Arcutis Biotherapeutics’ (ARQT) Buy Rating Reiterated at Guggenheim

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

ARQT has been the subject of several other reports. Mizuho increased their price target on Arcutis Biotherapeutics from $19.00 to $20.00 and gave the stock an “outperform” rating in a report on Tuesday, January 7th. HC Wainwright restated a “buy” rating and issued a $19.00 target price on shares of Arcutis Biotherapeutics in a research note on Monday, January 13th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $18.00 price target on shares of Arcutis Biotherapeutics in a research note on Thursday, November 7th. One 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, Arcutis Biotherapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $17.20.

Arcutis Biotherapeutics Stock Performance

Shares of Arcutis Biotherapeutics stock opened at $13.22 on Monday. The stock has a market capitalization of $1.55 billion, a price-to-earnings ratio of -7.39 and a beta of 1.29. The firm’s fifty day simple moving average is $13.58 and its 200-day simple moving average is $11.42. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.46 and a quick ratio of 2.38. Arcutis Biotherapeutics has a 12 month low of $6.99 and a 12 month high of $16.20.

Arcutis Biotherapeutics (NASDAQ:ARQT) last announced its earnings results on Tuesday, February 25th. The company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.28) by $0.19. The business had revenue of $71.36 million during the quarter, compared to the consensus estimate of $60.52 million. Arcutis Biotherapeutics had a negative net margin of 140.97% and a negative return on equity of 119.11%. As a group, equities analysts forecast that Arcutis Biotherapeutics will post -1.33 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Howard G. Welgus sold 10,000 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $12.51, for a total value of $125,100.00. Following the sale, the director now directly owns 161,944 shares of the company’s stock, valued at approximately $2,025,919.44. This represents a 5.82 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Masaru Matsuda sold 8,338 shares of Arcutis Biotherapeutics stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $12.70, for a total transaction of $105,892.60. Following the transaction, the insider now owns 178,692 shares of the company’s stock, valued at approximately $2,269,388.40. The trade was a 4.46 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 55,029 shares of company stock worth $756,017. 9.50% of the stock is owned by company insiders.

Institutional Trading of Arcutis Biotherapeutics

Institutional investors and hedge funds have recently made changes to their positions in the stock. Summit Investment Advisors Inc. grew its holdings in shares of Arcutis Biotherapeutics by 8.0% during the fourth quarter. Summit Investment Advisors Inc. now owns 11,245 shares of the company’s stock worth $157,000 after buying an additional 837 shares in the last quarter. Victory Capital Management Inc. raised its holdings in Arcutis Biotherapeutics by 9.9% in the 3rd quarter. Victory Capital Management Inc. now owns 12,843 shares of the company’s stock valued at $119,000 after acquiring an additional 1,155 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its stake in shares of Arcutis Biotherapeutics by 10.4% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 24,818 shares of the company’s stock worth $346,000 after purchasing an additional 2,336 shares during the period. GF Fund Management CO. LTD. acquired a new stake in shares of Arcutis Biotherapeutics during the fourth quarter worth $34,000. Finally, Point72 DIFC Ltd purchased a new stake in shares of Arcutis Biotherapeutics in the third quarter valued at $25,000.

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.