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

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) has been assigned a consensus rating of “Moderate Buy” from the six ratings firms that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $18.80.

Several research firms recently weighed in on ARQT. Guggenheim restated a “buy” rating on shares of Arcutis Biotherapeutics in a report on Thursday, April 3rd. Jefferies Financial Group lifted their price objective on shares of Arcutis Biotherapeutics from $16.00 to $19.00 and gave the stock a “buy” rating in a research report on Tuesday, March 11th. Needham & Company LLC reissued a “buy” rating and issued a $20.00 price target on shares of Arcutis Biotherapeutics in a research report on Friday, May 23rd. The Goldman Sachs Group boosted their price objective on shares of Arcutis Biotherapeutics from $13.00 to $15.00 and gave the company a “neutral” rating in a research note on Thursday, February 27th. Finally, Mizuho boosted their price objective 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.

Insider Activity at Arcutis Biotherapeutics

In related news, insider Masaru Matsuda sold 5,030 shares of the stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $15.20, for a total transaction of $76,456.00. Following the sale, the insider now directly owns 204,399 shares of the company’s stock, valued at approximately $3,106,864.80. This represents a 2.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Todd Franklin Watanabe sold 1,500 shares of the stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $17.52, for a total transaction of $26,280.00. Following the sale, the insider now directly owns 927,414 shares in the company, valued at $16,248,293.28. This trade represents a 0.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders bought 7,434 shares of company stock worth $99,277 and sold 19,652 shares worth $284,982. 9.40% of the stock is currently owned by company insiders.

Institutional Trading of Arcutis Biotherapeutics

Several institutional investors have recently bought and sold shares of the company. Suvretta Capital Management LLC grew its position in Arcutis Biotherapeutics by 6.3% during 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 last quarter. Polar Capital Holdings Plc boosted its holdings in shares of 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 acquiring an additional 493,009 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Arcutis Biotherapeutics by 5.9% in the first quarter. Vanguard Group Inc. now owns 6,818,078 shares of the company’s stock worth $106,635,000 after buying an additional 377,363 shares during the last quarter. Gilder Gagnon Howe & Co. LLC boosted its holdings in shares of Arcutis Biotherapeutics by 9.8% in 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. Finally, D. E. Shaw & Co. Inc. boosted its holdings in shares of Arcutis Biotherapeutics by 44.0% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 2,513,577 shares of the company’s stock worth $35,014,000 after buying an additional 768,553 shares during the last quarter.

Arcutis Biotherapeutics Price Performance

Shares of NASDAQ ARQT opened at $13.67 on Friday. Arcutis Biotherapeutics has a twelve month low of $7.86 and a twelve month high of $17.75. The firm has a fifty day simple moving average of $13.85 and a 200 day simple moving average of $13.96. The company has a market capitalization of $1.63 billion, a PE ratio of -13.14 and a beta of 1.76. The company has a quick ratio of 3.37, a current ratio of 3.55 and a debt-to-equity ratio of 0.75.

Arcutis Biotherapeutics (NASDAQ:ARQT) last posted its quarterly earnings results on Tuesday, May 6th. The company reported ($0.20) EPS for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.01. The business had revenue of $65.85 million during the quarter, compared to analysts’ expectations of $64.80 million. Arcutis Biotherapeutics had a negative net margin of 60.95% and a negative return on equity of 80.66%. On average, sell-side analysts forecast that Arcutis Biotherapeutics will post -1.33 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.