Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Receives $13.33 Average PT from Brokerages

Shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) have earned a consensus recommendation of “Moderate Buy” from the seven research firms that are covering the company, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $13.33.

A number of research firms have issued reports on ARQT. Mizuho raised their price target on shares of Arcutis Biotherapeutics from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Wednesday, May 15th. Jefferies Financial Group assumed coverage on shares of Arcutis Biotherapeutics in a report on Wednesday, August 28th. They set a “buy” rating and a $15.00 target price for the company. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $18.00 price target on shares of Arcutis Biotherapeutics in a report on Thursday, August 15th.

Arcutis Biotherapeutics Price Performance

Shares of ARQT opened at $10.36 on Monday. The company has a debt-to-equity ratio of 1.09, a current ratio of 8.46 and a quick ratio of 8.19. The company’s fifty day moving average price is $9.83 and its 200-day moving average price is $9.54. Arcutis Biotherapeutics has a 1-year low of $1.76 and a 1-year high of $13.17. The firm has a market capitalization of $1.20 billion, a PE ratio of -3.54 and a beta of 1.18.

Arcutis Biotherapeutics (NASDAQ:ARQT) last posted its quarterly earnings results on Wednesday, August 14th. The company reported ($0.42) earnings per share for the quarter, beating the consensus estimate of ($0.48) by $0.06. Arcutis Biotherapeutics had a negative return on equity of 145.41% and a negative net margin of 150.51%. The business had revenue of $30.86 million for the quarter, compared to the consensus estimate of $31.00 million. During the same quarter in the previous year, the business earned ($1.16) EPS. On average, equities research analysts predict that Arcutis Biotherapeutics will post -1.56 EPS for the current year.

Insider Buying and Selling

In other Arcutis Biotherapeutics news, Director Howard G. Welgus sold 10,000 shares of Arcutis Biotherapeutics stock in a transaction on Monday, July 1st. The shares were 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 owns 180,339 shares of the company’s stock, valued at $1,678,956.09. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Arcutis Biotherapeutics news, Director Howard G. Welgus sold 10,000 shares of the stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $9.31, for a total transaction of $93,100.00. Following the transaction, the director now owns 180,339 shares in the company, valued at $1,678,956.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Masaru Matsuda sold 5,220 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $9.02, for a total value of $47,084.40. Following the completion of the sale, the insider now directly owns 183,288 shares in the company, valued at $1,653,257.76. The disclosure for this sale can be found here. Over the last three months, insiders have sold 36,948 shares of company stock valued at $360,910. Corporate insiders own 9.50% of the company’s stock.

Institutional Investors Weigh In On Arcutis Biotherapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. acquired a new stake in Arcutis Biotherapeutics in the 4th quarter worth about $34,000. Wilbanks Smith & Thomas Asset Management LLC acquired a new stake in shares of Arcutis Biotherapeutics in the fourth quarter worth approximately $65,000. Los Angeles Capital Management LLC acquired a new stake in shares of Arcutis Biotherapeutics in the fourth quarter worth approximately $628,000. Amalgamated Bank increased its position in shares of Arcutis Biotherapeutics by 48.9% during the fourth quarter. Amalgamated Bank now owns 11,078 shares of the company’s stock worth $36,000 after purchasing an additional 3,639 shares in the last quarter. Finally, Wade G W & Inc. raised its stake in Arcutis Biotherapeutics by 34.8% in the 4th quarter. Wade G W & Inc. now owns 53,100 shares of the company’s stock valued at $172,000 after purchasing an additional 13,700 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.