Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) have been assigned a consensus rating of “Moderate Buy” from the eight analysts that are covering the company, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $26.56.

A number of analysts have weighed in on ARQT shares. The Goldman Sachs Group boosted their target price on shares of Arcutis Biotherapeutics from $6.00 to $11.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 28th. Needham & Company LLC reiterated a “buy” rating and issued a $16.00 target price on shares of Arcutis Biotherapeutics in a research report on Friday, April 12th. Finally, Mizuho restated a “buy” rating and set a $16.00 price target (up from $8.00) on shares of Arcutis Biotherapeutics in a report on Friday, February 23rd.

Insider Transactions at Arcutis Biotherapeutics

In other news, insider Masaru Matsuda sold 3,760 shares of the stock in a transaction on Monday, March 4th. The shares were sold at an average price of $11.12, for a total transaction of $41,811.20. Following the completion of the sale, the insider now directly owns 190,424 shares in the company, valued at $2,117,514.88. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 20.70% of the company’s stock.

Institutional Investors Weigh In On Arcutis Biotherapeutics

Large investors have recently added to or reduced their stakes in the business. DekaBank Deutsche Girozentrale purchased a new stake in shares of Arcutis Biotherapeutics in the fourth quarter valued at about $462,000. Fox Run Management L.L.C. bought a new position in shares of Arcutis Biotherapeutics during the 3rd quarter worth approximately $60,000. China Universal Asset Management Co. Ltd. boosted its stake in shares of Arcutis Biotherapeutics by 586.8% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 10,920 shares of the company’s stock worth $35,000 after buying an additional 9,330 shares during the last quarter. Trexquant Investment LP purchased a new stake in shares of Arcutis Biotherapeutics during the third quarter valued at approximately $311,000. Finally, Federated Hermes Inc. lifted its holdings in Arcutis Biotherapeutics by 769.1% during the fourth quarter. Federated Hermes Inc. now owns 521,469 shares of the company’s stock worth $1,684,000 after acquiring an additional 461,469 shares during the period.

Arcutis Biotherapeutics Stock Down 0.6 %

ARQT stock opened at $7.95 on Tuesday. The business has a 50-day simple moving average of $10.03 and a 200 day simple moving average of $6.00. Arcutis Biotherapeutics has a 52 week low of $1.76 and a 52 week high of $15.12. The company has a quick ratio of 6.80, a current ratio of 7.08 and a debt-to-equity ratio of 2.28. The company has a market cap of $918.46 million, a PE ratio of -2.03 and a beta of 1.18.

Arcutis Biotherapeutics (NASDAQ:ARQT) last announced its quarterly earnings data on Tuesday, February 27th. The company reported ($0.72) earnings per share for the quarter, missing the consensus estimate of ($0.64) by ($0.08). The business had revenue of $13.53 million for the quarter, compared to the consensus estimate of $11.78 million. Arcutis Biotherapeutics had a negative return on equity of 294.85% and a negative net margin of 439.79%. During the same quarter in the prior year, the company earned ($1.18) earnings per share. Sell-side analysts anticipate that Arcutis Biotherapeutics will post -2.21 EPS for the current fiscal 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.