Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) have been assigned a consensus recommendation of “Moderate Buy” from the eight ratings firms that are covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $27.00.

ARQT has been the subject of several research analyst reports. Mizuho increased their price objective on Arcutis Biotherapeutics from $17.00 to $18.00 and gave the company a “buy” rating in a report on Wednesday, May 15th. The Goldman Sachs Group upped their price target on shares of Arcutis Biotherapeutics from $6.00 to $11.00 and gave the company a “neutral” rating in a research report on Wednesday, February 28th. Finally, Needham & Company LLC raised their price objective on shares of Arcutis Biotherapeutics from $16.00 to $18.00 and gave the stock a “buy” rating in a research report on Wednesday, May 15th.

Arcutis Biotherapeutics Trading Up 0.9 %

NASDAQ ARQT opened at $9.16 on Friday. Arcutis Biotherapeutics has a 12 month low of $1.76 and a 12 month high of $13.17. The company has a market capitalization of $1.06 billion, a price-to-earnings ratio of -3.13 and a beta of 1.18. The company has a debt-to-equity ratio of 0.90, a current ratio of 9.89 and a quick ratio of 9.61. The firm’s fifty day moving average price is $9.48 and its 200 day moving average price is $6.57.

Arcutis Biotherapeutics (NASDAQ:ARQT) last posted its earnings results on Tuesday, May 14th. The company reported ($0.32) EPS for the quarter, topping analysts’ consensus estimates of ($0.60) by $0.28. The business had revenue of $49.57 million for the quarter. Arcutis Biotherapeutics had a negative return on equity of 197.28% and a negative net margin of 204.35%. During the same quarter last year, the firm posted ($1.31) EPS. On average, sell-side analysts expect that Arcutis Biotherapeutics will post -1.6 earnings per share for the current fiscal year.

Insider Transactions at Arcutis Biotherapeutics

In other news, SVP Larry Todd Edwards sold 7,640 shares of the business’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $8.98, for a total transaction of $68,607.20. Following the transaction, the senior vice president now directly owns 140,360 shares in the company, valued at $1,260,432.80. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Arcutis Biotherapeutics news, insider Masaru Matsuda sold 3,760 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $11.12, for a total transaction of $41,811.20. Following the sale, the insider now directly owns 190,424 shares in the company, valued at approximately $2,117,514.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Larry Todd Edwards sold 7,640 shares of the company’s stock in a transaction on Friday, May 17th. The stock was sold at an average price of $8.98, for a total transaction of $68,607.20. Following the transaction, the senior vice president now directly owns 140,360 shares in the company, valued at $1,260,432.80. The disclosure for this sale can be found here. Company insiders own 9.50% of the company’s stock.

Institutional Trading of Arcutis Biotherapeutics

A number of institutional investors have recently added to or reduced their stakes in ARQT. DekaBank Deutsche Girozentrale purchased a new stake in shares of Arcutis Biotherapeutics during the 4th quarter worth approximately $462,000. Fox Run Management L.L.C. acquired a new stake in Arcutis Biotherapeutics in the third quarter valued at $60,000. Los Angeles Capital Management LLC purchased a new position in shares of Arcutis Biotherapeutics in the fourth quarter valued at $628,000. China Universal Asset Management Co. Ltd. raised its stake in shares of Arcutis Biotherapeutics by 586.8% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 10,920 shares of the company’s stock worth $35,000 after buying an additional 9,330 shares during the last quarter. Finally, Trexquant Investment LP purchased a new stake in shares of Arcutis Biotherapeutics in the 3rd quarter worth about $311,000.

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.