Arcutis Biotherapeutics (NASDAQ:ARQT) Stock Price Up 12.5% – Still a Buy?

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT)’s stock price rose 12.5% during trading on Wednesday . The stock traded as high as $17.05 and last traded at $16.85. Approximately 2,551,764 shares traded hands during trading, an increase of 6% from the average daily volume of 2,413,672 shares. The stock had previously closed at $14.98.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ARQT. Guggenheim reaffirmed a “buy” rating on shares of Arcutis Biotherapeutics in a research note on Thursday. HC Wainwright reaffirmed a “buy” rating and set a $19.00 price target on shares of Arcutis Biotherapeutics in a research report on Thursday. The Goldman Sachs Group upped their price objective on Arcutis Biotherapeutics from $13.00 to $15.00 and gave the company a “neutral” rating in a research note on Thursday, February 27th. Jefferies Financial Group lifted their target price on Arcutis Biotherapeutics from $16.00 to $19.00 and gave the stock a “buy” rating in a research report on Tuesday, March 11th. Finally, Needham & Company LLC reissued a “buy” rating and set a $20.00 price target on shares of Arcutis Biotherapeutics in a research report on Thursday. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $18.80.

Arcutis Biotherapeutics Price Performance

The stock has a market capitalization of $1.75 billion, a price-to-earnings ratio of -8.23 and a beta of 1.67. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.46 and a quick ratio of 2.38. The company has a 50-day simple moving average of $14.20 and a two-hundred day simple moving average of $12.41.

Arcutis Biotherapeutics (NASDAQ:ARQT) last released its quarterly earnings data on Tuesday, February 25th. The company reported ($0.09) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.19. Arcutis Biotherapeutics had a negative net margin of 140.97% and a negative return on equity of 119.11%. The business had revenue of $71.36 million for the quarter, compared to analysts’ expectations of $60.52 million. On average, equities research analysts predict that Arcutis Biotherapeutics, Inc. will post -1.33 earnings per share for the current year.

Insider Activity at Arcutis Biotherapeutics

In other news, insider Masaru Matsuda sold 8,338 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $12.70, for a total value of $105,892.60. Following the completion of the sale, the insider now directly owns 178,692 shares of the company’s stock, valued at approximately $2,269,388.40. This represents a 4.46 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Todd Franklin Watanabe sold 1,500 shares of the stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $17.52, for a total transaction of $26,280.00. Following the completion of the transaction, the insider now owns 927,414 shares of the company’s stock, 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. Insiders have sold a total of 46,099 shares of company stock worth $631,256 in the last three months. 9.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Arcutis Biotherapeutics

Hedge funds have recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Arcutis Biotherapeutics in the fourth quarter valued at $291,000. GF Fund Management CO. LTD. bought a new position in shares of Arcutis Biotherapeutics during the 4th quarter valued at about $34,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Arcutis Biotherapeutics by 1.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 280,100 shares of the company’s stock worth $3,902,000 after purchasing an additional 3,409 shares in the last quarter. Voloridge Investment Management LLC raised its holdings in shares of Arcutis Biotherapeutics by 126.5% in the 4th quarter. Voloridge Investment Management LLC now owns 290,938 shares of the company’s stock worth $4,053,000 after purchasing an additional 162,495 shares in the last quarter. Finally, Squarepoint Ops LLC lifted its stake in Arcutis Biotherapeutics by 67.2% during the fourth quarter. Squarepoint Ops LLC now owns 121,392 shares of the company’s stock valued at $1,691,000 after purchasing an additional 48,769 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.