Mizuho Issues Positive Forecast for Arcutis Biotherapeutics (NASDAQ:ARQT) Stock Price

Arcutis Biotherapeutics (NASDAQ:ARQT) had its price target boosted by Mizuho from $20.00 to $21.00 in a research report sent to investors on Wednesday,Benzinga reports. They currently have an outperform rating on the stock.

A number of other brokerages have also recently issued reports on ARQT. Needham & Company LLC reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Arcutis Biotherapeutics in a research note on Wednesday. Guggenheim restated a “buy” rating on shares of Arcutis Biotherapeutics in a research report on Monday. Finally, HC Wainwright reaffirmed a “buy” rating and set a $19.00 price objective on shares of Arcutis Biotherapeutics in a research note on Monday, January 13th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Arcutis Biotherapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.20.

Arcutis Biotherapeutics Price Performance

Arcutis Biotherapeutics stock opened at $13.22 on Wednesday. The business’s 50-day simple moving average is $13.58 and its 200 day simple moving average is $11.42. The company has a quick ratio of 2.38, a current ratio of 2.46 and a debt-to-equity ratio of 0.67. The stock has a market cap of $1.55 billion, a price-to-earnings ratio of -7.39 and a beta of 1.29. Arcutis Biotherapeutics has a 12-month low of $6.99 and a 12-month high of $16.20.

Arcutis Biotherapeutics (NASDAQ:ARQT) last released its earnings results on Tuesday, February 25th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating 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 company had revenue of $71.36 million for the quarter, compared to the consensus estimate of $60.52 million. As a group, research analysts anticipate that Arcutis Biotherapeutics will post -1.33 earnings per share for the current year.

Insider Transactions at Arcutis Biotherapeutics

In related news, Director Howard G. Welgus sold 10,000 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $12.51, for a total transaction of $125,100.00. Following the sale, the director now owns 161,944 shares of the company’s stock, valued at approximately $2,025,919.44. This trade represents a 5.82 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Todd Franklin Watanabe sold 15,000 shares of Arcutis Biotherapeutics stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $15.17, for a total value of $227,550.00. Following the transaction, the insider now owns 823,430 shares in the company, valued at approximately $12,491,433.10. This represents a 1.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 55,029 shares of company stock valued at $756,017 over the last three months. 9.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Arcutis Biotherapeutics

Several institutional investors and hedge funds have recently modified their holdings of ARQT. GF Fund Management CO. LTD. bought a new stake in Arcutis Biotherapeutics during the 4th quarter worth approximately $34,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Arcutis Biotherapeutics by 1.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 280,100 shares of the company’s stock worth $3,902,000 after acquiring an additional 3,409 shares in the last quarter. Voloridge Investment Management LLC raised its holdings in shares of Arcutis Biotherapeutics by 126.5% during the fourth quarter. Voloridge Investment Management LLC now owns 290,938 shares of the company’s stock worth $4,053,000 after acquiring an additional 162,495 shares during the period. Squarepoint Ops LLC lifted its position in Arcutis Biotherapeutics by 67.2% in the 4th quarter. Squarepoint Ops LLC now owns 121,392 shares of the company’s stock valued at $1,691,000 after acquiring an additional 48,769 shares in the last quarter. Finally, Suvretta Capital Management LLC lifted its position in Arcutis Biotherapeutics by 6.3% in the 4th quarter. Suvretta Capital Management LLC now owns 11,399,138 shares of the company’s stock valued at $158,790,000 after acquiring an additional 677,627 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.