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

Shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT – Get Free Report) have earned a consensus rating of “Moderate Buy” from the eight analysts that are presently covering the firm, Marketbeat Ratings reports. One research 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 covered the stock in the last year is $34.00.

ARQT has been the subject of several analyst reports. Wall Street Zen upgraded shares of Arcutis Biotherapeutics from a “hold” rating to a “buy” rating in a report on Sunday, July 12th. Needham & Company LLC reissued a “buy” rating and set a $36.00 target price on shares of Arcutis Biotherapeutics in a research note on Thursday, May 7th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Arcutis Biotherapeutics in a report on Wednesday, June 24th.

Get Arcutis Biotherapeutics alerts:

Read Our Latest Analysis on Arcutis Biotherapeutics

Insider Buying and Selling

In other news, Director Howard G. Welgus sold 7,144 shares of the business’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $22.99, for a total value of $164,240.56. Following the transaction, the director directly owned 32,600 shares of the company’s stock, valued at $749,474. The trade was a 17.98% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Sue-Jean Lin sold 4,946 shares of the company’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $24.38, for a total value of $120,583.48. Following the sale, the director owned 27,567 shares in the company, valued at approximately $672,083.46. The trade was a 15.21% decrease in their position. 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. Insiders sold 30,931 shares of company stock worth $730,086 over the last three months. Insiders own 9.40% of the company’s stock.

Hedge Funds Weigh In On Arcutis Biotherapeutics

A number of institutional investors and hedge funds have recently modified their holdings of ARQT. Suvretta Capital Management LLC increased its position in Arcutis Biotherapeutics by 14.2% in the 4th quarter. Suvretta Capital Management LLC now owns 11,964,000 shares of the company’s stock valued at $347,435,000 after buying an additional 1,486,000 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Arcutis Biotherapeutics by 1,228.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,166,348 shares of the company’s stock worth $33,872,000 after acquiring an additional 1,078,546 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Arcutis Biotherapeutics in the fourth quarter worth approximately $26,136,000. State Street Corp grew its stake in Arcutis Biotherapeutics by 18.2% in the fourth quarter. State Street Corp now owns 5,488,301 shares of the company’s stock valued at $159,380,000 after acquiring an additional 846,986 shares during the period. Finally, Voloridge Investment Management LLC bought a new stake in shares of Arcutis Biotherapeutics during the third quarter valued at approximately $15,711,000.

Arcutis Biotherapeutics Stock Performance

NASDAQ ARQT opened at $28.49 on Monday. The firm has a market capitalization of $3.56 billion, a PE ratio of -949.35 and a beta of 1.48. The business’s 50-day moving average price is $24.17 and its two-hundred day moving average price is $24.77. The company has a current ratio of 2.68, a quick ratio of 2.46 and a debt-to-equity ratio of 0.54. Arcutis Biotherapeutics has a 12 month low of $13.69 and a 12 month high of $31.77.

Arcutis Biotherapeutics (NASDAQ:ARQT – Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.07). The company had revenue of $105.40 million for the quarter, compared to the consensus estimate of $103.67 million. Arcutis Biotherapeutics had a negative return on equity of 1.41% and a negative net margin of 0.57%. On average, analysts expect that Arcutis Biotherapeutics will post 0.16 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.

Featured Articles

• Five stocks we like better than Arcutis Biotherapeutics
• Strait of Hormuz Tensions Spike Tanker Trade: These 2 Stocks Are Set to Benefit
• Shopify’s Quiet AI Strategy Could Be Its Biggest Advantage Yet
• Why These 3 Nuclear ETFs Are Getting a Fresh Look as AI Power Demand Rises
• 3 Aerospace Suppliers That Could Benefit as Aircraft Makers Face Bottlenecks

Receive News & Ratings for Arcutis Biotherapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arcutis Biotherapeutics and related companies with MarketBeat.com's FREE daily email newsletter.