Arcutis Biotherapeutics (NASDAQ:ARQT) Price Target Raised to $21.00

Arcutis Biotherapeutics (NASDAQ:ARQT) had its target price increased by Mizuho from $20.00 to $21.00 in a research report sent to investors on Wednesday morning,Benzinga reports. They currently have an outperform rating on the stock.

Other equities analysts have also issued research reports about the company. Needham & Company LLC reissued a “buy” rating and set a $20.00 price objective on shares of Arcutis Biotherapeutics in a research report on Wednesday. HC Wainwright reissued a “buy” rating and set a $19.00 price target on shares of Arcutis Biotherapeutics in a research report on Monday, January 13th. Finally, Guggenheim restated a “buy” rating on shares of Arcutis Biotherapeutics in a report on Monday, February 24th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $18.00.

Arcutis Biotherapeutics Stock Performance

Shares of ARQT opened at $13.69 on Wednesday. The company has a 50-day simple moving average of $13.56 and a two-hundred day simple moving average of $11.43. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.46 and a quick ratio of 2.38. The firm has a market capitalization of $1.60 billion, a PE ratio of -7.65 and a beta of 1.29. Arcutis Biotherapeutics has a one year low of $6.99 and a one year high of $16.20.

Arcutis Biotherapeutics (NASDAQ:ARQT) last announced its earnings results on Tuesday, February 25th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.28) by $0.19. Arcutis Biotherapeutics had a negative return on equity of 119.11% and a negative net margin of 140.97%. The firm had revenue of $71.36 million during the quarter, compared to analyst estimates of $60.52 million. On average, analysts anticipate that Arcutis Biotherapeutics will post -1.33 EPS for the current fiscal year.

Insider Activity at Arcutis Biotherapeutics

In other news, insider Masaru Matsuda sold 8,338 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $12.70, for a total transaction of $105,892.60. Following the sale, the insider now owns 178,692 shares in the company, valued at $2,269,388.40. This represents a 4.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Howard G. Welgus sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $12.51, for a total transaction of $125,100.00. Following the completion of the transaction, the director now owns 161,944 shares of the company’s stock, valued at approximately $2,025,919.44. The trade was a 5.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 55,029 shares of company stock valued at $756,017. 9.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Arcutis Biotherapeutics

Several large investors have recently bought and sold shares of the business. Point72 DIFC Ltd purchased a new stake in shares of Arcutis Biotherapeutics during the 3rd quarter valued at about $25,000. GF Fund Management CO. LTD. bought a new position in Arcutis Biotherapeutics during the fourth quarter valued at approximately $34,000. Venturi Wealth Management LLC purchased a new stake in Arcutis Biotherapeutics in the fourth quarter worth approximately $46,000. Erste Asset Management GmbH bought a new stake in Arcutis Biotherapeutics in the 3rd quarter worth approximately $104,000. Finally, Victory Capital Management Inc. raised its stake in Arcutis Biotherapeutics by 9.9% during the 3rd quarter. Victory Capital Management Inc. now owns 12,843 shares of the company’s stock valued at $119,000 after buying an additional 1,155 shares during the last quarter.

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.