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

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) has earned an average rating of “Moderate Buy” from the eight brokerages that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and six have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $19.80.

ARQT has been the topic of a number of recent analyst reports. Cowen reissued a “buy” rating on shares of Arcutis Biotherapeutics in a research report on Thursday, August 7th. The Goldman Sachs Group initiated coverage on Arcutis Biotherapeutics in a research report on Friday, July 25th. They set a “neutral” rating and a $18.00 price target on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of Arcutis Biotherapeutics in a research report on Tuesday, October 14th. Needham & Company LLC boosted their price target on Arcutis Biotherapeutics from $20.00 to $22.00 and gave the stock a “buy” rating in a research report on Thursday, August 7th. Finally, Wall Street Zen raised Arcutis Biotherapeutics from a “hold” rating to a “buy” rating in a research report on Saturday, August 9th.

Insider Transactions at Arcutis Biotherapeutics

In other news, Director Howard G. Welgus sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $15.64, for a total value of $156,400.00. Following the transaction, the director owned 100,206 shares of the company’s stock, valued at approximately $1,567,221.84. This represents a 9.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Masaru Matsuda sold 36,130 shares of the company’s stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $16.16, for a total value of $583,860.80. Following the completion of the transaction, the insider directly owned 161,234 shares in the company, valued at $2,605,541.44. The trade was a 18.31% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 154,386 shares of company stock worth $2,640,187 over the last three months. Company insiders own 9.40% of the company’s stock.

Hedge Funds Weigh In On Arcutis Biotherapeutics

Institutional investors and hedge funds have recently made changes to their positions in the company. Amalgamated Bank grew its position in shares of Arcutis Biotherapeutics by 39.4% in the first quarter. Amalgamated Bank now owns 3,723 shares of the company’s stock valued at $58,000 after purchasing an additional 1,053 shares during the last quarter. KBC Group NV acquired a new position in shares of Arcutis Biotherapeutics in the first quarter valued at approximately $84,000. Nkcfo LLC acquired a new position in shares of Arcutis Biotherapeutics in the first quarter valued at approximately $109,000. Allostery Investments LP bought a new stake in shares of Arcutis Biotherapeutics in the first quarter valued at approximately $117,000. Finally, PNC Financial Services Group Inc. grew its position in Arcutis Biotherapeutics by 10.2% during the second quarter. PNC Financial Services Group Inc. now owns 8,828 shares of the company’s stock worth $124,000 after buying an additional 820 shares in the last quarter.

Arcutis Biotherapeutics Price Performance

NASDAQ:ARQT opened at $19.81 on Friday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 3.04 and a current ratio of 3.20. The stock’s 50-day simple moving average is $17.97 and its 200 day simple moving average is $15.47. The company has a market cap of $2.38 billion, a P/E ratio of -26.41 and a beta of 2.06. Arcutis Biotherapeutics has a 52-week low of $8.11 and a 52-week high of $21.84.

Arcutis Biotherapeutics (NASDAQ:ARQT) last released its earnings results on Wednesday, August 6th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.05. The business had revenue of $81.50 million for the quarter, compared to the consensus estimate of $72.70 million. Arcutis Biotherapeutics had a negative return on equity of 62.62% and a negative net margin of 35.40%. As a group, sell-side analysts forecast that Arcutis Biotherapeutics will post -1.33 EPS for the current fiscal year.

Arcutis Biotherapeutics Company Profile

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.