Arcutis Biotherapeutics’ (ARQT) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reissued their buy rating on shares of Arcutis Biotherapeutics (NASDAQ:ARQT) in a research note published on Monday morning,Benzinga reports. The firm currently has a $19.00 price target on the stock.

A number of other research firms have also commented on ARQT. Mizuho lifted their price target on shares of Arcutis Biotherapeutics from $19.00 to $20.00 and gave the company an “outperform” rating in a research report on Tuesday, January 7th. Needham & Company LLC reiterated a “buy” rating and set a $18.00 target price on shares of Arcutis Biotherapeutics in a research report on Thursday, November 7th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $16.60.

Arcutis Biotherapeutics Stock Up 4.8 %

ARQT stock opened at $13.92 on Monday. Arcutis Biotherapeutics has a 52-week low of $3.11 and a 52-week high of $16.20. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.46 and a quick ratio of 2.38. The firm has a market capitalization of $1.63 billion, a P/E ratio of -7.78 and a beta of 1.30. The company’s 50 day simple moving average is $12.77 and its 200-day simple moving average is $10.76.

Arcutis Biotherapeutics (NASDAQ:ARQT) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.33) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.42) by $0.09. The business had revenue of $44.76 million during the quarter, compared to analyst estimates of $38.05 million. Arcutis Biotherapeutics had a negative return on equity of 119.11% and a negative net margin of 140.97%. As a group, equities research analysts anticipate that Arcutis Biotherapeutics will post -1.34 EPS for the current year.

Insiders Place Their Bets

In other Arcutis Biotherapeutics news, insider Todd Franklin Watanabe sold 15,000 shares of Arcutis Biotherapeutics stock in a transaction on Friday, December 20th. The shares were sold at an average price of $15.17, for a total transaction of $227,550.00. Following the completion of the sale, the insider now owns 823,430 shares of the company’s stock, valued at approximately $12,491,433.10. The trade was a 1.79 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Masaru Matsuda sold 5,015 shares of the stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $8.68, for a total value of $43,530.20. Following the completion of the transaction, the insider now directly owns 178,273 shares in the company, valued at $1,547,409.64. The trade was a 2.74 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 78,291 shares of company stock valued at $927,966. 9.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Arcutis Biotherapeutics

Several large investors have recently bought and sold shares of the company. Rubric Capital Management LP boosted its holdings in shares of Arcutis Biotherapeutics by 30.7% in the second quarter. Rubric Capital Management LP now owns 9,816,672 shares of the company’s stock valued at $91,295,000 after buying an additional 2,306,672 shares during the period. Perceptive Advisors LLC lifted its position in shares of Arcutis Biotherapeutics by 107.8% in the second quarter. Perceptive Advisors LLC now owns 1,558,500 shares of the company’s stock valued at $14,494,000 after buying an additional 808,500 shares during the last quarter. Suvretta Capital Management LLC increased its holdings in shares of Arcutis Biotherapeutics by 7.2% in the third quarter. Suvretta Capital Management LLC now owns 10,721,511 shares of the company’s stock valued at $99,710,000 after purchasing an additional 717,019 shares during the last quarter. State Street Corp lifted its position in Arcutis Biotherapeutics by 9.9% during the third quarter. State Street Corp now owns 5,641,631 shares of the company’s stock worth $52,467,000 after acquiring an additional 506,788 shares during the last quarter. Finally, abrdn plc increased its position in Arcutis Biotherapeutics by 223.8% during the 3rd quarter. abrdn plc now owns 482,074 shares of the company’s stock worth $4,483,000 after buying an additional 333,200 shares during the period.

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.