Arcutis Biotherapeutics’ (ARQT) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Arcutis Biotherapeutics (NASDAQ:ARQT) in a research report sent to investors on Monday morning,Benzinga reports. The firm currently has a $19.00 price objective on the stock.

Several other equities analysts have also recently issued reports on ARQT. Mizuho upped their target price on shares of Arcutis Biotherapeutics from $19.00 to $20.00 and gave the company an “outperform” rating in a research note on Tuesday, January 7th. Needham & Company LLC reiterated a “buy” rating and issued a $18.00 price objective on shares of Arcutis Biotherapeutics in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $16.60.

Arcutis Biotherapeutics Price Performance

ARQT opened at $13.63 on Monday. 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 stock has a market capitalization of $1.60 billion, a P/E ratio of -7.61 and a beta of 1.30. The company’s 50-day simple moving average is $12.50 and its two-hundred day simple moving average is $10.68. Arcutis Biotherapeutics has a 52-week low of $3.11 and a 52-week high of $16.20.

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

Insider Transactions at Arcutis Biotherapeutics

In other Arcutis Biotherapeutics news, Director Howard G. Welgus sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $8.65, for a total transaction of $86,500.00. Following the sale, the director now owns 171,944 shares in the company, valued at approximately $1,487,315.60. This trade represents a 5.50 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Masaru Matsuda sold 5,015 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $8.68, for a total transaction of $43,530.20. Following the sale, the insider now owns 178,273 shares in the company, valued at approximately $1,547,409.64. The trade was a 2.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 78,291 shares of company stock worth $927,966 in the last quarter. Company insiders own 9.50% of the company’s stock.

Institutional Investors Weigh In On Arcutis Biotherapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Jennison Associates LLC grew its holdings in Arcutis Biotherapeutics by 0.8% during the 3rd quarter. Jennison Associates LLC now owns 11,663,497 shares of the company’s stock valued at $108,471,000 after buying an additional 91,803 shares in the last quarter. Rubric Capital Management LP grew its holdings in Arcutis Biotherapeutics by 11.7% during the 3rd quarter. Rubric Capital Management LP now owns 10,966,672 shares of the company’s stock valued at $101,990,000 after buying an additional 1,150,000 shares in the last quarter. Suvretta Capital Management LLC grew its holdings in Arcutis Biotherapeutics by 7.2% during the 3rd quarter. Suvretta Capital Management LLC now owns 10,721,511 shares of the company’s stock valued at $99,710,000 after buying an additional 717,019 shares in the last quarter. State Street Corp grew its holdings in shares of Arcutis Biotherapeutics by 9.9% in the third quarter. State Street Corp now owns 5,641,631 shares of the company’s stock valued at $52,467,000 after purchasing an additional 506,788 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Arcutis Biotherapeutics by 2.0% in the third quarter. Geode Capital Management LLC now owns 2,470,138 shares of the company’s stock valued at $22,977,000 after purchasing an additional 48,868 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.