Arcutis Biotherapeutics (NASDAQ:ARQT) Stock Price Down 4.2%

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) shares fell 4.2% during mid-day trading on Thursday . The company traded as low as $9.81 and last traded at $9.82. 134,132 shares changed hands during mid-day trading, a decline of 97% from the average session volume of 4,744,550 shares. The stock had previously closed at $10.25.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ARQT. Mizuho reaffirmed a “buy” rating and issued a $16.00 target price (up from $8.00) on shares of Arcutis Biotherapeutics in a research note on Friday, February 23rd. The Goldman Sachs Group increased their price target on Arcutis Biotherapeutics from $6.00 to $11.00 and gave the stock a “neutral” rating in a report on Wednesday, February 28th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $16.00 price target on shares of Arcutis Biotherapeutics in a report on Friday, April 12th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Arcutis Biotherapeutics has an average rating of “Moderate Buy” and a consensus price target of $26.56.

Arcutis Biotherapeutics Stock Down 5.4 %

The business has a fifty day moving average of $9.94 and a 200 day moving average of $5.58. The company has a market capitalization of $939.06 million, a PE ratio of -2.45 and a beta of 1.14. The company has a current ratio of 7.08, a quick ratio of 6.80 and a debt-to-equity ratio of 2.28.

Arcutis Biotherapeutics (NASDAQ:ARQT) last announced its earnings results on Tuesday, February 27th. The company reported ($0.72) EPS for the quarter, missing analysts’ consensus estimates of ($0.64) by ($0.08). Arcutis Biotherapeutics had a negative net margin of 439.79% and a negative return on equity of 294.85%. The firm had revenue of $13.53 million for the quarter, compared to analysts’ expectations of $11.78 million. During the same quarter last year, the business earned ($1.18) earnings per share. Equities research analysts anticipate that Arcutis Biotherapeutics, Inc. will post -2.49 EPS for the current year.

Insider Activity

In other news, insider Masaru Matsuda sold 3,760 shares of Arcutis Biotherapeutics stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $11.12, for a total value of $41,811.20. Following the completion of the transaction, the insider now owns 190,424 shares in the company, valued at approximately $2,117,514.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 20.70% of the company’s stock.

Hedge Funds Weigh In On Arcutis Biotherapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in ARQT. Swiss National Bank boosted its stake in shares of Arcutis Biotherapeutics by 7.8% in the 1st quarter. Swiss National Bank now owns 59,500 shares of the company’s stock valued at $1,146,000 after buying an additional 4,300 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Arcutis Biotherapeutics by 20.8% in the 1st quarter. JPMorgan Chase & Co. now owns 27,022 shares of the company’s stock valued at $520,000 after buying an additional 4,646 shares during the period. MetLife Investment Management LLC boosted its stake in shares of Arcutis Biotherapeutics by 58.5% in the 1st quarter. MetLife Investment Management LLC now owns 16,718 shares of the company’s stock valued at $322,000 after buying an additional 6,170 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Arcutis Biotherapeutics by 83.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 227,383 shares of the company’s stock valued at $4,378,000 after buying an additional 103,477 shares during the period. Finally, Vanguard Group Inc. raised its position in shares of Arcutis Biotherapeutics by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 1,531,098 shares of the company’s stock worth $29,489,000 after acquiring an additional 16,770 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.