Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) have been given an average recommendation of “Moderate Buy” by the eight research firms that are currently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $26.56.

ARQT has been the topic of several research reports. Needham & Company LLC reissued a “buy” rating and issued a $16.00 target price on shares of Arcutis Biotherapeutics in a research report on Friday, April 12th. Mizuho reissued a “buy” rating and set a $16.00 target price (up from $8.00) on shares of Arcutis Biotherapeutics in a research note on Friday, February 23rd. Finally, The Goldman Sachs Group increased their target price on shares of Arcutis Biotherapeutics from $6.00 to $11.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 28th.

Arcutis Biotherapeutics Stock Performance

Shares of ARQT stock opened at $8.00 on Tuesday. The business’s fifty day simple moving average is $10.07 and its 200-day simple moving average is $5.95. The company has a market cap of $924.24 million, a PE ratio of -2.04 and a beta of 1.18. The company has a current ratio of 7.08, a quick ratio of 6.80 and a debt-to-equity ratio of 2.28. Arcutis Biotherapeutics has a 12-month low of $1.76 and a 12-month high of $15.21.

Arcutis Biotherapeutics (NASDAQ:ARQT) last released its earnings results on Tuesday, February 27th. The company reported ($0.72) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.64) by ($0.08). Arcutis Biotherapeutics had a negative net margin of 439.79% and a negative return on equity of 294.85%. The firm had revenue of $13.53 million during the quarter, compared to analyst estimates of $11.78 million. During the same period in the previous year, the company earned ($1.18) earnings per share. Analysts expect that Arcutis Biotherapeutics will post -2.21 earnings per share for the current fiscal year.

Insider Activity at Arcutis Biotherapeutics

In related news, insider Masaru Matsuda sold 3,760 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $11.12, for a total value of $41,811.20. Following the transaction, the insider now directly owns 190,424 shares of the company’s stock, valued at approximately $2,117,514.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 20.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Arcutis Biotherapeutics

A number of hedge funds have recently bought and sold shares of the business. Jennison Associates LLC raised its holdings in Arcutis Biotherapeutics by 34.3% in the 1st quarter. Jennison Associates LLC now owns 12,176,315 shares of the company’s stock valued at $120,667,000 after acquiring an additional 3,110,233 shares during the last quarter. Capstone Investment Advisors LLC acquired a new stake in Arcutis Biotherapeutics in the 1st quarter valued at about $569,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Arcutis Biotherapeutics in the 1st quarter valued at about $469,000. China Universal Asset Management Co. Ltd. raised its holdings in Arcutis Biotherapeutics by 70.5% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 18,614 shares of the company’s stock valued at $184,000 after acquiring an additional 7,694 shares during the last quarter. Finally, Fishman Jay A Ltd. MI raised its holdings in Arcutis Biotherapeutics by 323.2% in the 1st quarter. Fishman Jay A Ltd. MI now owns 224,300 shares of the company’s stock valued at $2,223,000 after acquiring an additional 171,300 shares during the last quarter.

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.