Arcutis Biotherapeutics (NASDAQ:ARQT) Trading 13.1% Higher – What’s Next?

Shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) shot up 13.1% during mid-day trading on Monday . The stock traded as high as $15.01 and last traded at $16.53. 437,984 shares traded hands during trading, a decline of 82% from the average session volume of 2,382,324 shares. The stock had previously closed at $14.62.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on ARQT. The Goldman Sachs Group raised their price objective on Arcutis Biotherapeutics from $13.00 to $15.00 and gave the stock a “neutral” rating in a report on Thursday, February 27th. Needham & Company LLC reiterated a “buy” rating and issued a $20.00 target price on shares of Arcutis Biotherapeutics in a report on Wednesday, February 26th. Jefferies Financial Group raised their price objective on Arcutis Biotherapeutics from $16.00 to $19.00 and gave the company a “buy” rating in a research report on Tuesday, March 11th. HC Wainwright reaffirmed a “buy” rating and set a $19.00 target price on shares of Arcutis Biotherapeutics in a research report on Wednesday, February 26th. Finally, Mizuho lifted their target price on Arcutis Biotherapeutics from $20.00 to $21.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 26th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Arcutis Biotherapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.80.

Arcutis Biotherapeutics Stock Performance

The company has a debt-to-equity ratio of 0.67, a current ratio of 2.46 and a quick ratio of 2.38. The company has a fifty day moving average of $13.52 and a two-hundred day moving average of $11.85. The stock has a market capitalization of $1.97 billion, a P/E ratio of -9.30 and a beta of 1.48.

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

Insider Transactions at Arcutis Biotherapeutics

In other Arcutis Biotherapeutics news, insider Masaru Matsuda sold 8,338 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was 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 in the company, valued at $2,269,388.40. This represents a 4.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Howard G. Welgus sold 10,000 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $14.67, for a total value of $146,700.00. Following the completion of the transaction, the director now directly owns 151,944 shares in the company, valued at $2,229,018.48. This represents a 6.17 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 57,848 shares of company stock worth $797,648. Company insiders own 9.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. GF Fund Management CO. LTD. bought a new position in shares of Arcutis Biotherapeutics in the fourth quarter valued at $34,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Arcutis Biotherapeutics by 1.2% during the 4th 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 purchasing an additional 3,409 shares during the period. Voloridge Investment Management LLC raised its stake in Arcutis Biotherapeutics by 126.5% during the 4th quarter. Voloridge Investment Management LLC now owns 290,938 shares of the company’s stock valued at $4,053,000 after purchasing an additional 162,495 shares during the period. Squarepoint Ops LLC raised its stake in Arcutis Biotherapeutics by 67.2% during the 4th quarter. Squarepoint Ops LLC now owns 121,392 shares of the company’s stock valued at $1,691,000 after purchasing an additional 48,769 shares during the period. Finally, Suvretta Capital Management LLC raised its stake in 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 during the period.

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.