Arcutis Biotherapeutics (NASDAQ:ARQT) Trading 5.8% Higher

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) shot up 5.8% during trading on Tuesday . The company traded as high as $10.80 and last traded at $10.75. 976,785 shares were traded during trading, a decline of 72% from the average session volume of 3,507,957 shares. The stock had previously closed at $10.16.

Analyst Ratings Changes

A number of brokerages have recently commented on ARQT. Needham & Company LLC reiterated a “buy” rating and set a $18.00 price target on shares of Arcutis Biotherapeutics in a report on Thursday, August 15th. Jefferies Financial Group began coverage on shares of Arcutis Biotherapeutics in a report on Wednesday, August 28th. They set a “buy” rating and a $15.00 price target for the company. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Arcutis Biotherapeutics has an average rating of “Moderate Buy” and a consensus price target of $13.33.

Arcutis Biotherapeutics Price Performance

The company’s 50-day moving average is $9.93 and its 200-day moving average is $9.57. The company has a debt-to-equity ratio of 1.09, a current ratio of 8.46 and a quick ratio of 8.19. The firm has a market capitalization of $1.17 billion, a price-to-earnings ratio of -3.81 and a beta of 1.18.

Arcutis Biotherapeutics (NASDAQ:ARQT) last issued its earnings results on Wednesday, August 14th. The company reported ($0.42) earnings per share for the quarter, topping the consensus estimate of ($0.48) by $0.06. The company had revenue of $30.86 million during the quarter, compared to the consensus estimate of $31.00 million. Arcutis Biotherapeutics had a negative return on equity of 145.41% and a negative net margin of 150.51%. During the same quarter in the prior year, the business earned ($1.16) earnings per share. On average, research analysts expect that Arcutis Biotherapeutics, Inc. will post -1.56 earnings per share for the current year.

Insider Activity

In other news, Director Howard G. Welgus sold 10,000 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $9.31, for a total value of $93,100.00. Following the completion of the transaction, the director now directly owns 180,339 shares in the company, valued at $1,678,956.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Howard G. Welgus sold 10,000 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $9.31, for a total value of $93,100.00. Following the transaction, the director now owns 180,339 shares in the company, valued at $1,678,956.09. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Masaru Matsuda sold 5,220 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $9.02, for a total value of $47,084.40. Following the sale, the insider now owns 183,288 shares of the company’s stock, valued at approximately $1,653,257.76. The disclosure for this sale can be found here. Insiders have sold 36,948 shares of company stock worth $360,910 over the last 90 days. Company insiders own 9.50% of the company’s stock.

Institutional Trading of Arcutis Biotherapeutics

Institutional investors have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD increased its position in shares of Arcutis Biotherapeutics by 3.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 47,753 shares of the company’s stock worth $474,000 after purchasing an additional 1,681 shares during the last quarter. ProShare Advisors LLC increased its holdings in Arcutis Biotherapeutics by 9.8% in the first quarter. ProShare Advisors LLC now owns 20,990 shares of the company’s stock valued at $208,000 after buying an additional 1,870 shares during the last quarter. Ameritas Investment Partners Inc. raised its stake in Arcutis Biotherapeutics by 55.2% during the first quarter. Ameritas Investment Partners Inc. now owns 7,871 shares of the company’s stock valued at $78,000 after buying an additional 2,800 shares in the last quarter. Amalgamated Bank lifted its holdings in Arcutis Biotherapeutics by 48.9% during the 4th quarter. Amalgamated Bank now owns 11,078 shares of the company’s stock worth $36,000 after buying an additional 3,639 shares during the last quarter. Finally, CWM LLC grew its position in shares of Arcutis Biotherapeutics by 6,740.0% in the 2nd quarter. CWM LLC now owns 4,104 shares of the company’s stock worth $38,000 after acquiring an additional 4,044 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.