Arcutis Biotherapeutics (NASDAQ:ARQT) Shares Up 4.7% – Should You Buy?

Shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) rose 4.7% on Tuesday . The company traded as high as $13.38 and last traded at $13.54. Approximately 264,459 shares were traded during mid-day trading, a decline of 89% from the average daily volume of 2,399,584 shares. The stock had previously closed at $12.94.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on ARQT. HC Wainwright reiterated a “buy” rating and issued a $19.00 target price on shares of Arcutis Biotherapeutics in a report on Thursday, April 3rd. Guggenheim reiterated a “buy” rating on shares of Arcutis Biotherapeutics in a report on Thursday, April 3rd. Mizuho boosted their price objective on shares of Arcutis Biotherapeutics from $20.00 to $21.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 26th. Needham & Company LLC restated a “buy” rating and issued a $20.00 price objective on shares of Arcutis Biotherapeutics in a research note on Wednesday, April 9th. Finally, Jefferies Financial Group lifted their target price on Arcutis Biotherapeutics from $16.00 to $19.00 and gave the stock a “buy” rating in a research report on Tuesday, March 11th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $18.80.

Arcutis Biotherapeutics Stock Up 1.0 %

The firm has a 50-day simple moving average of $14.23 and a 200 day simple moving average of $12.65. The company has a market capitalization of $1.55 billion, a PE ratio of -7.30 and a beta of 1.67. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.46 and a quick ratio of 2.38.

Arcutis Biotherapeutics (NASDAQ:ARQT) last released its earnings results 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 company had revenue of $71.36 million during the quarter, compared to the consensus estimate of $60.52 million. Arcutis Biotherapeutics had a negative net margin of 140.97% and a negative return on equity of 119.11%. On average, research analysts predict that Arcutis Biotherapeutics, Inc. will post -1.33 EPS for the current fiscal year.

Insider Transactions at Arcutis Biotherapeutics

In other news, insider Patrick Burnett sold 12,242 shares of the business’s stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $15.04, for a total transaction of $184,119.68. Following the sale, the insider now owns 121,936 shares in the company, valued at $1,833,917.44. The trade was a 9.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Todd Franklin Watanabe sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $17.52, for a total transaction of $26,280.00. Following the sale, the insider now owns 927,414 shares of the company’s stock, valued at approximately $16,248,293.28. This represents a 0.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 46,099 shares of company stock valued at $631,256. Corporate insiders own 9.50% of the company’s stock.

Hedge Funds Weigh In On Arcutis Biotherapeutics

A number of institutional investors have recently modified their holdings of the company. FMR LLC lifted its position in shares of Arcutis Biotherapeutics by 25.6% in the 3rd quarter. FMR LLC now owns 171,219 shares of the company’s stock worth $1,592,000 after acquiring an additional 34,884 shares during the period. State Street Corp grew its position in Arcutis Biotherapeutics by 9.9% during the 3rd quarter. State Street Corp now owns 5,641,631 shares of the company’s stock worth $52,467,000 after acquiring an additional 506,788 shares during the last quarter. Barclays PLC increased its stake in shares of Arcutis Biotherapeutics by 45.8% in the third quarter. Barclays PLC now owns 253,392 shares of the company’s stock valued at $2,356,000 after buying an additional 79,579 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Arcutis Biotherapeutics by 2.0% in the third quarter. Geode Capital Management LLC now owns 2,470,138 shares of the company’s stock valued at $22,977,000 after buying an additional 48,868 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of Arcutis Biotherapeutics by 0.9% during the third quarter. JPMorgan Chase & Co. now owns 1,296,911 shares of the company’s stock worth $12,061,000 after purchasing an additional 11,833 shares in 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.