Arcutis Biotherapeutics’ (ARQT) Buy Rating Reiterated at Needham & Company LLC

Arcutis Biotherapeutics (NASDAQ:ARQT)‘s stock had its “buy” rating reiterated by stock analysts at Needham & Company LLC in a note issued to investors on Thursday, Benzinga reports. They currently have a $18.00 price target on the stock. Needham & Company LLC’s target price points to a potential upside of 86.34% from the company’s current price.

Separately, Jefferies Financial Group assumed coverage on shares of Arcutis Biotherapeutics in a research note on Wednesday, August 28th. They set a “buy” rating and a $15.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $14.40.

Arcutis Biotherapeutics Stock Performance

Shares of NASDAQ ARQT opened at $9.66 on Thursday. The stock has a market capitalization of $1.13 billion, a P/E ratio of -4.41 and a beta of 1.18. The firm’s 50-day moving average price is $9.68 and its two-hundred day moving average price is $9.29. Arcutis Biotherapeutics has a 52-week low of $1.76 and a 52-week high of $13.17. The company has a quick ratio of 8.19, a current ratio of 8.46 and a debt-to-equity ratio of 1.09.

Arcutis Biotherapeutics (NASDAQ:ARQT) last released its quarterly earnings data on Wednesday, August 14th. The company reported ($0.42) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.06. Arcutis Biotherapeutics had a negative return on equity of 145.41% and a negative net margin of 150.51%. The business had revenue of $30.86 million during the quarter, compared to analyst estimates of $31.00 million. During the same quarter in the previous year, the firm posted ($1.16) EPS. As a group, sell-side analysts forecast that Arcutis Biotherapeutics will post -1.6 earnings per share for the current year.

Insider Transactions at Arcutis Biotherapeutics

In related news, CFO David Joseph Topper sold 11,626 shares of the firm’s stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $9.48, for a total transaction of $110,214.48. Following the completion of the transaction, the chief financial officer now owns 158,374 shares of the company’s stock, valued at $1,501,385.52. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Arcutis Biotherapeutics news, CFO David Joseph Topper sold 11,626 shares of the company’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $9.48, for a total value of $110,214.48. Following the completion of the sale, the chief financial officer now directly owns 158,374 shares of the company’s stock, valued at approximately $1,501,385.52. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Howard G. Welgus sold 10,000 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $8.65, for a total transaction of $86,500.00. Following the transaction, the director now owns 171,944 shares of the company’s stock, valued at approximately $1,487,315.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 52,094 shares of company stock valued at $492,157. Corporate insiders own 9.50% of the company’s stock.

Institutional Investors Weigh In On Arcutis Biotherapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the stock. CWM LLC increased its stake in Arcutis Biotherapeutics by 6,740.0% in the 2nd quarter. CWM LLC now owns 4,104 shares of the company’s stock worth $38,000 after purchasing an additional 4,044 shares in the last quarter. Ameritas Investment Partners Inc. increased its position in shares of Arcutis Biotherapeutics by 55.2% in the first quarter. Ameritas Investment Partners Inc. now owns 7,871 shares of the company’s stock worth $78,000 after acquiring an additional 2,800 shares in the last quarter. Algert Global LLC acquired a new stake in shares of Arcutis Biotherapeutics during the second quarter valued at approximately $97,000. Victory Capital Management Inc. boosted its position 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 worth $119,000 after buying an additional 1,155 shares during the period. Finally, Creative Planning acquired a new stake in Arcutis Biotherapeutics during the 3rd quarter worth about $127,000.

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.