Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Given Average Rating of “Moderate Buy” by Analysts

Shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) have received a consensus rating of “Moderate Buy” from the eight research firms that are covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $25.38.

Several equities analysts recently commented on the company. The Goldman Sachs Group boosted their target price on Arcutis Biotherapeutics from $6.00 to $11.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 28th. Needham & Company LLC boosted their target price on Arcutis Biotherapeutics from $16.00 to $18.00 and gave the stock a “buy” rating in a research report on Wednesday, May 15th. Finally, Mizuho boosted their target price on Arcutis Biotherapeutics from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Wednesday, May 15th.

Arcutis Biotherapeutics Stock Performance

NASDAQ:ARQT opened at $9.60 on Wednesday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 9.61 and a current ratio of 9.89. Arcutis Biotherapeutics has a 52-week low of $1.76 and a 52-week high of $13.17. The firm has a market cap of $1.11 billion, a price-to-earnings ratio of -3.28 and a beta of 1.17. The business’s fifty day moving average is $8.57 and its 200 day moving average is $7.61.

Arcutis Biotherapeutics (NASDAQ:ARQT) last posted its earnings results on Tuesday, May 14th. The company reported ($0.32) EPS for the quarter, topping the consensus estimate of ($0.60) by $0.28. Arcutis Biotherapeutics had a negative return on equity of 197.28% and a negative net margin of 204.35%. The business had revenue of $49.57 million during the quarter. During the same quarter in the previous year, the firm earned ($1.31) earnings per share. Research analysts predict that Arcutis Biotherapeutics will post -1.6 EPS for the current year.

Insider Transactions at Arcutis Biotherapeutics

In other news, SVP Larry Todd Edwards sold 7,640 shares of the company’s stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $8.98, for a total value of $68,607.20. Following the completion of the transaction, the senior vice president now directly owns 140,360 shares in the company, valued at approximately $1,260,432.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Patrick Burnett sold 23,000 shares of the stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $8.75, for a total transaction of $201,250.00. Following the completion of the sale, the insider now directly owns 209,793 shares in the company, valued at approximately $1,835,688.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Larry Todd Edwards sold 7,640 shares of the stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $8.98, for a total value of $68,607.20. Following the sale, the senior vice president now owns 140,360 shares of the company’s stock, valued at $1,260,432.80. The disclosure for this sale can be found here. In the last three months, insiders sold 32,415 shares of company stock worth $285,850. 9.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Arcutis Biotherapeutics

Institutional investors have recently bought and sold shares of the stock. Cape Investment Advisory Inc. purchased a new stake in Arcutis Biotherapeutics during the 4th quarter valued at about $26,000. Cantor Fitzgerald L. P. purchased a new stake in Arcutis Biotherapeutics during the 4th quarter valued at about $33,000. Victory Capital Management Inc. purchased a new stake in Arcutis Biotherapeutics during the 4th quarter valued at about $34,000. China Universal Asset Management Co. Ltd. boosted its holdings in Arcutis Biotherapeutics by 586.8% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 10,920 shares of the company’s stock valued at $35,000 after acquiring an additional 9,330 shares during the period. Finally, Amalgamated Bank raised its position in Arcutis Biotherapeutics by 48.9% during the 4th quarter. Amalgamated Bank now owns 11,078 shares of the company’s stock valued at $36,000 after purchasing an additional 3,639 shares during the last quarter.

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.