Arcutis Biotherapeutics (NASDAQ:ARQT) Trading Up 9.4% – Should You Buy?

Shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) rose 9.4% during trading on Friday . The company traded as high as $24.84 and last traded at $25.0110. Approximately 1,857,290 shares were traded during trading, a decline of 13% from the average daily volume of 2,127,501 shares. The stock had previously closed at $22.86.

Analyst Upgrades and Downgrades

ARQT has been the topic of several research reports. Zacks Research raised Arcutis Biotherapeutics from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 29th. The Goldman Sachs Group raised their price objective on Arcutis Biotherapeutics from $19.00 to $29.00 and gave the stock a “neutral” rating in a report on Thursday, October 30th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Arcutis Biotherapeutics in a research note on Tuesday, October 14th. Needham & Company LLC increased their target price on shares of Arcutis Biotherapeutics from $22.00 to $30.00 and gave the stock a “buy” rating in a research report on Tuesday, October 28th. Finally, HC Wainwright restated a “buy” rating and issued a $30.00 price target on shares of Arcutis Biotherapeutics in a report on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $28.00.

Arcutis Biotherapeutics Trading Up 9.4%

The firm has a fifty day moving average of $20.42 and a 200 day moving average of $16.58. The firm has a market capitalization of $3.06 billion, a PE ratio of -69.44 and a beta of 1.97. The company has a debt-to-equity ratio of 0.68, a quick ratio of 3.28 and a current ratio of 3.50.

Arcutis Biotherapeutics (NASDAQ:ARQT) last issued its quarterly earnings data on Tuesday, October 28th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.16. Arcutis Biotherapeutics had a negative net margin of 13.94% and a negative return on equity of 29.69%. The company had revenue of $99.22 million during the quarter, compared to the consensus estimate of $86.69 million. Equities research analysts expect that Arcutis Biotherapeutics, Inc. will post -1.33 EPS for the current year.

Insider Buying and Selling

In other Arcutis Biotherapeutics news, Director Howard G. Welgus sold 10,000 shares of Arcutis Biotherapeutics stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $15.64, for a total transaction of $156,400.00. Following the sale, the director directly owned 100,206 shares in the company, valued at $1,567,221.84. The trade was a 9.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Masaru Matsuda sold 36,130 shares of the 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 transaction, the insider owned 161,234 shares of the company’s stock, valued at approximately $2,605,541.44. This trade represents a 18.31% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 241,661 shares of company stock worth $5,174,398 over the last quarter. Company insiders own 9.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Cerity Partners LLC acquired a new position in Arcutis Biotherapeutics in the first quarter worth about $303,000. New York State Common Retirement Fund increased its stake in Arcutis Biotherapeutics by 93.4% during the first quarter. New York State Common Retirement Fund now owns 48,670 shares of the company’s stock valued at $761,000 after purchasing an additional 23,503 shares during the last quarter. CWM LLC increased its stake in Arcutis Biotherapeutics by 88.9% during the first quarter. CWM LLC now owns 11,331 shares of the company’s stock valued at $177,000 after purchasing an additional 5,333 shares during the last quarter. Kestra Private Wealth Services LLC acquired a new stake in shares of Arcutis Biotherapeutics during the first quarter worth $221,000. Finally, Readystate Asset Management LP bought a new position in shares of Arcutis Biotherapeutics in the 1st quarter worth about $942,000.

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.