Arcutis Biotherapeutics (NASDAQ:ARQT) Hits New 52-Week High – What’s Next?

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $16.15 and last traded at $16.05, with a volume of 503141 shares changing hands. The stock had previously closed at $14.71.

Analyst Ratings Changes

A number of equities analysts have commented on ARQT shares. Needham & Company LLC reaffirmed a “buy” rating and set a $18.00 target price on shares of Arcutis Biotherapeutics in a research note on Thursday, November 7th. HC Wainwright assumed coverage on shares of Arcutis Biotherapeutics in a research report on Monday, December 30th. They set a “buy” rating and a $19.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $16.20.

Arcutis Biotherapeutics Stock Performance

The company has a market capitalization of $1.80 billion, a price-to-earnings ratio of -8.61 and a beta of 1.30. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.38 and a current ratio of 2.46. The firm has a 50-day simple moving average of $11.98 and a two-hundred day simple moving average of $10.51.

Arcutis Biotherapeutics (NASDAQ:ARQT) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.33) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.09. The firm had revenue of $44.76 million during the quarter, compared to analysts’ expectations of $38.05 million. Arcutis Biotherapeutics had a negative net margin of 140.97% and a negative return on equity of 119.11%. On average, sell-side analysts anticipate that Arcutis Biotherapeutics, Inc. will post -1.34 EPS for the current fiscal year.

Insider Activity

In related news, insider Masaru Matsuda sold 5,015 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $8.68, for a total value of $43,530.20. Following the sale, the insider now owns 178,273 shares of the company’s stock, valued at $1,547,409.64. This trade represents a 2.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Howard G. Welgus sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $8.65, for a total transaction of $86,500.00. Following the transaction, the director now owns 171,944 shares of the company’s stock, valued at $1,487,315.60. This trade represents a 5.50 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 78,291 shares of company stock worth $927,966. Corporate insiders own 9.50% of the company’s stock.

Institutional Trading of Arcutis Biotherapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of ARQT. Suvretta Capital Management LLC increased its holdings in shares of Arcutis Biotherapeutics by 7.2% in the 3rd quarter. Suvretta Capital Management LLC now owns 10,721,511 shares of the company’s stock valued at $99,710,000 after acquiring an additional 717,019 shares during the last quarter. GSA Capital Partners LLP increased its stake in Arcutis Biotherapeutics by 730.0% in the third quarter. GSA Capital Partners LLP now owns 237,174 shares of the company’s stock valued at $2,206,000 after purchasing an additional 208,599 shares during the last quarter. Rubric Capital Management LP increased its stake in Arcutis Biotherapeutics by 11.7% in the third quarter. Rubric Capital Management LP now owns 10,966,672 shares of the company’s stock valued at $101,990,000 after purchasing an additional 1,150,000 shares during the last quarter. Wesbanco Bank Inc. acquired a new stake in Arcutis Biotherapeutics during the third quarter worth approximately $955,000. Finally, Algert Global LLC lifted its position in shares of Arcutis Biotherapeutics by 595.9% during the 3rd quarter. Algert Global LLC now owns 72,480 shares of the company’s stock worth $674,000 after buying an additional 62,065 shares during the last quarter.

Arcutis Biotherapeutics Company Profile

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.