Arcutis Biotherapeutics (NASDAQ:ARQT) Given “Buy” Rating at Guggenheim

Arcutis Biotherapeutics (NASDAQ:ARQT)‘s stock had its “buy” rating restated by Guggenheim in a research report issued on Thursday,Benzinga reports.

ARQT has been the subject of several other research reports. Jefferies Financial Group lifted their price objective on Arcutis Biotherapeutics from $16.00 to $19.00 and gave the company a “buy” rating in a research note on Tuesday, March 11th. Mizuho raised their price objective on shares of Arcutis Biotherapeutics from $20.00 to $21.00 and gave the company an “outperform” rating in a report on Wednesday, February 26th. HC Wainwright reissued a “buy” rating and issued a $19.00 target price on shares of Arcutis Biotherapeutics in a report on Thursday. The Goldman Sachs Group upped their price objective on Arcutis Biotherapeutics from $13.00 to $15.00 and gave the stock a “neutral” rating in a research report on Thursday, February 27th. Finally, Needham & Company LLC restated a “buy” rating and set a $20.00 price objective on shares of Arcutis Biotherapeutics in a research report on Thursday. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Arcutis Biotherapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.80.

Arcutis Biotherapeutics Stock Down 5.7 %

Shares of NASDAQ ARQT traded down $0.95 during midday trading on Thursday, hitting $15.66. The company’s stock had a trading volume of 681,529 shares, compared to its average volume of 2,416,473. 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 $1.86 billion, a price-to-earnings ratio of -8.77 and a beta of 1.48. The business’s fifty day simple moving average is $14.14 and its two-hundred day simple moving average is $12.36. Arcutis Biotherapeutics has a 1 year low of $6.99 and a 1 year high of $17.75.

Arcutis Biotherapeutics (NASDAQ:ARQT) last posted its quarterly earnings data on Tuesday, February 25th. The company reported ($0.09) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.19. The business had revenue of $71.36 million for the quarter, compared to analyst estimates of $60.52 million. Arcutis Biotherapeutics had a negative return on equity of 119.11% and a negative net margin of 140.97%. On average, equities analysts predict that Arcutis Biotherapeutics will post -1.33 EPS for the current year.

Insider Activity

In other Arcutis Biotherapeutics news, insider Todd Franklin Watanabe sold 1,500 shares of the firm’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $17.52, for a total transaction of $26,280.00. Following the completion of the transaction, the insider now owns 927,414 shares of the company’s stock, valued at approximately $16,248,293.28. This trade represents a 0.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Masaru Matsuda sold 8,338 shares of the business’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $12.70, for a total value of $105,892.60. Following the completion of the transaction, the insider now directly owns 178,692 shares of the company’s stock, valued at approximately $2,269,388.40. This trade represents a 4.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 46,099 shares of company stock valued at $631,256. 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. Point72 Asset Management L.P. boosted its stake in shares of Arcutis Biotherapeutics by 617.5% during the 4th quarter. Point72 Asset Management L.P. now owns 1,753,522 shares of the company’s stock worth $24,427,000 after purchasing an additional 1,509,136 shares during the last quarter. Cercano Management LLC purchased a new position in shares of Arcutis Biotherapeutics during the fourth quarter valued at approximately $17,487,000. Millennium Management LLC boosted its position in Arcutis Biotherapeutics by 101.3% during the fourth quarter. Millennium Management LLC now owns 2,310,163 shares of the company’s stock worth $32,181,000 after acquiring an additional 1,162,690 shares during the last quarter. Driehaus Capital Management LLC purchased a new stake in Arcutis Biotherapeutics in the 4th quarter worth approximately $15,278,000. Finally, D. E. Shaw & Co. Inc. raised its holdings in Arcutis Biotherapeutics by 44.0% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 2,513,577 shares of the company’s stock valued at $35,014,000 after acquiring an additional 768,553 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.