Arcutis Biotherapeutics’ (ARQT) “Buy” Rating Reaffirmed at Guggenheim

Guggenheim reissued their buy rating on shares of Arcutis Biotherapeutics (NASDAQ:ARQT) in a research report report published on Monday,Benzinga reports.

A number of other brokerages have also recently issued reports on ARQT. Needham & Company LLC reaffirmed a “buy” rating and issued a $18.00 target price on shares of Arcutis Biotherapeutics in a report on Thursday, November 7th. Mizuho raised their price objective on Arcutis Biotherapeutics from $19.00 to $20.00 and gave the company an “outperform” rating in a research note on Tuesday, January 7th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $19.00 price objective on shares of Arcutis Biotherapeutics in a report on Monday, January 13th. 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 MarketBeat, Arcutis Biotherapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $16.60.

Arcutis Biotherapeutics Stock Performance

NASDAQ:ARQT opened at $12.39 on Monday. The firm’s fifty day simple moving average is $13.64 and its 200-day simple moving average is $11.39. 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 stock has a market cap of $1.45 billion, a PE ratio of -6.92 and a beta of 1.29. Arcutis Biotherapeutics has a fifty-two week low of $6.99 and a fifty-two week high of $16.20.

Insider Buying and Selling

In other Arcutis Biotherapeutics news, insider Masaru Matsuda sold 8,338 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $12.70, for a total transaction of $105,892.60. Following the sale, the insider now directly owns 178,692 shares of the company’s stock, valued at $2,269,388.40. This trade represents a 4.46 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Howard G. Welgus sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $12.51, for a total transaction of $125,100.00. Following the completion of the transaction, the director now directly owns 161,944 shares of the company’s stock, valued at approximately $2,025,919.44. This represents a 5.82 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 55,029 shares of company stock worth $756,017 in the last ninety days. Insiders own 9.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of ARQT. Point72 DIFC Ltd acquired a new stake in shares of Arcutis Biotherapeutics during the third quarter worth $25,000. GF Fund Management CO. LTD. purchased a new position in Arcutis Biotherapeutics during the fourth quarter worth about $34,000. Venturi Wealth Management LLC acquired a new stake in Arcutis Biotherapeutics in the 4th quarter worth about $46,000. Erste Asset Management GmbH purchased a new stake in Arcutis Biotherapeutics in the 3rd quarter valued at about $104,000. Finally, Victory Capital Management Inc. increased its stake in shares of Arcutis Biotherapeutics by 9.9% during the 3rd quarter. Victory Capital Management Inc. now owns 12,843 shares of the company’s stock valued at $119,000 after acquiring an additional 1,155 shares during the last quarter.

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.