Arcutis Biotherapeutics (NASDAQ:ARQT) Hits New 1-Year High – Should You Buy?

Shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $30.67 and last traded at $30.36, with a volume of 345475 shares. The stock had previously closed at $29.49.

Wall Street Analyst Weigh In

Several research firms have commented on ARQT. Weiss Ratings restated a “sell (e+)” rating on shares of Arcutis Biotherapeutics in a research note on Tuesday, October 14th. Zacks Research upgraded shares of Arcutis Biotherapeutics from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 29th. Wall Street Zen raised shares of Arcutis Biotherapeutics from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 1st. The Goldman Sachs Group increased their target price on shares of Arcutis Biotherapeutics from $19.00 to $29.00 and gave the stock a “neutral” rating in a report on Thursday, October 30th. Finally, Needham & Company LLC lifted their price target on shares of Arcutis Biotherapeutics from $22.00 to $30.00 and gave the company a “buy” rating in a research note on Tuesday, October 28th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $28.00.

Arcutis Biotherapeutics Trading Up 4.6%

The company has a market cap of $3.78 billion, a P/E ratio of -85.57 and a beta of 1.96. The business has a fifty day moving average price of $21.59 and a 200-day moving average price of $17.13. The company has a quick ratio of 3.28, a current ratio of 3.50 and a debt-to-equity ratio of 0.68.

Arcutis Biotherapeutics (NASDAQ:ARQT) last issued its quarterly earnings data on Tuesday, October 28th. The company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.16. The firm had revenue of $99.22 million for the quarter, compared to analyst estimates of $86.69 million. Arcutis Biotherapeutics had a negative return on equity of 29.69% and a negative net margin of 13.94%. On average, analysts forecast that Arcutis Biotherapeutics, Inc. will post -1.33 earnings per share for the current year.

Insider Activity at Arcutis Biotherapeutics

In related news, insider Patrick Burnett sold 17,250 shares of the business’s stock in a transaction that occurred on Thursday, November 6th. The stock was sold at an average price of $24.18, for a total value of $417,105.00. Following the completion of the sale, the insider directly owned 98,325 shares in the company, valued at approximately $2,377,498.50. The trade was a 14.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Neha Krishnamohan sold 40,504 shares of the firm’s stock in a transaction on Thursday, November 13th. The stock was sold at an average price of $23.20, for a total value of $939,692.80. Following the transaction, the director owned 22,123 shares in the company, valued at approximately $513,253.60. This trade represents a 64.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 297,059 shares of company stock valued at $6,575,447. 9.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Arcutis Biotherapeutics

Several hedge funds have recently bought and sold shares of the company. Cerity Partners LLC acquired a new stake in shares of Arcutis Biotherapeutics during the 1st quarter worth approximately $303,000. CWM LLC lifted its stake in Arcutis Biotherapeutics by 88.9% during the first quarter. CWM LLC now owns 11,331 shares of the company’s stock worth $177,000 after purchasing an additional 5,333 shares during the last quarter. Kestra Private Wealth Services LLC bought a new stake in Arcutis Biotherapeutics during the first quarter worth $221,000. Royce & Associates LP acquired a new stake in shares of Arcutis Biotherapeutics in the 1st quarter valued at $4,185,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Arcutis Biotherapeutics by 3.2% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,697 shares of the company’s stock valued at $464,000 after purchasing an additional 917 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.