Arcutis Biotherapeutics’ (ARQT) “Buy” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Arcutis Biotherapeutics (NASDAQ:ARQT) in a research note released on Thursday morning,Benzinga reports. They currently have a $18.00 price objective on the stock.

Separately, Jefferies Financial Group began coverage on Arcutis Biotherapeutics in a report on Wednesday, August 28th. They set a “buy” rating and a $15.00 price target for the company. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Arcutis Biotherapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $14.40.

Arcutis Biotherapeutics Stock Up 4.0 %

NASDAQ ARQT opened at $10.82 on Thursday. Arcutis Biotherapeutics has a 12 month low of $1.76 and a 12 month high of $13.17. The company has a current ratio of 8.46, a quick ratio of 8.19 and a debt-to-equity ratio of 1.09. The stock has a market cap of $1.26 billion, a PE ratio of -6.04 and a beta of 1.18. The stock’s 50 day moving average is $9.67 and its 200 day moving average is $9.31.

Arcutis Biotherapeutics (NASDAQ:ARQT) last released its earnings results on Wednesday, November 6th. The company reported ($0.33) EPS for the quarter, topping the consensus estimate of ($0.42) by $0.09. The firm had revenue of $44.76 million for the quarter, compared to the consensus estimate of $38.05 million. Arcutis Biotherapeutics had a negative net margin of 140.97% and a negative return on equity of 117.31%. Research analysts predict that Arcutis Biotherapeutics will post -1.6 EPS for the current fiscal year.

Insider Activity

In related news, Director Howard G. Welgus sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $10.77, for a total transaction of $107,700.00. Following the completion of the sale, the director now directly owns 191,944 shares of the company’s stock, valued at approximately $2,067,236.88. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Arcutis Biotherapeutics news, insider Masaru Matsuda sold 5,015 shares of the stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $8.68, for a total transaction of $43,530.20. Following the transaction, the insider now directly owns 178,273 shares in the company, valued at $1,547,409.64. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Howard G. Welgus sold 10,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $10.77, for a total transaction of $107,700.00. Following the completion of the sale, the director now owns 191,944 shares of the company’s stock, valued at approximately $2,067,236.88. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 52,094 shares of company stock valued at $492,157. 9.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Arcutis Biotherapeutics

Several institutional investors have recently bought and sold shares of ARQT. CWM LLC boosted its position in Arcutis Biotherapeutics by 6,740.0% during the 2nd quarter. CWM LLC now owns 4,104 shares of the company’s stock valued at $38,000 after acquiring an additional 4,044 shares in the last quarter. Ameritas Investment Partners Inc. lifted its stake in shares of Arcutis Biotherapeutics by 55.2% during the 1st quarter. Ameritas Investment Partners Inc. now owns 7,871 shares of the company’s stock worth $78,000 after purchasing an additional 2,800 shares during the last quarter. Algert Global LLC bought a new stake in Arcutis Biotherapeutics during the second quarter valued at about $97,000. Victory Capital Management Inc. grew its stake in Arcutis Biotherapeutics by 9.9% in the third quarter. Victory Capital Management Inc. now owns 12,843 shares of the company’s stock valued at $119,000 after purchasing an additional 1,155 shares during the last quarter. Finally, Creative Planning bought a new position in Arcutis Biotherapeutics in the third quarter worth about $127,000.

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.