Guggenheim Reiterates Buy Rating for Arcutis Biotherapeutics (NASDAQ:ARQT)

Arcutis Biotherapeutics (NASDAQ:ARQT)‘s stock had its “buy” rating restated by research analysts at Guggenheim in a research report issued on Thursday,Benzinga reports.

Several other research firms have also commented on ARQT. Mizuho increased their price target on shares of Arcutis Biotherapeutics from $20.00 to $21.00 and gave the company an “outperform” rating in a research report on Wednesday, February 26th. Needham & Company LLC reissued a “buy” rating and set a $20.00 target price on shares of Arcutis Biotherapeutics in a research report on Thursday. Jefferies Financial Group raised their target price on shares of Arcutis Biotherapeutics from $16.00 to $19.00 and gave the company a “buy” rating in a research note on Tuesday, March 11th. HC Wainwright reaffirmed a “buy” rating and issued a $19.00 price target on shares of Arcutis Biotherapeutics in a report on Thursday. Finally, The Goldman Sachs Group increased their price objective on Arcutis Biotherapeutics from $13.00 to $15.00 and gave the company a “neutral” rating in a report on Thursday, February 27th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $18.80.

Arcutis Biotherapeutics Stock Down 8.8 %

Arcutis Biotherapeutics stock opened at $14.73 on Thursday. 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 cap of $1.75 billion, a P/E ratio of -8.23 and a beta of 1.67. The business has a fifty day moving average of $14.20 and a two-hundred day moving average of $12.41. Arcutis Biotherapeutics has a twelve month low of $6.99 and a twelve month high of $17.75.

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

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Summit Investment Advisors Inc. boosted its position in 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 last quarter. China Universal Asset Management Co. Ltd. raised its position in Arcutis Biotherapeutics by 10.4% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 24,818 shares of the company’s stock worth $346,000 after buying an additional 2,336 shares during the last quarter. GF Fund Management CO. LTD. acquired a new stake in Arcutis Biotherapeutics during the 4th quarter valued at approximately $34,000. Point72 DIFC Ltd acquired a new stake in Arcutis Biotherapeutics during the 3rd quarter valued at approximately $25,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Arcutis Biotherapeutics by 1.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 276,691 shares of the company’s stock valued at $2,573,000 after acquiring an additional 2,912 shares during the last quarter.

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.