Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Receives $18.00 Consensus PT from Brokerages

Shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) 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.

Insiders Place Their Bets

In related news, Director Howard G. Welgus sold 10,000 shares of Arcutis Biotherapeutics stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $13.00, for a total value of $130,000.00. Following the completion of the sale, the director now directly owns 131,944 shares in the company, valued at approximately $1,715,272. This trade represents a 7.05 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Patrick Burnett sold 2,819 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $13.03, for a total transaction of $36,731.57. Following the transaction, the insider now owns 167,043 shares in the company, valued at $2,176,570.29. This represents a 1.66 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 57,848 shares of company stock valued at $797,648. Corporate insiders own 9.50% of the company’s stock.

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) 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.