Arcutis Biotherapeutics (NASDAQ:ARQT) Receives “Buy” Rating from Guggenheim

Arcutis Biotherapeutics (NASDAQ:ARQT)‘s stock had its “buy” rating reiterated by analysts at Guggenheim in a research report issued to clients and investors on Monday,Benzinga reports.

A number of other analysts have also weighed in on the stock. Mizuho upped their price target on shares of Arcutis Biotherapeutics from $19.00 to $20.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 7th. HC Wainwright reissued a “buy” rating and set a $19.00 target price on shares of Arcutis Biotherapeutics in a report on Monday, January 13th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $18.00 price target on shares of Arcutis Biotherapeutics in a research note on Thursday, November 7th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $16.60.

Arcutis Biotherapeutics Stock Performance

Shares of NASDAQ:ARQT traded down $0.32 on Monday, hitting $12.70. The company’s stock had a trading volume of 134,232 shares, compared to its average volume of 2,087,621. Arcutis Biotherapeutics has a 12 month low of $6.99 and a 12 month high of $16.20. The stock’s 50-day moving average is $13.66 and its two-hundred day moving average is $11.36. 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 $1.49 billion, a price-to-earnings ratio of -7.16 and a beta of 1.29.

Insider Activity

In related news, Director Howard G. Welgus sold 10,000 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $14.67, for a total transaction of $146,700.00. Following the completion of the transaction, the director now owns 151,944 shares in the company, valued at approximately $2,229,018.48. This represents a 6.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Todd Franklin Watanabe sold 15,000 shares of Arcutis Biotherapeutics stock in a transaction on Friday, December 20th. The shares were 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 owns 823,430 shares in the company, valued at approximately $12,491,433.10. This represents a 1.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 55,029 shares of company stock valued at $756,017 in the last ninety days. Corporate insiders own 9.50% of the company’s stock.

Institutional Investors Weigh In On Arcutis Biotherapeutics

Several large investors have recently made changes to their positions in the company. Point72 DIFC Ltd purchased a new position in Arcutis Biotherapeutics during the 3rd quarter valued at approximately $25,000. GF Fund Management CO. LTD. bought a new position in shares of Arcutis Biotherapeutics during the 4th quarter valued at approximately $34,000. Venturi Wealth Management LLC purchased a new position in shares of Arcutis Biotherapeutics in the fourth quarter valued at $46,000. Erste Asset Management GmbH bought a new stake in Arcutis Biotherapeutics in the third quarter worth $104,000. Finally, Victory Capital Management Inc. raised its stake in Arcutis Biotherapeutics by 9.9% during 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 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.