Arcutis Biotherapeutics (NASDAQ:ARQT) Sets New 12-Month High – Should You Buy?

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT)’s stock price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $13.59 and last traded at $13.50, with a volume of 551377 shares. The stock had previously closed at $12.69.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ARQT. Needham & Company LLC reissued a “buy” rating and issued a $18.00 target price on shares of Arcutis Biotherapeutics in a report on Thursday, November 7th. Jefferies Financial Group started coverage on Arcutis Biotherapeutics in a research note on Wednesday, August 28th. They issued a “buy” rating and a $15.00 price objective for the company.

Arcutis Biotherapeutics Trading Down 9.8 %

The stock has a fifty day moving average of $10.47 and a 200-day moving average of $9.88. The company has a market cap of $1.57 billion, a PE ratio of -7.49 and a beta of 1.32. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.38 and a current ratio of 2.46.

Arcutis Biotherapeutics (NASDAQ:ARQT) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.33) EPS for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.09. The firm had revenue of $44.76 million for the quarter, compared to analysts’ expectations of $38.05 million. Arcutis Biotherapeutics had a negative net margin of 140.97% and a negative return on equity of 119.11%. Sell-side analysts anticipate that Arcutis Biotherapeutics, Inc. will post -1.34 EPS for the current fiscal year.

Insiders Place Their Bets

In other Arcutis Biotherapeutics news, SVP Larry Todd Edwards sold 3,725 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $10.01, for a total value of $37,287.25. Following the completion of the transaction, the senior vice president now directly owns 136,635 shares in the company, valued at approximately $1,367,716.35. The trade was a 2.65 % decrease in their ownership of the stock. The sale 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 Arcutis Biotherapeutics stock in a transaction on Friday, November 1st. The stock was sold at an average price of $8.65, for a total transaction of $86,500.00. Following the completion of the transaction, the director now directly owns 171,944 shares in the company, valued at $1,487,315.60. This represents a 5.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 76,951 shares of company stock worth $770,144 in the last ninety days. 9.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Arcutis Biotherapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Point72 DIFC Ltd acquired a new stake in shares of Arcutis Biotherapeutics during the 3rd quarter valued at about $25,000. CWM LLC lifted its stake in shares of Arcutis Biotherapeutics by 6,740.0% in the 2nd quarter. CWM LLC now owns 4,104 shares of the company’s stock valued at $38,000 after purchasing an additional 4,044 shares during the last quarter. Algert Global LLC purchased a new stake in shares of Arcutis Biotherapeutics in the 2nd quarter valued at approximately $97,000. Erste Asset Management GmbH purchased a new position in Arcutis Biotherapeutics during the 3rd quarter valued at about $104,000. Finally, Victory Capital Management Inc. boosted its holdings in Arcutis Biotherapeutics by 9.9% in the third quarter. Victory Capital Management Inc. now owns 12,843 shares of the company’s stock valued at $119,000 after purchasing an additional 1,155 shares during the period.

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.