Arcutis Biotherapeutics (NASDAQ:ARQT) Stock Price Expected to Rise, Mizuho Analyst Says

Arcutis Biotherapeutics (NASDAQ:ARQT) had its target price increased by equities researchers at Mizuho from $20.00 to $21.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Mizuho’s price objective would indicate a potential upside of 64.51% from the stock’s previous close.

A number of other analysts have also recently commented on ARQT. Guggenheim restated a “buy” rating on shares of Arcutis Biotherapeutics in a research report on Monday. HC Wainwright reaffirmed a “buy” rating and set a $19.00 target price on shares of Arcutis Biotherapeutics in a research report on Monday, January 13th. Finally, Needham & Company LLC reissued a “buy” rating and set a $20.00 price target on shares of Arcutis Biotherapeutics in a research report on Wednesday. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.20.

Arcutis Biotherapeutics Price Performance

Shares of ARQT traded up $0.57 during mid-day trading on Wednesday, reaching $12.77. 1,750,378 shares of the stock traded hands, compared to its average volume of 2,136,096. The company has a market cap of $1.49 billion, a price-to-earnings ratio of -7.13 and a beta of 1.29. The company has a current ratio of 2.46, a quick ratio of 2.38 and a debt-to-equity ratio of 0.67. Arcutis Biotherapeutics has a 1 year low of $6.99 and a 1 year high of $16.20. The firm has a fifty day moving average price of $13.59 and a 200 day moving average price of $11.41.

Arcutis Biotherapeutics (NASDAQ:ARQT) last announced its quarterly earnings results on Tuesday, February 25th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.19. The company had revenue of $71.36 million for the quarter, compared to the consensus estimate of $60.52 million. Arcutis Biotherapeutics had a negative return on equity of 119.11% and a negative net margin of 140.97%. As a group, equities research analysts predict that Arcutis Biotherapeutics will post -1.33 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Howard G. Welgus sold 10,000 shares of Arcutis Biotherapeutics 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 sale, the director now owns 161,944 shares of the company’s stock, valued at approximately $2,025,919.44. The trade was a 5.82 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Masaru Matsuda sold 8,338 shares of Arcutis Biotherapeutics stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $12.70, for a total value of $105,892.60. Following the completion of the sale, the insider now directly owns 178,692 shares of the company’s stock, valued at $2,269,388.40. The trade was a 4.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 55,029 shares of company stock worth $756,017. 9.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in ARQT. GF Fund Management CO. LTD. acquired a new stake in shares of Arcutis Biotherapeutics in the 4th quarter worth $34,000. Point72 DIFC Ltd purchased a new stake in Arcutis Biotherapeutics during the third quarter worth approximately $25,000. Venturi Wealth Management LLC purchased a new position in Arcutis Biotherapeutics in the 4th quarter worth approximately $46,000. Cibc World Markets Corp bought a new position in Arcutis Biotherapeutics during the 4th quarter valued at $140,000. Finally, Erste Asset Management GmbH acquired a new position in Arcutis Biotherapeutics in the third quarter worth $104,000.

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.