Arcutis Biotherapeutics (NASDAQ:ARQT) Research Coverage Started at HC Wainwright

HC Wainwright assumed coverage on shares of Arcutis Biotherapeutics (NASDAQ:ARQT) in a research report released on Monday, MarketBeat Ratings reports. The brokerage issued a buy rating and a $19.00 price target on the stock. HC Wainwright also issued estimates for Arcutis Biotherapeutics’ Q4 2024 earnings at ($0.33) EPS, FY2024 earnings at ($1.41) EPS, Q1 2025 earnings at ($0.30) EPS, Q2 2025 earnings at ($0.27) EPS, Q3 2025 earnings at ($0.25) EPS, Q4 2025 earnings at ($0.30) EPS, FY2025 earnings at ($1.13) EPS, FY2026 earnings at ($0.23) EPS, FY2027 earnings at $0.94 EPS and FY2028 earnings at $1.64 EPS.

Separately, Needham & Company LLC reiterated a “buy” rating and issued a $18.00 target price on shares of Arcutis Biotherapeutics in a research report on Thursday, November 7th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Arcutis Biotherapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $16.20.

Arcutis Biotherapeutics Stock Performance

NASDAQ:ARQT opened at $13.93 on Monday. The stock has a market cap of $1.63 billion, a P/E ratio of -7.78 and a beta of 1.32. 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 business’s 50-day moving average price is $11.62 and its two-hundred day moving average price is $10.36. Arcutis Biotherapeutics has a twelve month low of $3.07 and a twelve month high of $15.79.

Arcutis Biotherapeutics (NASDAQ:ARQT) last announced its earnings results on Wednesday, November 6th. The company reported ($0.33) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.42) by $0.09. Arcutis Biotherapeutics had a negative net margin of 140.97% and a negative return on equity of 119.11%. The business had revenue of $44.76 million during the quarter, compared to analyst estimates of $38.05 million. As a group, equities analysts predict that Arcutis Biotherapeutics will post -1.34 EPS for the current fiscal year.

Insider Transactions at Arcutis Biotherapeutics

In related news, insider Patrick Burnett sold 16,023 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $10.14, for a total transaction of $162,473.22. Following the transaction, the insider now directly owns 128,669 shares in the company, valued at $1,304,703.66. This trade represents a 11.07 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Masaru Matsuda sold 5,015 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $8.68, for a total value of $43,530.20. Following the completion of the sale, the insider now owns 178,273 shares of the company’s stock, valued at $1,547,409.64. The trade was a 2.74 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 68,291 shares of company stock worth $781,266. 9.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ARQT. Bank of New York Mellon Corp grew its holdings in Arcutis Biotherapeutics by 25.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 390,202 shares of the company’s stock worth $3,629,000 after acquiring an additional 80,078 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Arcutis Biotherapeutics during the 2nd quarter valued at about $174,000. Rhumbline Advisers raised its position in Arcutis Biotherapeutics by 33.5% during the 2nd quarter. Rhumbline Advisers now owns 167,289 shares of the company’s stock valued at $1,556,000 after purchasing an additional 41,956 shares during the last quarter. Arizona State Retirement System purchased a new stake in Arcutis Biotherapeutics in the 2nd quarter worth approximately $269,000. Finally, Candriam S.C.A. bought a new stake in shares of Arcutis Biotherapeutics in the 2nd quarter worth approximately $12,159,000.

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.