Arcutis Biotherapeutics (NASDAQ:ARQT) Given Buy Rating at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Arcutis Biotherapeutics (NASDAQ:ARQT) in a research note published on Thursday,Benzinga reports. HC Wainwright currently has a $19.00 price target on the stock.

A number of other equities research analysts also recently weighed in on the company. Mizuho raised their price target on Arcutis Biotherapeutics from $20.00 to $21.00 and gave the company an “outperform” rating in a research report on Wednesday, February 26th. Jefferies Financial Group upped their target price on Arcutis Biotherapeutics from $16.00 to $19.00 and gave the stock a “buy” rating in a research note on Tuesday, March 11th. Needham & Company LLC reissued a “buy” rating and set a $20.00 price target on shares of Arcutis Biotherapeutics in a research note on Wednesday, February 26th. The Goldman Sachs Group upped their price objective on shares of Arcutis Biotherapeutics from $13.00 to $15.00 and gave the company a “neutral” rating in a research note on Thursday, February 27th. Finally, Guggenheim reaffirmed a “buy” rating on shares of Arcutis Biotherapeutics in a report on Monday, February 24th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Arcutis Biotherapeutics has an average rating of “Moderate Buy” and an average target price of $18.80.

Arcutis Biotherapeutics Price Performance

Shares of NASDAQ ARQT opened at $16.16 on Thursday. The stock’s 50-day simple moving average is $14.19 and its two-hundred day simple moving average is $12.38. Arcutis Biotherapeutics has a twelve month low of $6.99 and a twelve month high of $17.75. The firm has a market capitalization of $1.92 billion, a P/E ratio of -9.03 and a beta of 1.48. 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 (NASDAQ:ARQT) last posted its quarterly earnings data on Tuesday, February 25th. The company reported ($0.09) earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $71.36 million for the quarter, compared to analysts’ expectations of $60.52 million. As a group, equities analysts anticipate that Arcutis Biotherapeutics will post -1.33 EPS for the current fiscal year.

Insider Transactions at Arcutis Biotherapeutics

In other Arcutis Biotherapeutics news, insider Masaru Matsuda sold 8,338 shares of the firm’s stock in a transaction 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 sale, the insider now owns 178,692 shares of the company’s stock, valued at $2,269,388.40. This trade represents a 4.46 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Howard G. Welgus sold 10,000 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $12.71, for a total transaction of $127,100.00. Following the transaction, the director now directly owns 141,944 shares of the company’s stock, valued at approximately $1,804,108.24. This trade represents a 6.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 46,099 shares of company stock worth $631,256. Insiders own 9.50% of the company’s stock.

Hedge Funds Weigh In On Arcutis Biotherapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the business. Fishman Jay A Ltd. MI increased its position in Arcutis Biotherapeutics by 28.3% during the 4th quarter. Fishman Jay A Ltd. MI now owns 536,400 shares of the company’s stock valued at $7,472,000 after purchasing an additional 118,400 shares during the period. Barclays PLC boosted its stake in shares of Arcutis Biotherapeutics by 45.8% during the 3rd quarter. Barclays PLC now owns 253,392 shares of the company’s stock valued at $2,356,000 after purchasing an additional 79,579 shares in the last quarter. State Street Corp increased its position in shares of Arcutis Biotherapeutics by 9.9% during the third quarter. State Street Corp now owns 5,641,631 shares of the company’s stock valued at $52,467,000 after buying an additional 506,788 shares during the period. Geode Capital Management LLC lifted its holdings in Arcutis Biotherapeutics by 2.0% in the third quarter. Geode Capital Management LLC now owns 2,470,138 shares of the company’s stock worth $22,977,000 after buying an additional 48,868 shares during the period. Finally, Point72 Asset Management L.P. bought a new stake in Arcutis Biotherapeutics during the 3rd quarter valued at approximately $2,273,000.

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.