Arcutis Biotherapeutics (NASDAQ:ARQT) Price Target Raised to $20.00 at Mizuho

Arcutis Biotherapeutics (NASDAQ:ARQT) had its target price lifted by Mizuho from $19.00 to $20.00 in a research report sent to investors on Tuesday morning,Benzinga reports. Mizuho currently has an outperform rating on the stock.

A number of other research analysts have also weighed in on ARQT. HC Wainwright initiated coverage on Arcutis Biotherapeutics in a report on Monday, December 30th. They set a “buy” rating and a $19.00 target price for the company. Needham & Company LLC reaffirmed a “buy” rating and set a $18.00 price objective on shares of Arcutis Biotherapeutics in a research note on Thursday, November 7th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $16.60.

Arcutis Biotherapeutics Price Performance

Shares of NASDAQ:ARQT opened at $15.76 on Tuesday. Arcutis Biotherapeutics has a fifty-two week low of $3.11 and a fifty-two week high of $16.20. The company’s 50-day moving average is $12.13 and its 200 day moving average is $10.56. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.38 and a current ratio of 2.46. The company has a market capitalization of $1.84 billion, a P/E ratio of -8.80 and a beta of 1.30.

Arcutis Biotherapeutics (NASDAQ:ARQT) last released its earnings results on Wednesday, November 6th. The company reported ($0.33) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.09. Arcutis Biotherapeutics had a negative net margin of 140.97% and a negative return on equity of 119.11%. The firm had revenue of $44.76 million for the quarter, compared to analysts’ expectations of $38.05 million. On average, equities research analysts forecast that Arcutis Biotherapeutics will post -1.34 earnings per share for the current year.

Insider Buying and Selling

In other Arcutis Biotherapeutics news, Director Terrie Curran sold 8,687 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $10.85, for a total value of $94,253.95. Following the completion of the sale, the director now owns 10,139 shares in the company, valued at approximately $110,008.15. This represents a 46.14 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Howard G. Welgus sold 10,000 shares of the company’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $8.65, for a total value of $86,500.00. Following the completion of the transaction, the director now directly owns 171,944 shares of the company’s stock, valued at approximately $1,487,315.60. This trade represents a 5.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 78,291 shares of company stock valued at $927,966 over the last ninety days. Company insiders own 9.50% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ARQT. Point72 DIFC Ltd bought a new stake in shares of Arcutis Biotherapeutics during the third quarter valued at approximately $25,000. Algert Global LLC bought a new stake in Arcutis Biotherapeutics in the 2nd quarter valued at $97,000. Erste Asset Management GmbH bought a new position in shares of Arcutis Biotherapeutics during the 3rd quarter valued at about $104,000. Victory Capital Management Inc. boosted its holdings in shares of Arcutis Biotherapeutics by 9.9% during the 3rd 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 purchased a new position in shares of Arcutis Biotherapeutics during the third quarter valued at about $127,000.

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.