Arcutis Biotherapeutics (NASDAQ:ARQT) Stock Price Up 9.6% – Still a Buy?

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT)’s stock price traded up 9.6% during trading on Friday . The company traded as high as $29.88 and last traded at $29.9610. 1,378,742 shares traded hands during mid-day trading, a decline of 36% from the average session volume of 2,159,315 shares. The stock had previously closed at $27.33.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Cowen reissued a “buy” rating on shares of Arcutis Biotherapeutics in a report on Thursday, August 7th. Wall Street Zen upgraded Arcutis Biotherapeutics from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 1st. Needham & Company LLC raised their price objective on Arcutis Biotherapeutics from $22.00 to $30.00 and gave the stock a “buy” rating in a research note on Tuesday, October 28th. 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, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Arcutis Biotherapeutics in a report on Tuesday, October 14th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Arcutis Biotherapeutics presently has an average rating of “Moderate Buy” and an average target price of $28.00.

Arcutis Biotherapeutics Trading Up 9.4%

The firm’s 50-day simple moving average is $21.34 and its 200 day simple moving average is $16.99. The stock has a market cap of $3.66 billion, a P/E ratio of -83.09 and a beta of 1.97. The company has a current ratio of 3.50, a quick ratio of 3.28 and a debt-to-equity ratio of 0.68.

Arcutis Biotherapeutics (NASDAQ:ARQT) last released its quarterly earnings results on Tuesday, October 28th. The company reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.16. Arcutis Biotherapeutics had a negative return on equity of 29.69% and a negative net margin of 13.94%.The company had revenue of $99.22 million for the quarter, compared to analysts’ expectations of $86.69 million. As a group, equities research analysts anticipate that Arcutis Biotherapeutics, Inc. will post -1.33 earnings per share for the current year.

Insider Activity

In other Arcutis Biotherapeutics news, insider Patrick Burnett sold 17,250 shares of the business’s stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $24.18, for a total transaction of $417,105.00. Following the completion of the transaction, the insider owned 98,325 shares in the company, valued at approximately $2,377,498.50. The trade was a 14.93% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Howard G. Welgus sold 10,000 shares of the stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $25.27, for a total value of $252,700.00. Following the completion of the transaction, the director directly owned 89,744 shares of the company’s stock, valued at approximately $2,267,830.88. The trade was a 10.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 277,977 shares of company stock worth $6,047,851 over the last ninety days. 9.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ARQT. Focus Partners Wealth increased its stake in shares of Arcutis Biotherapeutics by 0.8% during the third quarter. Focus Partners Wealth now owns 65,196 shares of the company’s stock valued at $1,237,000 after acquiring an additional 490 shares during the period. Arizona State Retirement System boosted its stake in Arcutis Biotherapeutics by 1.8% during the 3rd quarter. Arizona State Retirement System now owns 31,685 shares of the company’s stock valued at $597,000 after purchasing an additional 568 shares in the last quarter. AlphaQuest LLC boosted its stake in Arcutis Biotherapeutics by 5.7% during the 3rd quarter. AlphaQuest LLC now owns 12,603 shares of the company’s stock valued at $238,000 after purchasing an additional 682 shares in the last quarter. PNC Financial Services Group Inc. increased its position in shares of Arcutis Biotherapeutics by 10.2% during the 2nd quarter. PNC Financial Services Group Inc. now owns 8,828 shares of the company’s stock valued at $124,000 after purchasing an additional 820 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised 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 worth $464,000 after buying an additional 917 shares in 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.