Arcutis Biotherapeutics (NASDAQ:ARQT) Receives New Coverage from Analysts at Jefferies Financial Group

Jefferies Financial Group began coverage on shares of Arcutis Biotherapeutics (NASDAQ:ARQT) in a research note released on Wednesday morning, Marketbeat reports. The brokerage issued a buy rating and a $15.00 price objective on the stock.

A number of other equities research analysts have also issued reports on ARQT. Needham & Company LLC reaffirmed a buy rating and issued a $18.00 target price on shares of Arcutis Biotherapeutics in a research note on Thursday, August 15th. Mizuho upped their target price on Arcutis Biotherapeutics from $17.00 to $18.00 and gave the company a buy rating in a research note on Wednesday, May 15th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $13.33.

Arcutis Biotherapeutics Price Performance

Shares of NASDAQ:ARQT opened at $10.88 on Wednesday. Arcutis Biotherapeutics has a 12 month low of $1.76 and a 12 month high of $13.17. The company has a debt-to-equity ratio of 0.90, a current ratio of 9.89 and a quick ratio of 9.61. The business’s 50 day simple moving average is $9.69 and its 200-day simple moving average is $9.48. The firm has a market capitalization of $1.26 billion, a price-to-earnings ratio of -3.71 and a beta of 1.18.

Arcutis Biotherapeutics (NASDAQ:ARQT) last posted its earnings results on Wednesday, August 14th. The company reported ($0.42) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.06. Arcutis Biotherapeutics had a negative return on equity of 197.28% and a negative net margin of 204.35%. The firm had revenue of $30.86 million for the quarter, compared to analyst estimates of $31.00 million. During the same quarter in the prior year, the company earned ($1.16) EPS. As a group, equities analysts forecast that Arcutis Biotherapeutics will post -1.6 earnings per share for the current fiscal year.

Insider Buying and Selling at Arcutis Biotherapeutics

In other Arcutis Biotherapeutics news, Director Howard G. Welgus sold 10,000 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $9.31, for a total value of $93,100.00. Following the completion of the transaction, the director now directly owns 180,339 shares in the company, valued at approximately $1,678,956.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Masaru Matsuda sold 5,220 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $9.02, for a total transaction of $47,084.40. Following the completion of the sale, the insider now directly owns 183,288 shares in the company, valued at approximately $1,653,257.76. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Howard G. Welgus sold 10,000 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $9.31, for a total value of $93,100.00. Following the sale, the director now owns 180,339 shares of the company’s stock, valued at $1,678,956.09. The disclosure for this sale can be found here. In the last three months, insiders sold 26,948 shares of company stock worth $253,210. Insiders own 9.50% of the company’s stock.

Institutional Trading of Arcutis Biotherapeutics

Institutional investors and hedge funds have recently made changes to their positions in the company. CWM LLC increased its holdings in shares of Arcutis Biotherapeutics by 6,740.0% during the 2nd quarter. CWM LLC now owns 4,104 shares of the company’s stock worth $38,000 after buying an additional 4,044 shares during the last quarter. Ameritas Investment Partners Inc. increased its holdings in shares of Arcutis Biotherapeutics by 55.2% during the 1st quarter. Ameritas Investment Partners Inc. now owns 7,871 shares of the company’s stock worth $78,000 after buying an additional 2,800 shares during the last quarter. Cape Investment Advisory Inc. acquired a new stake in shares of Arcutis Biotherapeutics during the 4th quarter worth $26,000. Cantor Fitzgerald L. P. acquired a new stake in shares of Arcutis Biotherapeutics during the 4th quarter worth $33,000. Finally, Algert Global LLC acquired a new stake in shares of Arcutis Biotherapeutics during the 2nd quarter worth $97,000.

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.