Arcutis Biotherapeutics (NASDAQ:ARQT) Shares Gap Up – What’s Next?

Shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) gapped up before the market opened on Monday . The stock had previously closed at $13.81, but opened at $14.99. Arcutis Biotherapeutics shares last traded at $13.39, with a volume of 411,596 shares trading hands.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Mizuho raised their price objective on shares of Arcutis Biotherapeutics from $19.00 to $20.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 7th. Needham & Company LLC reaffirmed a “buy” rating and issued a $18.00 target price on shares of Arcutis Biotherapeutics in a research report on Thursday, November 7th. Finally, HC Wainwright reiterated a “buy” rating and set a $19.00 price target on shares of Arcutis Biotherapeutics in a report on Monday. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $16.60.

Arcutis Biotherapeutics Trading Down 2.6 %

The business’s 50-day simple moving average is $12.68 and its 200-day simple moving average is $10.74. The company has a market cap of $1.55 billion, a PE ratio of -7.42 and a beta of 1.30. The company has a current ratio of 2.46, a quick ratio of 2.38 and a debt-to-equity ratio of 0.67.

Arcutis Biotherapeutics (NASDAQ:ARQT) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.33) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.09. The business had revenue of $44.76 million for the quarter, compared to the consensus estimate of $38.05 million. Arcutis Biotherapeutics had a negative net margin of 140.97% and a negative return on equity of 119.11%. As a group, analysts expect that Arcutis Biotherapeutics, Inc. will post -1.34 EPS for the current fiscal year.

Insider Transactions at Arcutis Biotherapeutics

In other Arcutis Biotherapeutics news, insider Patrick Burnett sold 16,023 shares of the stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $10.14, for a total transaction of $162,473.22. Following the transaction, the insider now directly owns 128,669 shares of the company’s stock, valued at $1,304,703.66. This represents a 11.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Todd Franklin Watanabe sold 15,000 shares of the firm’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $15.17, for a total value of $227,550.00. Following the transaction, the insider now owns 823,430 shares in the company, valued at approximately $12,491,433.10. This trade represents a 1.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 78,291 shares of company stock valued at $927,966 in the last three months. Corporate insiders own 9.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Point72 DIFC Ltd bought a new stake in Arcutis Biotherapeutics during the third quarter worth approximately $25,000. Algert Global LLC acquired a new position in Arcutis Biotherapeutics in the 2nd quarter valued at $97,000. Erste Asset Management GmbH bought a new position in Arcutis Biotherapeutics in the 3rd quarter worth $104,000. Victory Capital Management Inc. lifted its position in Arcutis Biotherapeutics by 9.9% during the 3rd quarter. Victory Capital Management Inc. now owns 12,843 shares of the company’s stock worth $119,000 after acquiring an additional 1,155 shares during the last quarter. Finally, Creative Planning acquired a new position in Arcutis Biotherapeutics during the 3rd quarter worth $127,000.

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.