Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQTGet Free Report) have received an average rating of “Moderate Buy” from the eight analysts that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $34.00.

ARQT has been the subject of several analyst reports. Mizuho cut their price target on shares of Arcutis Biotherapeutics from $37.00 to $35.00 and set an “outperform” rating for the company in a report on Monday, March 2nd. Wall Street Zen cut shares of Arcutis Biotherapeutics from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Needham & Company LLC reissued a “buy” rating and set a $36.00 price target on shares of Arcutis Biotherapeutics in a report on Thursday, May 7th. HC Wainwright increased their price target on shares of Arcutis Biotherapeutics from $30.00 to $34.00 and gave the stock a “buy” rating in a report on Thursday, February 26th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Arcutis Biotherapeutics in a report on Friday, March 27th.

Get Our Latest Analysis on Arcutis Biotherapeutics

Insider Activity

In related news, Director Howard G. Welgus sold 10,000 shares of the stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $23.88, for a total transaction of $238,800.00. Following the completion of the transaction, the director directly owned 39,744 shares of the company’s stock, valued at $949,086.72. This represents a 20.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Latha Vairavan sold 1,341 shares of the company’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $23.61, for a total transaction of $31,661.01. Following the transaction, the chief financial officer owned 86,413 shares in the company, valued at $2,040,210.93. The trade was a 1.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 31,254 shares of company stock valued at $732,019. Company insiders own 9.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in ARQT. Focus Partners Wealth boosted its position in Arcutis Biotherapeutics by 0.8% during the third quarter. Focus Partners Wealth now owns 65,196 shares of the company’s stock worth $1,237,000 after acquiring an additional 490 shares during the last quarter. Arizona State Retirement System boosted its position in Arcutis Biotherapeutics by 1.8% during the third quarter. Arizona State Retirement System now owns 31,685 shares of the company’s stock worth $597,000 after acquiring an additional 568 shares during the last quarter. Schroder Investment Management Group boosted its position in Arcutis Biotherapeutics by 1.1% during the fourth quarter. Schroder Investment Management Group now owns 57,136 shares of the company’s stock worth $1,604,000 after acquiring an additional 594 shares during the last quarter. AlphaQuest LLC boosted its position in Arcutis Biotherapeutics by 5.7% during the third quarter. AlphaQuest LLC now owns 12,603 shares of the company’s stock worth $238,000 after acquiring an additional 682 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its position in Arcutis Biotherapeutics by 124.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,261 shares of the company’s stock worth $37,000 after acquiring an additional 698 shares during the last quarter.

Arcutis Biotherapeutics Price Performance

Shares of NASDAQ:ARQT opened at $21.95 on Friday. The company has a 50-day simple moving average of $22.50 and a 200-day simple moving average of $25.48. Arcutis Biotherapeutics has a one year low of $12.72 and a one year high of $31.77. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.46 and a current ratio of 2.68. The stock has a market capitalization of $2.75 billion, a price-to-earnings ratio of -731.42 and a beta of 1.51.

Arcutis Biotherapeutics (NASDAQ:ARQTGet Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.07). The firm had revenue of $105.40 million for the quarter, compared to analysts’ expectations of $103.68 million. Arcutis Biotherapeutics had a negative return on equity of 1.41% and a negative net margin of 0.57%. On average, analysts predict that Arcutis Biotherapeutics will post 0.15 EPS for the current year.

About Arcutis Biotherapeutics

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Arcutis Biotherapeutics (NASDAQ:ARQT)

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