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

Shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT – Get Free Report) have been assigned an average recommendation of “Moderate Buy” from the nine ratings firms that are presently covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $35.57.

A number of brokerages have commented on ARQT. Morgan Stanley lifted their target price on shares of Arcutis Biotherapeutics from $34.00 to $38.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. Wall Street Zen raised shares of Arcutis Biotherapeutics from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 8th. Guggenheim raised their price target on shares of Arcutis Biotherapeutics from $35.00 to $38.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Needham & Company LLC lifted their price target on shares of Arcutis Biotherapeutics from $36.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Finally, Weiss Ratings upgraded Arcutis Biotherapeutics from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, September 24th.

View Our Latest Report on Arcutis Biotherapeutics

Arcutis Biotherapeutics Stock Up 1.0%

ARQT stock opened at $24.17 on Friday. The company has a current ratio of 2.92, a quick ratio of 2.67 and a debt-to-equity ratio of 0.46. The firm has a 50-day moving average of $25.41 and a two-hundred day moving average of $24.60. Arcutis Biotherapeutics has a 12 month low of $19.30 and a 12 month high of $31.77. The company has a market cap of $3.04 billion, a price-to-earnings ratio of 115.10 and a beta of 1.57.

Arcutis Biotherapeutics (NASDAQ:ARQT – Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.05. The business had revenue of $129.86 million for the quarter, compared to analysts’ expectations of $118.85 million. Arcutis Biotherapeutics had a return on equity of 15.05% and a net margin of 6.15%. As a group, analysts forecast that Arcutis Biotherapeutics will post 0.42 earnings per share for the current fiscal year.

Insider Buying and Selling at Arcutis Biotherapeutics

In related news, insider Todd Watanabe sold 4,375 shares of the business’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $26.12, for a total value of $114,275.00. Following the sale, the insider directly owned 717,203 shares in the company, valued at approximately $18,733,342.36. The trade was a 0.61% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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. Also, insider Masaru Matsuda sold 9,989 shares of the stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $25.03, for a total transaction of $250,024.67. Following the transaction, the insider directly owned 116,182 shares of the company’s stock, valued at approximately $2,908,035.46. This trade represents a 7.92% 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. In the last quarter, insiders sold 79,225 shares of company stock worth $2,015,966. Insiders own 9.40% of the company’s stock.

Hedge Funds Weigh In On Arcutis Biotherapeutics

Several hedge funds have recently bought and sold shares of ARQT. Arizona State Retirement System increased its holdings in shares of Arcutis Biotherapeutics by 1.7% during the 2nd quarter. Arizona State Retirement System now owns 30,802 shares of the company’s stock worth $808,000 after buying an additional 521 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Arcutis Biotherapeutics by 124.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,261 shares of the company’s stock worth $37,000 after buying an additional 698 shares during the period. Bank of New York Mellon Corp boosted its holdings in Arcutis Biotherapeutics by 0.4% in the first quarter. Bank of New York Mellon Corp now owns 305,532 shares of the company’s stock valued at $7,198,000 after acquiring an additional 1,104 shares during the last quarter. KBC Group NV boosted its holdings in Arcutis Biotherapeutics by 43.2% in the first quarter. KBC Group NV now owns 4,376 shares of the company’s stock valued at $103,000 after acquiring an additional 1,321 shares during the last quarter. Finally, Los Angeles Capital Management LLC grew its position in Arcutis Biotherapeutics by 2.3% during the fourth quarter. Los Angeles Capital Management LLC now owns 64,503 shares of the company’s stock valued at $1,873,000 after acquiring an additional 1,478 shares during the period.

Arcutis Biotherapeutics Company Profile

(Get Free Report)

Arcutis Biotherapeutics, Inc (NASDAQ: ARQT) is a biopharmaceutical company focused on developing and commercializing treatments for dermatologic conditions. The company concentrates on medical dermatology, with an emphasis on addressing diseases that can significantly affect patients’ quality of life and for which additional treatment options are needed.

Arcutis’s primary commercial product is ZORYVE (roflumilast), a topical phosphodiesterase-4 inhibitor available in multiple formulations.

See Also

Analyst Recommendations for Arcutis Biotherapeutics (NASDAQ:ARQT)

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.