Arcutis Biotherapeutics (NASDAQ:ARQT) Earns "Buy" Rating from Needham & Company LLC

Arcutis Biotherapeutics (NASDAQ:ARQT - Get Free Report)'s stock had its "buy" rating reaffirmed by equities researchers at Needham & Company LLC in a report issued on Wednesday,Benzinga reports. They currently have a $20.00 target price on the stock. Needham & Company LLC's price objective indicates a potential upside of 54.80% from the stock's previous close.

Other analysts also recently issued reports about the stock. Mizuho raised their price objective on shares of Arcutis Biotherapeutics from $20.00 to $21.00 and gave the company an "outperform" rating in a research report on Wednesday, February 26th. The Goldman Sachs Group boosted their price objective on Arcutis Biotherapeutics from $13.00 to $15.00 and gave the company a "neutral" rating in a research report on Thursday, February 27th. HC Wainwright reiterated a "buy" rating and set a $19.00 target price on shares of Arcutis Biotherapeutics in a research report on Thursday, April 3rd. Jefferies Financial Group boosted their price target on Arcutis Biotherapeutics from $16.00 to $19.00 and gave the stock a "buy" rating in a report on Tuesday, March 11th. Finally, Guggenheim reiterated a "buy" rating on shares of Arcutis Biotherapeutics in a research report on Thursday, April 3rd. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $18.80.

Arcutis Biotherapeutics Stock Performance

Shares of ARQT stock traded up $0.33 during mid-day trading on Wednesday, reaching $12.92. 799,931 shares of the company's stock traded hands, compared to its average volume of 2,402,893. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.38 and a current ratio of 2.46. The firm has a market capitalization of $1.53 billion, a PE ratio of -7.22 and a beta of 1.67. Arcutis Biotherapeutics has a 12 month low of $6.99 and a 12 month high of $17.75. The firm has a 50 day moving average price of $14.23 and a two-hundred day moving average price of $12.62.

Arcutis Biotherapeutics (NASDAQ:ARQT - Get Free Report) last posted its quarterly earnings data on Tuesday, February 25th. The company reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.28) by $0.19. The firm had revenue of $71.36 million for the quarter, compared to the consensus estimate of $60.52 million. Arcutis Biotherapeutics had a negative return on equity of 119.11% and a negative net margin of 140.97%. On average, research analysts forecast that Arcutis Biotherapeutics will post -1.33 EPS for the current year.

Insiders Place Their Bets

In related news, Director Howard G. Welgus sold 10,000 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $12.71, for a total value of $127,100.00. Following the sale, the director now directly owns 141,944 shares of the company's stock, valued at $1,804,108.24. This represents a 6.58 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Todd Franklin Watanabe sold 1,500 shares of the company's stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $17.52, for a total value of $26,280.00. Following the transaction, the insider now directly owns 927,414 shares in the company, valued at approximately $16,248,293.28. This represents a 0.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 46,099 shares of company stock valued at $631,256 in the last three months. Corporate insiders own 9.50% of the company's stock.

Institutional Investors Weigh In On Arcutis Biotherapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. LVW Advisors LLC boosted its holdings in shares of Arcutis Biotherapeutics by 21.2% in the first quarter. LVW Advisors LLC now owns 14,466 shares of the company's stock valued at $226,000 after purchasing an additional 2,530 shares during the period. Rhumbline Advisers lifted its holdings in shares of Arcutis Biotherapeutics by 7.7% in the 1st quarter. Rhumbline Advisers now owns 181,074 shares of the company's stock worth $2,832,000 after buying an additional 13,022 shares during the period. GAMMA Investing LLC grew its position in shares of Arcutis Biotherapeutics by 1,261.0% during the 1st quarter. GAMMA Investing LLC now owns 15,515 shares of the company's stock worth $2,430,000 after buying an additional 14,375 shares in the last quarter. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Arcutis Biotherapeutics during the fourth quarter valued at $291,000. Finally, GF Fund Management CO. LTD. bought a new stake in shares of Arcutis Biotherapeutics in the fourth quarter valued at about $34,000.

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.