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

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) has been given an average rating of “Moderate Buy” by the eight brokerages that are covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $26.56.

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

Insider Buying and Selling

In related news, insider Masaru Matsuda sold 3,760 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now owns 190,424 shares in the company, valued at $2,117,514.88. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 20.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Arcutis Biotherapeutics

A number of large investors have recently bought and sold shares of the stock. Amalgamated Bank raised its stake in Arcutis Biotherapeutics by 48.9% during the fourth quarter. Amalgamated Bank now owns 11,078 shares of the company’s stock worth $36,000 after purchasing an additional 3,639 shares during the period. Deutsche Bank AG raised its stake in shares of Arcutis Biotherapeutics by 13.7% in the 3rd quarter. Deutsche Bank AG now owns 30,362 shares of the company’s stock valued at $161,000 after acquiring an additional 3,655 shares during the period. Hennion & Walsh Asset Management Inc. raised its stake in shares of Arcutis Biotherapeutics by 14.4% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 48,997 shares of the company’s stock valued at $486,000 after acquiring an additional 6,155 shares during the period. China Universal Asset Management Co. Ltd. raised its stake in shares of Arcutis Biotherapeutics by 70.5% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 18,614 shares of the company’s stock valued at $184,000 after acquiring an additional 7,694 shares during the period. Finally, Cape Investment Advisory Inc. purchased a new position in shares of Arcutis Biotherapeutics in the 4th quarter valued at $26,000.

Arcutis Biotherapeutics Trading Down 7.0 %

NASDAQ ARQT opened at $8.00 on Tuesday. Arcutis Biotherapeutics has a 52-week low of $1.76 and a 52-week high of $15.21. 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 stock has a market capitalization of $924.24 million, a P/E ratio of -2.04 and a beta of 1.18. The firm has a 50-day moving average price of $10.07 and a 200 day moving average price of $5.95.

Arcutis Biotherapeutics (NASDAQ:ARQT) last issued its earnings results on Tuesday, February 27th. The company reported ($0.72) earnings per share (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 company had revenue of $13.53 million during the quarter, compared to analysts’ expectations of $11.78 million. During the same period last year, the business posted ($1.18) earnings per share. Equities research analysts expect that Arcutis Biotherapeutics will post -2.21 EPS for the current 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.