Shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT – Get Free Report) have been assigned an average recommendation of “Moderate Buy” from the six ratings firms that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $18.80.
A number of brokerages have weighed in on ARQT. Guggenheim restated a “buy” rating on shares of Arcutis Biotherapeutics in a report on Monday, February 24th. The Goldman Sachs Group upped their price target on Arcutis Biotherapeutics from $13.00 to $15.00 and gave the stock a “neutral” rating in a research note on Thursday, February 27th. Needham & Company LLC reiterated a “buy” rating and set a $20.00 price objective on shares of Arcutis Biotherapeutics in a research note on Wednesday, February 26th. HC Wainwright reissued a “buy” rating and issued a $19.00 target price on shares of Arcutis Biotherapeutics in a report on Wednesday, February 26th. Finally, Mizuho raised their price target on Arcutis Biotherapeutics from $20.00 to $21.00 and gave the company an “outperform” rating in a report on Wednesday, February 26th.
Read Our Latest Stock Report on Arcutis Biotherapeutics
Insiders Place Their Bets
Institutional Trading of Arcutis Biotherapeutics
A number of hedge funds have recently bought and sold shares of the company. Creative Planning bought a new stake in shares of Arcutis Biotherapeutics during the 3rd quarter valued at about $127,000. GSA Capital Partners LLP increased its stake in shares of Arcutis Biotherapeutics by 730.0% in the 3rd quarter. GSA Capital Partners LLP now owns 237,174 shares of the company’s stock worth $2,206,000 after purchasing an additional 208,599 shares in the last quarter. Victory Capital Management Inc. raised its holdings in Arcutis Biotherapeutics by 9.9% in the 3rd quarter. Victory Capital Management Inc. now owns 12,843 shares of the company’s stock worth $119,000 after purchasing an additional 1,155 shares during the period. Quest Partners LLC bought a new stake in Arcutis Biotherapeutics during the third quarter valued at about $398,000. Finally, Jennison Associates LLC grew its stake in shares of Arcutis Biotherapeutics by 0.8% during the 3rd quarter. Jennison Associates LLC now owns 11,663,497 shares of the company’s stock valued at $108,471,000 after acquiring an additional 91,803 shares during the period.
Arcutis Biotherapeutics Trading Down 2.3 %
ARQT opened at $14.81 on Friday. The company has a quick ratio of 2.38, a current ratio of 2.46 and a debt-to-equity ratio of 0.67. Arcutis Biotherapeutics has a 52 week low of $6.99 and a 52 week high of $16.20. The stock has a market cap of $1.76 billion, a PE ratio of -8.27 and a beta of 1.48. The business has a 50 day moving average of $13.51 and a 200-day moving average of $11.78.
Arcutis Biotherapeutics (NASDAQ:ARQT – Get Free Report) last announced its 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 firm had revenue of $71.36 million for the quarter, compared to analysts’ expectations of $60.52 million. Arcutis Biotherapeutics had a negative net margin of 140.97% and a negative return on equity of 119.11%. Equities research analysts predict that Arcutis Biotherapeutics will post -1.33 earnings per share for the current fiscal 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.
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