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

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

Several other research analysts have also weighed in on the company. Mizuho lifted their target price on Arcutis Biotherapeutics from $32.00 to $37.00 and gave the stock an “outperform” rating in a report on Friday, November 28th. The Goldman Sachs Group lifted their price objective on Arcutis Biotherapeutics from $19.00 to $29.00 and gave the company a “neutral” rating in a report on Thursday, October 30th. Needham & Company LLC boosted their price objective on Arcutis Biotherapeutics from $22.00 to $30.00 and gave the company a “buy” rating in a research report on Tuesday, October 28th. HC Wainwright reissued a “buy” rating and set a $30.00 target price on shares of Arcutis Biotherapeutics in a research note on Wednesday, October 29th. Finally, Zacks Research raised shares of Arcutis Biotherapeutics from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $29.00.

Arcutis Biotherapeutics Stock Up 0.1%

ARQT stock opened at $31.20 on Friday. Arcutis Biotherapeutics has a 12-month low of $11.13 and a 12-month high of $31.45. The company has a market cap of $3.82 billion, a price-to-earnings ratio of -86.67 and a beta of 1.69. The company has a quick ratio of 3.28, a current ratio of 3.50 and a debt-to-equity ratio of 0.68. The company has a 50 day moving average of $24.25 and a two-hundred day moving average of $18.31.

Arcutis Biotherapeutics (NASDAQ:ARQT) last released its earnings results on Tuesday, October 28th. The company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $99.22 million during the quarter, compared to the consensus estimate of $86.69 million. On average, equities analysts anticipate that Arcutis Biotherapeutics will post -1.33 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Arcutis Biotherapeutics news, Director Halley E. Gilbert sold 16,532 shares of the company’s stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $27.55, for a total value of $455,456.60. Following the sale, the director owned 22,123 shares in the company, valued at $609,488.65. This represents a 42.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Masaru Matsuda sold 1,657 shares of Arcutis Biotherapeutics stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $30.23, for a total value of $50,091.11. Following the transaction, the insider owned 150,641 shares of the company’s stock, valued at $4,553,877.43. This represents a 1.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 328,233 shares of company stock worth $8,314,047 in the last three months. Insiders own 9.40% of the company’s stock.

Hedge Funds Weigh In On Arcutis Biotherapeutics

Several large investors have recently modified their holdings of the stock. CIBC Bancorp USA Inc. acquired a new stake in shares of Arcutis Biotherapeutics during the 3rd quarter worth about $215,000. Woodline Partners LP raised its holdings in Arcutis Biotherapeutics by 53.1% in the 3rd quarter. Woodline Partners LP now owns 314,619 shares of the company’s stock valued at $5,931,000 after acquiring an additional 109,109 shares during the period. Dark Forest Capital Management LP acquired a new stake in Arcutis Biotherapeutics during the third quarter worth approximately $516,000. PharVision Advisers LLC acquired a new stake in Arcutis Biotherapeutics during the third quarter worth approximately $245,000. Finally, Voleon Capital Management LP bought a new stake in shares of Arcutis Biotherapeutics during the third quarter worth approximately $468,000.

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.