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

Shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) have earned an average recommendation of “Moderate Buy” from the eight brokerages that are covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $26.56.

A number of analysts recently issued reports on ARQT shares. Needham & Company LLC reissued a “buy” rating and set a $16.00 price objective on shares of Arcutis Biotherapeutics in a report on Friday, April 12th. The Goldman Sachs Group raised their price objective 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, Mizuho reaffirmed a “buy” rating and set a $16.00 price objective (up previously from $8.00) on shares of Arcutis Biotherapeutics in a research note on Friday, February 23rd.

Insider Buying and Selling

In other Arcutis Biotherapeutics news, insider Masaru Matsuda sold 3,760 shares of Arcutis Biotherapeutics stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 190,424 shares in the company, valued at $2,117,514.88. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 20.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Arcutis Biotherapeutics

Large investors have recently added to or reduced their stakes in the company. Cape Investment Advisory Inc. bought a new position in shares of Arcutis Biotherapeutics during the 4th quarter valued at about $26,000. Cantor Fitzgerald L. P. bought a new position in Arcutis Biotherapeutics during the fourth quarter valued at approximately $33,000. Victory Capital Management Inc. bought a new position in Arcutis Biotherapeutics during the fourth quarter valued at approximately $34,000. China Universal Asset Management Co. Ltd. raised its stake in shares of Arcutis Biotherapeutics by 586.8% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 10,920 shares of the company’s stock worth $35,000 after acquiring an additional 9,330 shares in the last quarter. Finally, Amalgamated Bank lifted its holdings in shares of Arcutis Biotherapeutics by 48.9% in the 4th quarter. Amalgamated Bank now owns 11,078 shares of the company’s stock worth $36,000 after acquiring an additional 3,639 shares during the last quarter.

Arcutis Biotherapeutics Price Performance

ARQT opened at $8.78 on Tuesday. The firm has a 50-day moving average price of $10.15 and a 200-day moving average price of $5.83. Arcutis Biotherapeutics has a twelve month low of $1.76 and a twelve month high of $15.21. The company has a quick ratio of 6.80, a current ratio of 7.08 and a debt-to-equity ratio of 2.28. The company has a market capitalization of $849.99 million, a price-to-earnings ratio of -2.24 and a beta of 1.14.

Arcutis Biotherapeutics (NASDAQ:ARQT) last released its quarterly earnings data on Tuesday, February 27th. The company reported ($0.72) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.64) by ($0.08). The business had revenue of $13.53 million during the quarter, compared to analysts’ expectations of $11.78 million. Arcutis Biotherapeutics had a negative net margin of 439.79% and a negative return on equity of 294.85%. During the same quarter in the prior year, the firm posted ($1.18) earnings per share. Equities analysts expect that Arcutis Biotherapeutics will post -2.49 EPS for the current year.

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.