Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Receives $13.33 Consensus Target Price from Analysts

Shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) have earned an average rating of “Moderate Buy” from the seven analysts that are currently covering the company, MarketBeat reports. Two analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $13.33.

Several research firms recently issued reports on ARQT. Needham & Company LLC reiterated a “buy” rating and issued a $18.00 price target on shares of Arcutis Biotherapeutics in a report on Thursday, August 15th. Jefferies Financial Group started coverage on shares of Arcutis Biotherapeutics in a research report on Wednesday, August 28th. They set a “buy” rating and a $15.00 target price on the stock.

Insider Activity at Arcutis Biotherapeutics

In other Arcutis Biotherapeutics news, CFO David Joseph Topper sold 11,626 shares of the firm’s stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $9.48, for a total transaction of $110,214.48. Following the transaction, the chief financial officer now owns 158,374 shares in the company, valued at approximately $1,501,385.52. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Howard G. Welgus sold 10,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $10.77, for a total value of $107,700.00. Following the completion of the transaction, the director now owns 191,944 shares of the company’s stock, valued at $2,067,236.88. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO David Joseph Topper sold 11,626 shares of the firm’s stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $9.48, for a total value of $110,214.48. Following the sale, the chief financial officer now directly owns 158,374 shares in the company, valued at $1,501,385.52. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 52,299 shares of company stock worth $507,911. 9.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Arcutis Biotherapeutics

Large investors have recently modified their holdings of the business. Creative Planning bought a new position in shares of Arcutis Biotherapeutics during the 3rd quarter valued at about $127,000. Wesbanco Bank Inc. bought a new position in Arcutis Biotherapeutics in the third quarter valued at approximately $955,000. Inspire Investing LLC acquired a new position in shares of Arcutis Biotherapeutics in the third quarter valued at approximately $412,000. Perceptive Advisors LLC increased its position in shares of Arcutis Biotherapeutics by 107.8% during the second quarter. Perceptive Advisors LLC now owns 1,558,500 shares of the company’s stock worth $14,494,000 after acquiring an additional 808,500 shares in the last quarter. Finally, Capital Impact Advisors LLC acquired a new stake in shares of Arcutis Biotherapeutics during the second quarter worth $606,000.

Arcutis Biotherapeutics Price Performance

ARQT opened at $8.41 on Tuesday. 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 stock has a market capitalization of $973.58 million, a P/E ratio of -2.87 and a beta of 1.17. The company’s 50 day simple moving average is $9.78 and its 200-day simple moving average is $9.43. Arcutis Biotherapeutics has a one year low of $1.76 and a one year high of $13.17.

Arcutis Biotherapeutics (NASDAQ:ARQT) last posted its quarterly earnings data 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 firm had revenue of $30.86 million for the quarter, compared to the consensus estimate 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 quarter in the prior year, the business earned ($1.16) EPS. Sell-side analysts anticipate that Arcutis Biotherapeutics will post -1.56 earnings per share for the current fiscal year.

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.