Arcutis Biotherapeutics’ (ARQT) Buy Rating Reiterated at HC Wainwright

HC Wainwright restated their buy rating on shares of Arcutis Biotherapeutics (NASDAQ:ARQT) in a report issued on Wednesday,Benzinga reports. HC Wainwright currently has a $19.00 price objective on the stock. HC Wainwright also issued estimates for Arcutis Biotherapeutics’ FY2027 earnings at $1.12 EPS and FY2028 earnings at $1.82 EPS.

A number of other equities research analysts also recently issued reports on ARQT. Guggenheim reiterated a “buy” rating on shares of Arcutis Biotherapeutics in a research note on Monday, February 24th. Needham & Company LLC reiterated a “buy” rating and set a $20.00 price objective on shares of Arcutis Biotherapeutics in a research note on Wednesday. Finally, Mizuho increased their price objective on shares of Arcutis Biotherapeutics from $20.00 to $21.00 and gave the stock an “outperform” rating in a research note on Wednesday. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $18.00.

Arcutis Biotherapeutics Trading Up 7.0 %

Shares of Arcutis Biotherapeutics stock opened at $13.69 on Wednesday. The company has a market capitalization of $1.60 billion, a price-to-earnings ratio of -7.65 and a beta of 1.29. The company has a quick ratio of 2.38, a current ratio of 2.46 and a debt-to-equity ratio of 0.67. Arcutis Biotherapeutics has a 12-month low of $6.99 and a 12-month high of $16.20. The firm’s 50-day moving average price is $13.56 and its two-hundred day moving average price is $11.43.

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

Insider Activity

In related news, insider Todd Franklin Watanabe sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $15.17, for a total value of $227,550.00. Following the completion of the transaction, the insider now owns 823,430 shares in the company, valued at $12,491,433.10. This trade represents a 1.79 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Howard G. Welgus sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $14.67, for a total transaction of $146,700.00. Following the completion of the transaction, the director now owns 151,944 shares of the company’s stock, valued at approximately $2,229,018.48. This trade represents a 6.17 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 55,029 shares of company stock worth $756,017. Corporate insiders own 9.50% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. GF Fund Management CO. LTD. bought a new position in Arcutis Biotherapeutics in the 4th quarter valued at approximately $34,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Arcutis Biotherapeutics by 1.2% in 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 buying an additional 3,409 shares during the last quarter. Voloridge Investment Management LLC raised its holdings in Arcutis Biotherapeutics by 126.5% in the 4th quarter. Voloridge Investment Management LLC now owns 290,938 shares of the company’s stock valued at $4,053,000 after buying an additional 162,495 shares during the last quarter. Squarepoint Ops LLC raised its holdings in Arcutis Biotherapeutics by 67.2% during the 4th quarter. Squarepoint Ops LLC now owns 121,392 shares of the company’s stock worth $1,691,000 after purchasing an additional 48,769 shares during the last quarter. Finally, Suvretta Capital Management LLC raised its holdings 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 worth $158,790,000 after purchasing an additional 677,627 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.