Arcutis Biotherapeutics’ (ARQT) Buy Rating Reaffirmed at Guggenheim

Guggenheim reissued their buy rating on shares of Arcutis Biotherapeutics (NASDAQ:ARQT) in a report released on Monday morning,Benzinga reports.

ARQT has been the subject of several other reports. HC Wainwright reaffirmed a “buy” rating and set a $19.00 price objective on shares of Arcutis Biotherapeutics in a research report on Monday, January 13th. Needham & Company LLC reissued a “buy” rating and set a $18.00 target price on shares of Arcutis Biotherapeutics in a research note on Thursday, November 7th. Finally, Mizuho boosted their price target on shares of Arcutis Biotherapeutics from $19.00 to $20.00 and gave the company an “outperform” rating in a report on Tuesday, January 7th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $16.60.

Arcutis Biotherapeutics Stock Up 15.9 %

Arcutis Biotherapeutics stock opened at $13.21 on Monday. Arcutis Biotherapeutics has a twelve month low of $6.05 and a twelve month high of $16.20. The business has a fifty day moving average of $13.63 and a two-hundred day moving average of $11.18. The company has a quick ratio of 2.38, a current ratio of 2.46 and a debt-to-equity ratio of 0.67. The firm has a market cap of $1.55 billion, a P/E ratio of -7.38 and a beta of 1.29.

Insider Transactions at Arcutis Biotherapeutics

In related news, Director Howard G. Welgus sold 10,000 shares of Arcutis Biotherapeutics stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $12.51, for a total value of $125,100.00. Following the transaction, the director now owns 161,944 shares in the company, valued at $2,025,919.44. This trade represents a 5.82 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Masaru Matsuda sold 8,338 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $12.70, for a total transaction of $105,892.60. Following the completion of the transaction, the insider now owns 178,692 shares in the company, valued at $2,269,388.40. The trade was a 4.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 72,927 shares of company stock worth $936,675 in the last quarter. Insiders own 9.50% of the company’s stock.

Institutional Trading of Arcutis Biotherapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ARQT. Tradewinds LLC. bought a new position in Arcutis Biotherapeutics during the fourth quarter valued at $196,000. Norges Bank purchased a new position in shares of Arcutis Biotherapeutics in the 4th quarter worth approximately $7,422,000. Prudential Financial Inc. boosted its stake in Arcutis Biotherapeutics by 3.5% in the 4th quarter. Prudential Financial Inc. now owns 592,565 shares of the company’s stock worth $8,254,000 after purchasing an additional 19,950 shares in the last quarter. Simplify Asset Management Inc. acquired a new stake in Arcutis Biotherapeutics during the 4th quarter valued at approximately $10,340,000. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of Arcutis Biotherapeutics during the 4th quarter valued at approximately $337,000.

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.