Arcutis Biotherapeutics (NASDAQ:ARQT) Earns Buy Rating from HC Wainwright

Arcutis Biotherapeutics (NASDAQ:ARQT)‘s stock had its “buy” rating reissued by equities researchers at HC Wainwright in a report released on Thursday,Benzinga reports. They currently have a $19.00 price target on the stock. HC Wainwright’s price target suggests a potential upside of 28.99% from the stock’s previous close.

Several other brokerages have also recently issued reports on ARQT. Guggenheim restated a “buy” rating on shares of Arcutis Biotherapeutics in a research report on Monday, February 24th. Mizuho raised their target price on Arcutis Biotherapeutics from $20.00 to $21.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 26th. The Goldman Sachs Group lifted their target price on Arcutis Biotherapeutics from $13.00 to $15.00 and gave the stock a “neutral” rating in a report on Thursday, February 27th. Jefferies Financial Group increased their price target on Arcutis Biotherapeutics from $16.00 to $19.00 and gave the company a “buy” rating in a research note on Tuesday, March 11th. Finally, Needham & Company LLC restated a “buy” rating and set a $20.00 price objective on shares of Arcutis Biotherapeutics in a research report on Wednesday, February 26th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $18.80.

Arcutis Biotherapeutics Trading Down 8.8 %

Shares of ARQT stock opened at $14.73 on Thursday. Arcutis Biotherapeutics has a twelve month low of $6.99 and a twelve month high of $17.75. The stock’s fifty day simple moving average is $14.20 and its 200 day simple moving average is $12.41. The company has a quick ratio of 2.38, a current ratio of 2.46 and a debt-to-equity ratio of 0.67. The firm has a market capitalization of $1.75 billion, a P/E ratio of -8.23 and a beta of 1.67.

Arcutis Biotherapeutics (NASDAQ:ARQT) last released its quarterly earnings results on Tuesday, February 25th. The company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.28) by $0.19. The company had revenue of $71.36 million for the quarter, compared to analysts’ expectations 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, sell-side analysts predict that Arcutis Biotherapeutics will post -1.33 EPS for the current fiscal year.

Insider Buying and Selling at Arcutis Biotherapeutics

In other Arcutis Biotherapeutics news, Director Howard G. Welgus sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $12.71, for a total value of $127,100.00. Following the transaction, the director now directly owns 141,944 shares of the company’s stock, valued at approximately $1,804,108.24. The trade was a 6.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Todd Franklin Watanabe sold 1,500 shares of the stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $17.52, for a total value of $26,280.00. Following the transaction, the insider now owns 927,414 shares in the company, valued at $16,248,293.28. The trade was a 0.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 46,099 shares of company stock valued at $631,256. 9.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Arcutis Biotherapeutics

A number of large investors have recently bought and sold shares of ARQT. Point72 DIFC Ltd bought a new position in shares of Arcutis Biotherapeutics during the 3rd quarter worth about $25,000. GF Fund Management CO. LTD. acquired a new position in Arcutis Biotherapeutics during the 4th quarter worth approximately $34,000. Venturi Wealth Management LLC bought a new position in Arcutis Biotherapeutics in the fourth quarter worth approximately $46,000. Erste Asset Management GmbH bought a new position in Arcutis Biotherapeutics in the third quarter worth approximately $104,000. Finally, Cibc World Markets Corp acquired a new stake in Arcutis Biotherapeutics in the fourth quarter valued at approximately $140,000.

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.