Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) has been given a consensus recommendation of “Moderate Buy” by the six analysts that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $18.80.

A number of research firms recently commented on ARQT. HC Wainwright reissued a “buy” rating and set a $19.00 price objective on shares of Arcutis Biotherapeutics in a report on Wednesday, February 26th. Guggenheim restated a “buy” rating on shares of Arcutis Biotherapeutics in a report on Monday, February 24th. The Goldman Sachs Group lifted 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 reissued a “buy” rating and issued a $20.00 target price on shares of Arcutis Biotherapeutics in a report on Wednesday, February 26th. Finally, Mizuho raised their price target on Arcutis Biotherapeutics from $20.00 to $21.00 and gave the company an “outperform” rating in a research report on Wednesday, February 26th.

Arcutis Biotherapeutics Stock Down 0.6 %

ARQT opened at $15.64 on Tuesday. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.46 and a quick ratio of 2.38. Arcutis Biotherapeutics has a 12 month low of $6.99 and a 12 month high of $17.75. The stock has a market capitalization of $1.86 billion, a P/E ratio of -8.74 and a beta of 1.48. The business has a 50 day simple moving average of $14.04 and a 200-day simple moving average of $12.30.

Arcutis Biotherapeutics (NASDAQ:ARQT) last released 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 will post -1.33 earnings per share for the current fiscal year.

Insider Buying and Selling at Arcutis Biotherapeutics

In other Arcutis Biotherapeutics news, insider Todd Franklin Watanabe sold 1,500 shares of the company’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $17.52, for a total value of $26,280.00. Following the transaction, the insider now directly owns 927,414 shares in the company, valued at approximately $16,248,293.28. This represents a 0.16 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Howard G. Welgus sold 10,000 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $14.67, for a total transaction of $146,700.00. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 56,099 shares of company stock worth $777,956. 9.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Arcutis Biotherapeutics

Institutional investors and hedge funds have recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC purchased a new stake in Arcutis Biotherapeutics in the 4th quarter worth approximately $291,000. GF Fund Management CO. LTD. purchased a new stake 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 increased its stake in Arcutis Biotherapeutics by 1.2% in the fourth 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 last quarter. Voloridge Investment Management LLC lifted its position in Arcutis Biotherapeutics by 126.5% during the fourth quarter. Voloridge Investment Management LLC now owns 290,938 shares of the company’s stock worth $4,053,000 after buying an additional 162,495 shares during the period. Finally, Squarepoint Ops LLC boosted its stake in Arcutis Biotherapeutics by 67.2% in the 4th quarter. Squarepoint Ops LLC now owns 121,392 shares of the company’s stock worth $1,691,000 after buying an additional 48,769 shares during the last quarter.

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.