Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Director Patrick J. Heron Buys 1,890 Shares of Stock

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Director Patrick J. Heron purchased 1,890 shares of the stock in a transaction dated Wednesday, June 4th. The shares were bought at an average price of $13.32 per share, for a total transaction of $25,174.80. Following the completion of the acquisition, the director now owns 24,424 shares in the company, valued at $325,327.68. This represents a 8.39% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Arcutis Biotherapeutics Stock Up 6.4%

ARQT stock opened at $14.37 on Friday. The company has a current ratio of 2.46, a quick ratio of 2.38 and a debt-to-equity ratio of 0.67. Arcutis Biotherapeutics, Inc. has a 1 year low of $6.99 and a 1 year high of $17.75. The company has a fifty day simple moving average of $14.02 and a 200 day simple moving average of $13.82. The firm has a market cap of $1.71 billion, a PE ratio of -8.03 and a beta of 1.76.

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

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Jefferies Financial Group boosted their price target 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. Needham & Company LLC restated a “buy” rating and set a $20.00 price target on shares of Arcutis Biotherapeutics in a report on Friday, May 23rd. The Goldman Sachs Group boosted their price target on shares of Arcutis Biotherapeutics from $13.00 to $15.00 and gave the company a “neutral” rating in a report on Thursday, February 27th. HC Wainwright restated a “buy” rating and set a $19.00 price target on shares of Arcutis Biotherapeutics in a report on Thursday, April 3rd. Finally, Mizuho boosted their price target on shares of Arcutis Biotherapeutics from $20.00 to $21.00 and gave the company an “outperform” rating in a report on Wednesday, February 26th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $18.80.

Institutional Investors Weigh In On Arcutis Biotherapeutics

Institutional investors and hedge funds have recently modified their holdings of the business. GF Fund Management CO. LTD. acquired a new stake in shares of Arcutis Biotherapeutics in the 4th quarter valued at $34,000. Venturi Wealth Management LLC acquired a new position in Arcutis Biotherapeutics during the 4th quarter worth $46,000. Amalgamated Bank lifted its position in Arcutis Biotherapeutics by 39.4% during the 1st quarter. Amalgamated Bank now owns 3,723 shares of the company’s stock worth $58,000 after acquiring an additional 1,053 shares during the last quarter. KBC Group NV acquired a new position in Arcutis Biotherapeutics during the 1st quarter worth $84,000. Finally, Nkcfo LLC acquired a new position in Arcutis Biotherapeutics during the 1st quarter worth $109,000.

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.