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

HC Wainwright restated their buy rating on shares of Arcutis Biotherapeutics (NASDAQ:ARQT) in a report issued on Wednesday,Benzinga reports. HC Wainwright currently has a $19.00 price objective on the stock.

Several other analysts have also issued reports on ARQT. Needham & Company LLC reissued a “buy” rating and set a $20.00 target price on shares of Arcutis Biotherapeutics in a report on Wednesday. Guggenheim reaffirmed a “buy” rating on shares of Arcutis Biotherapeutics in a research report on Monday. Finally, Mizuho raised their target price on shares of Arcutis Biotherapeutics from $20.00 to $21.00 and gave the company an “outperform” rating in a report on Wednesday. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Arcutis Biotherapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.20.

Arcutis Biotherapeutics Stock Performance

NASDAQ ARQT opened at $13.22 on Wednesday. The firm has a 50-day moving average price of $13.58 and a two-hundred day moving average price of $11.42. Arcutis Biotherapeutics has a 12-month low of $6.99 and a 12-month high of $16.20. The company has a market capitalization of $1.55 billion, a P/E ratio of -7.39 and a beta of 1.29. 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 released its quarterly earnings results on Tuesday, February 25th. The company reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.19. The company had revenue of $71.36 million during the quarter, compared to the consensus estimate of $60.52 million. Arcutis Biotherapeutics had a negative net margin of 140.97% and a negative return on equity of 119.11%. Analysts anticipate that Arcutis Biotherapeutics will post -1.33 earnings per share for the current year.

Insider Transactions at Arcutis Biotherapeutics

In other Arcutis Biotherapeutics news, insider Masaru Matsuda sold 8,338 shares of Arcutis Biotherapeutics stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $12.70, for a total value of $105,892.60. Following the transaction, the insider now owns 178,692 shares in the company, valued at $2,269,388.40. The trade was a 4.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Howard G. Welgus sold 10,000 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $12.71, for a total transaction of $127,100.00. Following the completion of the transaction, the director now directly owns 141,944 shares of the company’s stock, valued at $1,804,108.24. This trade represents a 6.58 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 55,029 shares of company stock valued at $756,017. Corporate insiders own 9.50% of the company’s stock.

Institutional Trading of Arcutis Biotherapeutics

A number of hedge funds have recently added to or reduced their stakes in ARQT. GF Fund Management CO. LTD. acquired a new position in shares of Arcutis Biotherapeutics during the fourth quarter worth $34,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Arcutis Biotherapeutics by 1.2% during 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 acquiring an additional 3,409 shares during the last quarter. Voloridge Investment Management LLC grew its position in Arcutis Biotherapeutics by 126.5% during the 4th quarter. Voloridge Investment Management LLC now owns 290,938 shares of the company’s stock worth $4,053,000 after acquiring an additional 162,495 shares during the last quarter. Squarepoint Ops LLC increased its holdings in Arcutis Biotherapeutics by 67.2% in the 4th quarter. Squarepoint Ops LLC now owns 121,392 shares of the company’s stock worth $1,691,000 after purchasing an additional 48,769 shares in the last quarter. Finally, Suvretta Capital Management LLC raised its position in Arcutis Biotherapeutics by 6.3% in the fourth quarter. Suvretta Capital Management LLC now owns 11,399,138 shares of the company’s stock valued at $158,790,000 after purchasing an additional 677,627 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.