Mizuho Boosts Arcutis Biotherapeutics (NASDAQ:ARQT) Price Target to $21.00

Arcutis Biotherapeutics (NASDAQ:ARQT) had its target price increased by analysts at Mizuho from $20.00 to $21.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Mizuho’s price objective indicates a potential upside of 64.06% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on the stock. Needham & Company LLC reissued a “buy” rating and issued a $20.00 price target on shares of Arcutis Biotherapeutics in a report on Wednesday. HC Wainwright reissued a “buy” rating and set a $19.00 target price on shares of Arcutis Biotherapeutics in a research note on Monday, January 13th. Finally, Guggenheim restated a “buy” rating on shares of Arcutis Biotherapeutics in a research report on Monday. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $18.00.

Arcutis Biotherapeutics Stock Performance

Shares of NASDAQ ARQT opened at $12.80 on Wednesday. Arcutis Biotherapeutics has a 12-month low of $6.99 and a 12-month high of $16.20. The company has a current ratio of 2.46, a quick ratio of 2.38 and a debt-to-equity ratio of 0.67. The company has a market cap of $1.50 billion, a PE ratio of -7.15 and a beta of 1.29. The stock has a 50 day simple moving average of $13.56 and a 200-day simple moving average of $11.43.

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, beating analysts’ consensus estimates of ($0.28) by $0.19. Arcutis Biotherapeutics had a negative net margin of 140.97% and a negative return on equity of 119.11%. The business had revenue of $71.36 million for the quarter, compared to analysts’ expectations of $60.52 million. On average, equities research analysts forecast that Arcutis Biotherapeutics will post -1.33 EPS for the current year.

Insider Buying and Selling

In related news, insider Masaru Matsuda sold 8,338 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $12.70, for a total transaction of $105,892.60. Following the completion of the sale, the insider now directly owns 178,692 shares in the company, valued at approximately $2,269,388.40. This trade represents a 4.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Howard G. Welgus sold 10,000 shares of the company’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 owns 161,944 shares in the company, 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. In the last ninety days, insiders sold 55,029 shares of company stock valued at $756,017. Corporate insiders own 9.50% of the company’s stock.

Institutional Inflows and Outflows

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