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

Shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) have been assigned a consensus recommendation of “Moderate Buy” from the seven analysts that are currently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $13.33.

Several equities analysts have commented on ARQT shares. Jefferies Financial Group initiated coverage on shares of Arcutis Biotherapeutics in a report on Wednesday, August 28th. They issued a “buy” rating and a $15.00 target price on the stock. Needham & Company LLC reissued a “buy” rating and issued a $18.00 price objective on shares of Arcutis Biotherapeutics in a research note on Thursday, August 15th.

Insider Buying and Selling

In other news, SVP Larry Todd Edwards sold 3,725 shares of Arcutis Biotherapeutics stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $10.01, for a total transaction of $37,287.25. Following the sale, the senior vice president now directly owns 136,635 shares of the company’s stock, valued at $1,367,716.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Arcutis Biotherapeutics news, insider Masaru Matsuda sold 5,220 shares of the company’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $9.02, for a total value of $47,084.40. Following the sale, the insider now owns 183,288 shares in the company, valued at approximately $1,653,257.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Larry Todd Edwards sold 3,725 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $10.01, for a total value of $37,287.25. Following the transaction, the senior vice president now owns 136,635 shares of the company’s stock, valued at $1,367,716.35. The disclosure for this sale can be found here. Insiders have sold 52,299 shares of company stock worth $507,911 in the last 90 days. Insiders own 9.50% of the company’s stock.

Institutional Trading of Arcutis Biotherapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Pennant Investors LP bought a new stake in shares of Arcutis Biotherapeutics in the 4th quarter valued at $552,000. SG Americas Securities LLC boosted its position in Arcutis Biotherapeutics by 531.2% during the second quarter. SG Americas Securities LLC now owns 99,161 shares of the company’s stock valued at $922,000 after acquiring an additional 83,452 shares during the last quarter. AMI Asset Management Corp acquired a new stake in Arcutis Biotherapeutics during the 1st quarter worth about $3,421,000. ADAR1 Capital Management LLC bought a new position in shares of Arcutis Biotherapeutics in the 4th quarter worth about $888,000. Finally, Vanguard Group Inc. lifted its stake in shares of Arcutis Biotherapeutics by 5.5% in the 1st quarter. Vanguard Group Inc. now owns 5,166,417 shares of the company’s stock valued at $51,199,000 after purchasing an additional 269,904 shares during the period.

Arcutis Biotherapeutics Trading Down 0.5 %

Shares of NASDAQ:ARQT opened at $10.18 on Friday. The company has a market capitalization of $1.18 billion, a P/E ratio of -3.47 and a beta of 1.17. 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 business’s 50 day simple moving average is $9.81 and its 200 day simple moving average is $9.49. Arcutis Biotherapeutics has a 1 year low of $1.76 and a 1 year high of $13.17.

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

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.