Arcutis Biotherapeutics (NASDAQ:ARQT) Stock Rating Lowered by Wall Street Zen

Arcutis Biotherapeutics (NASDAQ:ARQT) was downgraded by research analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Friday.

Several other equities research analysts have also recently issued reports on ARQT. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arcutis Biotherapeutics in a research note on Monday, December 29th. HC Wainwright reissued a “buy” rating and set a $30.00 price objective on shares of Arcutis Biotherapeutics in a research note on Wednesday, October 29th. Mizuho raised their target price on shares of Arcutis Biotherapeutics from $32.00 to $37.00 and gave the stock an “outperform” rating in a research report on Friday, November 28th. The Goldman Sachs Group lifted their target price on shares of Arcutis Biotherapeutics from $19.00 to $29.00 and gave the stock a “neutral” rating in a research note on Thursday, October 30th. Finally, Needham & Company LLC increased their price target on Arcutis Biotherapeutics from $22.00 to $30.00 and gave the stock a “buy” rating in a research note on Tuesday, October 28th. Six investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Arcutis Biotherapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $29.00.

Arcutis Biotherapeutics Price Performance

Shares of NASDAQ ARQT traded down $0.45 during trading on Friday, reaching $26.20. The company had a trading volume of 1,317,112 shares, compared to its average volume of 1,522,003. The company has a current ratio of 3.50, a quick ratio of 3.28 and a debt-to-equity ratio of 0.68. Arcutis Biotherapeutics has a twelve month low of $11.13 and a twelve month high of $31.77. The stock has a 50-day moving average price of $28.70 and a two-hundred day moving average price of $21.78. The stock has a market capitalization of $3.21 billion, a PE ratio of -72.78 and a beta of 1.71.

Arcutis Biotherapeutics (NASDAQ:ARQT) last posted its quarterly earnings data on Tuesday, October 28th. The company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.16. The business had revenue of $99.22 million for the quarter, compared to analyst estimates of $86.69 million. Arcutis Biotherapeutics had a negative return on equity of 29.69% and a negative net margin of 13.94%. As a group, sell-side analysts predict that Arcutis Biotherapeutics will post -1.33 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Neha Krishnamohan sold 40,504 shares of Arcutis Biotherapeutics stock in a transaction on Thursday, November 13th. The stock was sold at an average price of $23.20, for a total value of $939,692.80. Following the transaction, the director owned 22,123 shares in the company, valued at approximately $513,253.60. This trade represents a 64.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Sue-Jean Lin sold 25,272 shares of the business’s stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $30.78, for a total value of $777,872.16. Following the sale, the director directly owned 26,735 shares of the company’s stock, valued at approximately $822,903.30. This trade represents a 48.59% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 293,912 shares of company stock worth $7,885,305. Corporate insiders own 9.40% of the company’s stock.

Institutional Trading of Arcutis Biotherapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the business. AQR Capital Management LLC grew its position in Arcutis Biotherapeutics by 21.4% in the first quarter. AQR Capital Management LLC now owns 248,196 shares of the company’s stock valued at $3,882,000 after acquiring an additional 43,716 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Arcutis Biotherapeutics by 3.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 71,417 shares of the company’s stock valued at $1,118,000 after purchasing an additional 2,063 shares during the period. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Arcutis Biotherapeutics in the second quarter valued at $217,000. LVW Advisors LLC grew its holdings in Arcutis Biotherapeutics by 21.4% during the 2nd quarter. LVW Advisors LLC now owns 17,561 shares of the company’s stock valued at $246,000 after purchasing an additional 3,095 shares in the last quarter. Finally, Fishman Jay A Ltd. MI increased its stake in Arcutis Biotherapeutics by 4.3% during the 2nd quarter. Fishman Jay A Ltd. MI now owns 556,150 shares of the company’s stock worth $7,797,000 after buying an additional 23,000 shares during the period.

Arcutis Biotherapeutics Company Profile

Arcutis Biotherapeutics is a clinical-stage biopharmaceutical company focused on developing and commercializing innovative therapies for immuno-inflammatory skin diseases. The company’s research and development efforts center on targeted treatments that address the underlying biology of conditions such as plaque psoriasis, atopic dermatitis, seborrheic dermatitis and vitiligo. Arcutis employs a precision-medicine approach to deliver topical therapies designed to improve efficacy and tolerability compared with existing treatment options.

In August 2022, Arcutis received U.S.