Arcutis Biotherapeutics (NASDAQ:ARQT) Stock Price Up 4.1% – What’s Next?

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) rose 4.1% on Monday . The company traded as high as $13.32 and last traded at $13.54. Approximately 167,754 shares changed hands during mid-day trading, a decline of 93% from the average daily volume of 2,383,920 shares. The stock had previously closed at $13.01.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Mizuho increased their price target on shares of Arcutis Biotherapeutics from $20.00 to $21.00 and gave the company an “outperform” rating in a research note on Wednesday, February 26th. Guggenheim reissued a “buy” rating on shares of Arcutis Biotherapeutics in a research note on Thursday, April 3rd. Jefferies Financial Group boosted 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. The Goldman Sachs Group raised their price target on Arcutis Biotherapeutics from $13.00 to $15.00 and gave the company a “neutral” rating in a report on Thursday, February 27th. Finally, HC Wainwright reissued a “buy” rating and set a $19.00 price objective on shares of Arcutis Biotherapeutics in a report on Thursday, April 3rd. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.80.

Arcutis Biotherapeutics Price Performance

The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.38 and a current ratio of 2.46. The company has a 50-day moving average price of $14.37 and a 200-day moving average price of $12.77. The firm has a market capitalization of $1.64 billion, a P/E ratio of -7.73 and a beta of 1.67.

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

Insider Buying and Selling

In related news, Director Howard G. Welgus sold 10,000 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $12.71, for a total value of $127,100.00. Following the completion of the sale, the director now owns 141,944 shares in the company, valued at $1,804,108.24. This represents a 6.58 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Masaru Matsuda sold 8,338 shares of Arcutis Biotherapeutics stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $12.70, for a total value of $105,892.60. Following the transaction, the insider now owns 178,692 shares in the company, valued at approximately $2,269,388.40. This represents a 4.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 46,099 shares of company stock valued at $631,256 in the last 90 days. 9.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Arcutis Biotherapeutics

Several large investors have recently modified their holdings of ARQT. Fishman Jay A Ltd. MI grew its position in shares of Arcutis Biotherapeutics by 28.3% in the 4th quarter. Fishman Jay A Ltd. MI now owns 536,400 shares of the company’s stock valued at $7,472,000 after purchasing an additional 118,400 shares during the period. Barclays PLC boosted its holdings 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 during the period. Geode Capital Management LLC increased its position in shares of Arcutis Biotherapeutics by 2.0% during the third quarter. Geode Capital Management LLC now owns 2,470,138 shares of the company’s stock worth $22,977,000 after acquiring an additional 48,868 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of Arcutis Biotherapeutics by 11.4% during the fourth quarter. American Century Companies Inc. now owns 1,631,226 shares of the company’s stock worth $22,723,000 after acquiring an additional 166,915 shares during the period. Finally, Jennison Associates LLC raised its holdings in shares of Arcutis Biotherapeutics by 5.8% during the fourth quarter. Jennison Associates LLC now owns 12,339,792 shares of the company’s stock worth $171,893,000 after acquiring an additional 676,295 shares during the period.

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.