Arcutis Biotherapeutics (NASDAQ:ARQT) Receives Buy Rating from Guggenheim

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

Several other equities research analysts have also issued reports on the company. The Goldman Sachs Group upped their price target on Arcutis Biotherapeutics from $13.00 to $15.00 and gave the company a “neutral” rating in a research report on Thursday, February 27th. Jefferies Financial Group increased their target price on shares of Arcutis Biotherapeutics from $16.00 to $19.00 and gave the company a “buy” rating in a research report on Tuesday, March 11th. Needham & Company LLC reiterated a “buy” rating and set a $20.00 price target on shares of Arcutis Biotherapeutics in a research report on Thursday. Mizuho raised their target price on shares of Arcutis Biotherapeutics from $20.00 to $21.00 and gave the stock an “outperform” rating in a report on Wednesday, February 26th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $19.00 price objective on shares of Arcutis Biotherapeutics in a research note on Thursday. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $18.80.

Arcutis Biotherapeutics Trading Down 5.7 %

Shares of ARQT traded down $0.95 during mid-day trading on Thursday, hitting $15.66. The company had a trading volume of 681,529 shares, compared to its average volume of 2,416,473. Arcutis Biotherapeutics has a 1-year low of $6.99 and a 1-year high of $17.75. The business’s 50-day simple moving average is $14.14 and its 200-day simple moving average is $12.36. The stock has a market cap of $1.86 billion, a PE ratio of -8.77 and a beta of 1.48. The company has a quick ratio of 2.38, a current ratio of 2.46 and a debt-to-equity ratio of 0.67.

Arcutis Biotherapeutics (NASDAQ:ARQT) last announced its quarterly earnings results 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. Arcutis Biotherapeutics had a negative net margin of 140.97% and a negative return on equity of 119.11%. The firm had revenue of $71.36 million during the quarter, compared to analysts’ expectations of $60.52 million. Sell-side analysts forecast that Arcutis Biotherapeutics will post -1.33 earnings per share for the current year.

Insider Buying and Selling at Arcutis Biotherapeutics

In related news, insider Patrick Burnett sold 12,242 shares of Arcutis Biotherapeutics stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $15.04, for a total transaction of $184,119.68. Following the completion of the transaction, the insider now directly owns 121,936 shares of the company’s stock, valued at $1,833,917.44. This trade represents a 9.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Todd Franklin Watanabe sold 1,500 shares of the stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $17.52, for a total value of $26,280.00. Following the sale, the insider now owns 927,414 shares in the company, valued at approximately $16,248,293.28. This trade represents a 0.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 46,099 shares of company stock worth $631,256 over the last ninety days. Company insiders own 9.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in ARQT. Summit Investment Advisors Inc. lifted its stake in Arcutis Biotherapeutics by 8.0% in the fourth quarter. Summit Investment Advisors Inc. now owns 11,245 shares of the company’s stock valued at $157,000 after buying an additional 837 shares during the period. China Universal Asset Management Co. Ltd. grew its position in shares of Arcutis Biotherapeutics by 10.4% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 24,818 shares of the company’s stock valued at $346,000 after purchasing an additional 2,336 shares during the period. GF Fund Management CO. LTD. bought a new stake in Arcutis Biotherapeutics during the 4th quarter worth approximately $34,000. Point72 DIFC Ltd acquired a new stake in Arcutis Biotherapeutics during the 3rd quarter worth approximately $25,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Arcutis Biotherapeutics by 1.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 276,691 shares of the company’s stock valued at $2,573,000 after acquiring an additional 2,912 shares in 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.