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

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) has been given an average rating of “Moderate Buy” by the eight analysts that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $34.00.

A number of research firms recently issued reports on ARQT. HC Wainwright boosted their price objective on Arcutis Biotherapeutics from $30.00 to $34.00 and gave the company a “buy” rating in a report on Thursday, February 26th. Needham & Company LLC restated a “buy” rating and set a $36.00 price objective on shares of Arcutis Biotherapeutics in a report on Thursday, May 7th. Guggenheim boosted their price objective on Arcutis Biotherapeutics from $34.00 to $35.00 and gave the company a “buy” rating in a report on Friday, February 27th. Weiss Ratings restated a “sell (d-)” rating on shares of Arcutis Biotherapeutics in a report on Friday, March 27th. Finally, Wall Street Zen cut Arcutis Biotherapeutics from a “buy” rating to a “hold” rating in a report on Saturday, May 9th.

Arcutis Biotherapeutics Price Performance

Shares of Arcutis Biotherapeutics stock opened at $21.46 on Friday. The stock has a market cap of $2.68 billion, a price-to-earnings ratio of -715.09 and a beta of 1.58. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.46 and a current ratio of 2.68. The stock has a 50 day moving average price of $22.57 and a 200-day moving average price of $25.53. Arcutis Biotherapeutics has a one year low of $12.72 and a one year high of $31.77.

Arcutis Biotherapeutics (NASDAQ:ARQT) last announced its earnings results on Wednesday, May 6th. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.07). The company had revenue of $105.40 million during the quarter, compared to analysts’ expectations of $103.68 million. Arcutis Biotherapeutics had a negative return on equity of 1.41% and a negative net margin of 0.57%. Equities analysts expect that Arcutis Biotherapeutics will post 0.15 EPS for the current year.

Insider Activity at Arcutis Biotherapeutics

In other Arcutis Biotherapeutics news, insider Todd Watanabe sold 37,349 shares of the company’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $25.18, for a total value of $940,447.82. Following the completion of the sale, the insider directly owned 785,957 shares in the company, valued at approximately $19,790,397.26. This represents a 4.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Masaru Matsuda sold 8,733 shares of the company’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $25.30, for a total value of $220,944.90. Following the completion of the sale, the insider owned 136,932 shares of the company’s stock, valued at $3,464,379.60. This represents a 6.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 90,163 shares of company stock worth $2,216,396 over the last quarter. 9.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Arcutis Biotherapeutics

Several hedge funds have recently made changes to their positions in the company. Focus Partners Wealth lifted its holdings in shares of Arcutis Biotherapeutics by 0.8% in the 3rd quarter. Focus Partners Wealth now owns 65,196 shares of the company’s stock worth $1,237,000 after buying an additional 490 shares during the period. Arizona State Retirement System raised its position in shares of Arcutis Biotherapeutics by 1.8% in the 3rd quarter. Arizona State Retirement System now owns 31,685 shares of the company’s stock worth $597,000 after acquiring an additional 568 shares in the last quarter. Schroder Investment Management Group raised its position in shares of Arcutis Biotherapeutics by 1.1% in the 4th quarter. Schroder Investment Management Group now owns 57,136 shares of the company’s stock worth $1,604,000 after acquiring an additional 594 shares in the last quarter. AlphaQuest LLC raised its position in shares of Arcutis Biotherapeutics by 5.7% in the 3rd quarter. AlphaQuest LLC now owns 12,603 shares of the company’s stock worth $238,000 after acquiring an additional 682 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in shares of Arcutis Biotherapeutics by 124.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,261 shares of the company’s stock worth $37,000 after acquiring an additional 698 shares in the last quarter.

Arcutis Biotherapeutics Company Profile

Arcutis Biotherapeutics is a clinical-stage biopharmaceutical company focused on developing and commercializing innovative therapies for immuno-inflammatory skin diseases. The company’s research and development efforts center on targeted treatments that address the underlying biology of conditions such as plaque psoriasis, atopic dermatitis, seborrheic dermatitis and vitiligo. Arcutis employs a precision-medicine approach to deliver topical therapies designed to improve efficacy and tolerability compared with existing treatment options.

In August 2022, Arcutis received U.S.