Patrick J. Heron Purchases 2,520 Shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Stock

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Director Patrick J. Heron purchased 2,520 shares of Arcutis Biotherapeutics stock in a transaction on Wednesday, May 21st. The stock was bought at an average price of $13.66 per share, for a total transaction of $34,423.20. Following the transaction, the director now directly owns 20,014 shares in the company, valued at approximately $273,391.24. The trade was a 14.40% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Arcutis Biotherapeutics Price Performance

Arcutis Biotherapeutics stock opened at $13.98 on Friday. The stock’s 50 day moving average price is $14.56 and its two-hundred day moving average price is $13.60. The stock has a market capitalization of $1.67 billion, a price-to-earnings ratio of -7.81 and a beta of 1.87. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.38 and a current ratio of 2.46. Arcutis Biotherapeutics, Inc. has a 52-week low of $6.99 and a 52-week high of $17.75.

Arcutis Biotherapeutics (NASDAQ:ARQT) last announced its quarterly earnings data on Tuesday, May 6th. The company reported ($0.20) earnings per share for the quarter, beating the consensus estimate of ($0.21) by $0.01. The firm had revenue of $65.85 million for the quarter, compared to analyst estimates of $64.80 million. Arcutis Biotherapeutics had a negative net margin of 140.97% and a negative return on equity of 119.11%. On average, equities analysts predict that Arcutis Biotherapeutics, Inc. will post -1.33 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Jennison Associates LLC increased 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 valued at $171,893,000 after acquiring an additional 676,295 shares in the last quarter. Suvretta Capital Management LLC grew its position in Arcutis Biotherapeutics by 6.3% in the 4th quarter. Suvretta Capital Management LLC now owns 11,399,138 shares of the company’s stock valued at $158,790,000 after purchasing an additional 677,627 shares during the period. Polar Capital Holdings Plc increased its stake in Arcutis Biotherapeutics by 7.2% during the 4th quarter. Polar Capital Holdings Plc now owns 7,377,381 shares of the company’s stock valued at $102,767,000 after purchasing an additional 493,009 shares in the last quarter. Vanguard Group Inc. increased its stake in Arcutis Biotherapeutics by 5.9% during the 1st quarter. Vanguard Group Inc. now owns 6,818,078 shares of the company’s stock valued at $106,635,000 after purchasing an additional 377,363 shares in the last quarter. Finally, Gilder Gagnon Howe & Co. LLC raised its holdings in Arcutis Biotherapeutics by 9.8% during the fourth quarter. Gilder Gagnon Howe & Co. LLC now owns 3,902,991 shares of the company’s stock worth $54,369,000 after buying an additional 349,153 shares during the last quarter.

Analyst Ratings Changes

ARQT has been the topic of a number of recent analyst reports. Mizuho lifted their price objective on Arcutis Biotherapeutics from $20.00 to $21.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 26th. The Goldman Sachs Group boosted their price target on shares of Arcutis Biotherapeutics from $13.00 to $15.00 and gave the stock a “neutral” rating in a research report on Thursday, February 27th. Guggenheim reiterated a “buy” rating on shares of Arcutis Biotherapeutics in a research report on Thursday, April 3rd. Jefferies Financial Group boosted their target price on shares of Arcutis Biotherapeutics from $16.00 to $19.00 and gave the company a “buy” rating in a report on Tuesday, March 11th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $19.00 price target on shares of Arcutis Biotherapeutics in a research 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 company’s stock. Based on data from MarketBeat, Arcutis Biotherapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $18.80.

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.