Arcutis Biotherapeutics (NASDAQ:ARQT) Given New $15.00 Price Target at The Goldman Sachs Group

Arcutis Biotherapeutics (NASDAQ:ARQT) had its target price hoisted by The Goldman Sachs Group from $13.00 to $15.00 in a research note issued to investors on Thursday morning,Benzinga reports. They currently have a neutral rating on the stock.

A number of other analysts have also commented on ARQT. HC Wainwright restated a “buy” rating and issued a $19.00 price target on shares of Arcutis Biotherapeutics in a report on Wednesday. Needham & Company LLC restated a “buy” rating and issued a $20.00 price target on shares of Arcutis Biotherapeutics in a report on Wednesday. Mizuho boosted their price target on Arcutis Biotherapeutics from $20.00 to $21.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, Guggenheim restated a “buy” rating on shares of Arcutis Biotherapeutics in a report on Monday. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Arcutis Biotherapeutics has an average rating of “Moderate Buy” and a consensus price target of $18.00.

Arcutis Biotherapeutics Stock Performance

ARQT stock opened at $12.80 on Thursday. The business’s 50-day moving average price is $13.56 and its two-hundred day moving average price is $11.43. The company has a current ratio of 2.46, a quick ratio of 2.38 and a debt-to-equity ratio of 0.67. The firm has a market cap of $1.50 billion, a PE ratio of -7.15 and a beta of 1.29. Arcutis Biotherapeutics has a 1-year low of $6.99 and a 1-year high of $16.20.

Arcutis Biotherapeutics (NASDAQ:ARQT) last issued its quarterly earnings results on Tuesday, February 25th. The company reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.19. The company had revenue of $71.36 million for the quarter, compared to analyst estimates of $60.52 million. Arcutis Biotherapeutics had a negative return on equity of 119.11% and a negative net margin of 140.97%. As a group, research analysts forecast that Arcutis Biotherapeutics will post -1.33 earnings per share for the current year.

Insider Activity at Arcutis Biotherapeutics

In other Arcutis Biotherapeutics news, insider Todd Franklin Watanabe sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $15.17, for a total transaction of $227,550.00. Following the transaction, the insider now owns 823,430 shares of the company’s stock, valued at $12,491,433.10. The trade was a 1.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Howard G. Welgus sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $12.71, for a total value of $127,100.00. Following the transaction, the director now directly owns 141,944 shares in the company, valued at approximately $1,804,108.24. This trade represents a 6.58 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 55,029 shares of company stock valued at $756,017. 9.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Arcutis Biotherapeutics

Institutional investors have recently bought and sold shares of the business. Point72 DIFC Ltd acquired a new position in Arcutis Biotherapeutics during the third quarter worth approximately $25,000. GF Fund Management CO. LTD. acquired a new position in Arcutis Biotherapeutics during the fourth quarter worth approximately $34,000. Venturi Wealth Management LLC acquired a new position in shares of Arcutis Biotherapeutics in the fourth quarter valued at approximately $46,000. Erste Asset Management GmbH acquired a new position in shares of Arcutis Biotherapeutics in the third quarter valued at approximately $104,000. Finally, Victory Capital Management Inc. grew its position in shares of Arcutis Biotherapeutics by 9.9% in the third quarter. Victory Capital Management Inc. now owns 12,843 shares of the company’s stock valued at $119,000 after purchasing an additional 1,155 shares during the last quarter.

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.