from $20.00 to $21.00 and gave the stock an “outperform” rating in a report on Wednesday, February 26th. HC Wainwright reissued a “buy” rating and set a $19.00 price target on shares of Arcutis Biotherapeutics in a report on Wednesday, February 26th. Guggenheim reissued a “buy” rating on shares of Arcutis Biotherapeutics in a report on Monday, February 24th. Needham & Company LLC reissued a “buy” rating and set a $20.00 price target on shares of Arcutis Biotherapeutics in a report on Wednesday, February 26th. Finally, The Goldman Sachs Group boosted their price target on Arcutis Biotherapeutics from $13.00 to $15.00 and gave the stock a “neutral” rating in a report on Thursday, February 27th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Arcutis Biotherapeutics has a consensus rating of “Moderate Buy” and an average target price of $18.80.

Arcutis Biotherapeutics Stock Performance

NASDAQ:ARQT opened at $15.49 on Tuesday. The stock has a fifty day moving average price of $13.45 and a 200-day moving average price of $11.72. The company has a market cap of $1.84 billion, a price-to-earnings ratio of -8.65 and a beta of 1.48. 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.

Arcutis Biotherapeutics (NASDAQ:ARQT) last released its earnings results on Tuesday, February 25th. The company reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.19. The firm had revenue of $71.36 million during the quarter, compared to the consensus estimate of $60.52 million. Arcutis Biotherapeutics had a negative return on equity of 119.11% and a negative net margin of 140.97%. As a group, equities analysts anticipate that Arcutis Biotherapeutics will post -1.33 EPS for the current fiscal year.

Insiders Place Their Bets

In other Arcutis Biotherapeutics news, insider Patrick Burnett sold 2,819 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $13.03, for a total value of $36,731.57. Following the completion of the transaction, the insider now owns 167,043 shares of the company’s stock, valued at $2,176,570.29. This represents a 1.66 % 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 stock was sold at an average price of $12.70, for a total value of $105,892.60. Following the completion of the transaction, the insider now directly owns 178,692 shares of the company’s stock, valued at approximately $2,269,388.40. The trade was a 4.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 57,848 shares of company stock valued at $797,648 in the last 90 days. Corporate insiders own 9.50% of the company’s stock.

Institutional Investors Weigh In On Arcutis Biotherapeutics

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Summit Investment Advisors Inc. increased its stake in shares of Arcutis Biotherapeutics by 8.0% in the fourth quarter. Summit Investment Advisors Inc. now owns 11,245 shares of the company’s stock valued at $157,000 after buying an additional 837 shares during the period. Victory Capital Management Inc. increased its stake in shares of Arcutis Biotherapeutics by 9.9% in the third quarter. Victory Capital Management Inc. now owns 12,843 shares of the company’s stock valued at $119,000 after buying an additional 1,155 shares during the period. China Universal Asset Management Co. Ltd. increased its stake in shares of Arcutis Biotherapeutics by 10.4% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 24,818 shares of the company’s stock valued at $346,000 after buying an additional 2,336 shares during the period. GF Fund Management CO. LTD. acquired a new stake in shares of Arcutis Biotherapeutics in the fourth quarter valued at about $34,000. Finally, Point72 DIFC Ltd acquired a new stake in shares of Arcutis Biotherapeutics in the third quarter valued at about $25,000.

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.