Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Given Consensus Rating of “Moderate Buy” by Brokerages

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) has been given an average rating of “Moderate Buy” by the six analysts that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $18.00.

ARQT has been the topic of several analyst reports. Needham & Company LLC restated a “buy” rating and issued a $20.00 price objective on shares of Arcutis Biotherapeutics in a report on Wednesday, February 26th. The Goldman Sachs Group increased their price target on Arcutis Biotherapeutics from $13.00 to $15.00 and gave the company a “neutral” rating in a research note on Thursday, February 27th. Mizuho lifted their price objective on Arcutis Biotherapeutics from $20.00 to $21.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 26th. Guggenheim reiterated a “buy” rating on shares of Arcutis Biotherapeutics in a report on Monday, February 24th. Finally, HC Wainwright restated a “buy” rating and set a $19.00 target price on shares of Arcutis Biotherapeutics in a report on Wednesday, February 26th.

Insider Activity at Arcutis Biotherapeutics

In related news, insider Todd Franklin Watanabe sold 15,000 shares of the stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $15.17, for a total transaction of $227,550.00. Following the completion of the sale, the insider now directly owns 823,430 shares of the company’s stock, valued at approximately $12,491,433.10. This represents a 1.79 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Howard G. Welgus sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $13.00, for a total transaction of $130,000.00. Following the sale, the director now owns 131,944 shares in the company, valued at $1,715,272. This trade represents a 7.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 57,848 shares of company stock worth $797,648 in the last quarter. Corporate insiders own 9.50% of the company’s stock.

Hedge Funds Weigh In On Arcutis Biotherapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ARQT. Point72 Asset Management L.P. lifted its holdings in shares of Arcutis Biotherapeutics by 617.5% in the fourth quarter. Point72 Asset Management L.P. now owns 1,753,522 shares of the company’s stock valued at $24,427,000 after purchasing an additional 1,509,136 shares in the last quarter. Cercano Management LLC acquired a new stake in Arcutis Biotherapeutics in the 4th quarter valued at approximately $17,487,000. Millennium Management LLC lifted its stake in Arcutis Biotherapeutics by 101.3% in the 4th quarter. Millennium Management LLC now owns 2,310,163 shares of the company’s stock valued at $32,181,000 after acquiring an additional 1,162,690 shares in the last quarter. Rubric Capital Management LP boosted its position 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 worth $101,990,000 after acquiring an additional 1,150,000 shares during the last quarter. Finally, Driehaus Capital Management LLC bought a new position in shares of Arcutis Biotherapeutics during the 4th quarter worth approximately $15,278,000.

Arcutis Biotherapeutics Trading Down 1.9 %

ARQT stock opened at $14.50 on Friday. The company has a quick ratio of 2.38, a current ratio of 2.46 and a debt-to-equity ratio of 0.67. Arcutis Biotherapeutics has a twelve month low of $6.99 and a twelve month high of $16.20. The company has a market cap of $1.72 billion, a P/E ratio of -8.10 and a beta of 1.48. The business has a fifty day moving average of $13.45 and a 200-day moving average of $11.57.

Arcutis Biotherapeutics (NASDAQ:ARQT) last announced its quarterly earnings data on Tuesday, February 25th. The company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.28) by $0.19. The firm had revenue of $71.36 million during the quarter, compared to analysts’ expectations of $60.52 million. Arcutis Biotherapeutics had a negative return on equity of 119.11% and a negative net margin of 140.97%. As a group, equities research analysts expect that Arcutis Biotherapeutics will post -1.33 EPS for the current year.

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.