Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Receives Average Rating of “Moderate Buy” from Analysts

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) has earned a consensus recommendation of “Moderate Buy” from the nine ratings firms that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, six have given a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among analysts that have covered the stock in the last year is $28.00.

A number of equities research analysts have recently weighed in on ARQT shares. The Goldman Sachs Group boosted their price target on Arcutis Biotherapeutics from $19.00 to $29.00 and gave the stock a “neutral” rating in a research note on Thursday, October 30th. Weiss Ratings reissued a “sell (e+)” rating on shares of Arcutis Biotherapeutics in a research report on Tuesday, October 14th. Wall Street Zen raised shares of Arcutis Biotherapeutics from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 1st. Mizuho set a $32.00 price objective on shares of Arcutis Biotherapeutics in a report on Wednesday, October 29th. Finally, Cowen restated a “buy” rating on shares of Arcutis Biotherapeutics in a research note on Thursday, August 7th.

Arcutis Biotherapeutics Stock Performance

Shares of ARQT opened at $27.28 on Wednesday. The company has a current ratio of 3.50, a quick ratio of 3.28 and a debt-to-equity ratio of 0.68. The firm has a market cap of $3.34 billion, a PE ratio of -75.78 and a beta of 1.96. Arcutis Biotherapeutics has a 12 month low of $9.19 and a 12 month high of $27.92. The stock has a fifty day moving average price of $20.94 and a 200-day moving average price of $16.84.

Arcutis Biotherapeutics (NASDAQ:ARQT) last announced its earnings results on Tuesday, October 28th. The company reported $0.06 earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.16. Arcutis Biotherapeutics had a negative return on equity of 29.69% and a negative net margin of 13.94%.The firm had revenue of $99.22 million for the quarter, compared to the consensus estimate of $86.69 million. Equities research analysts predict that Arcutis Biotherapeutics will post -1.33 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Patrick Burnett sold 17,250 shares of the stock in a transaction that occurred on Thursday, November 6th. The shares were sold at an average price of $24.18, for a total value of $417,105.00. Following the transaction, the insider owned 98,325 shares in the company, valued at approximately $2,377,498.50. This represents a 14.93% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Larry Todd Edwards sold 29,131 shares of the firm’s stock in a transaction that occurred on Thursday, November 6th. The stock was sold at an average price of $25.16, for a total transaction of $732,935.96. Following the transaction, the insider directly owned 150,193 shares of the company’s stock, valued at $3,778,855.88. This represents a 16.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 280,415 shares of company stock valued at $6,085,811. Insiders own 9.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in ARQT. Triumph Capital Management acquired a new stake in shares of Arcutis Biotherapeutics during the 2nd quarter worth approximately $410,000. Invst LLC purchased a new stake in Arcutis Biotherapeutics during the first quarter worth $323,000. New York State Common Retirement Fund boosted its holdings in Arcutis Biotherapeutics by 93.4% during the first quarter. New York State Common Retirement Fund now owns 48,670 shares of the company’s stock worth $761,000 after buying an additional 23,503 shares in the last quarter. Ieq Capital LLC acquired a new stake in Arcutis Biotherapeutics during the first quarter valued at $345,000. Finally, Fred Alger Management LLC purchased a new position in Arcutis Biotherapeutics in the first quarter valued at $568,000.

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.