Arcutis Biotherapeutics' (ARQT) Buy Rating Reaffirmed at Guggenheim

Arcutis Biotherapeutics (NASDAQ:ARQT - Get Free Report)'s stock had its "buy" rating reissued by Guggenheim in a research note issued on Monday,Benzinga reports.

Other research analysts also recently issued reports about the company. Mizuho upped their price target on Arcutis Biotherapeutics from $19.00 to $20.00 and gave the company an "outperform" rating in a report on Tuesday, January 7th. HC Wainwright restated a "buy" rating and set a $19.00 target price on shares of Arcutis Biotherapeutics in a research note on Monday, January 13th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $18.00 price target on shares of Arcutis Biotherapeutics in a report on Thursday, November 7th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $16.60.

Arcutis Biotherapeutics Stock Down 5.8 %

NASDAQ ARQT traded down $0.77 during mid-day trading on Monday, reaching $12.45. The stock had a trading volume of 3,879,310 shares, compared to its average volume of 2,174,323. The stock has a market cap of $1.46 billion, a PE ratio of -6.95 and a beta of 1.29. Arcutis Biotherapeutics has a 1 year low of $6.88 and a 1 year high of $16.20. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.46 and a quick ratio of 2.38. The company has a fifty day moving average price of $13.63 and a 200 day moving average price of $11.18.

Insider Buying and Selling at Arcutis Biotherapeutics

In other news, insider Patrick Burnett sold 16,023 shares of the business's 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 completion of the sale, the insider now owns 128,669 shares of the company's stock, valued at $1,304,703.66. The trade was a 11.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Todd Franklin Watanabe sold 15,000 shares of the company's stock in a transaction on Friday, December 20th. The stock was sold at an average price of $15.17, for a total value of $227,550.00. Following the completion of the sale, the insider now owns 823,430 shares of the company's stock, valued at $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. Over the last 90 days, insiders have sold 72,927 shares of company stock valued at $936,675. 9.50% of the stock is owned by company insiders.

Institutional Trading of Arcutis Biotherapeutics

Hedge funds have recently bought and sold shares of the stock. Invesco Ltd. raised its stake in shares of Arcutis Biotherapeutics by 20.1% in the fourth quarter. Invesco Ltd. now owns 1,126,668 shares of the company's stock worth $15,694,000 after buying an additional 188,184 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in Arcutis Biotherapeutics in the 4th quarter worth approximately $245,000. Wells Fargo & Company MN raised its stake in Arcutis Biotherapeutics by 46.6% during the 4th quarter. Wells Fargo & Company MN now owns 52,455 shares of the company's stock worth $731,000 after acquiring an additional 16,682 shares during the period. Tradewinds LLC. purchased a new position in Arcutis Biotherapeutics during the fourth quarter valued at approximately $196,000. Finally, Norges Bank bought a new position in shares of Arcutis Biotherapeutics in the fourth quarter worth approximately $7,422,000.

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.