Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Receives $18.80 Consensus Price Target from Analysts

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the six brokerages that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $18.80.

Several research analysts have recently commented on ARQT shares. Mizuho lifted their price target on Arcutis Biotherapeutics from $20.00 to $21.00 and gave the stock an "outperform" rating in a report on Wednesday, February 26th. HC Wainwright restated a "buy" rating and set a $19.00 price objective on shares of Arcutis Biotherapeutics in a research report on Thursday. Needham & Company LLC reiterated a "buy" rating and issued a $20.00 target price on shares of Arcutis Biotherapeutics in a report on Thursday. The Goldman Sachs Group raised their price target on shares of Arcutis Biotherapeutics from $13.00 to $15.00 and gave the stock a "neutral" rating in a report on Thursday, February 27th. Finally, Jefferies Financial Group lifted their price target on shares of Arcutis Biotherapeutics from $16.00 to $19.00 and gave the company a "buy" rating in a research report on Tuesday, March 11th.

Arcutis Biotherapeutics Price Performance

ARQT stock traded down $1.43 during mid-day trading on Tuesday, reaching $14.73. The company's stock had a trading volume of 2,140,245 shares, compared to its average volume of 2,415,347. The company has a current ratio of 2.46, a quick ratio of 2.38 and a debt-to-equity ratio of 0.67. The company's 50 day moving average is $14.20 and its two-hundred day moving average is $12.43. Arcutis Biotherapeutics has a fifty-two week low of $6.99 and a fifty-two week high of $17.75. The stock has a market cap of $1.75 billion, a PE ratio of -8.23 and a beta of 1.67.

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

Insiders Place Their Bets

In other Arcutis Biotherapeutics news, Director Howard G. Welgus sold 10,000 shares of the business's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $12.71, for a total value of $127,100.00. Following the sale, the director now owns 141,944 shares of the company's stock, valued at $1,804,108.24. The trade was a 6.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Masaru Matsuda sold 8,338 shares of the company's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $12.70, for a total value of $105,892.60. Following the transaction, the insider now owns 178,692 shares in the company, valued at $2,269,388.40. This trade represents a 4.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 46,099 shares of company stock valued at $631,256 over the last 90 days. 9.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Arcutis Biotherapeutics

Several hedge funds have recently bought and sold shares of the company. Intech Investment Management LLC purchased a new position in shares of Arcutis Biotherapeutics in the third quarter valued at approximately $345,000. Charles Schwab Investment Management Inc. boosted its position in Arcutis Biotherapeutics by 1.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 859,846 shares of the company's stock valued at $7,997,000 after buying an additional 8,522 shares during the period. The Manufacturers Life Insurance Company boosted its position in Arcutis Biotherapeutics by 30.2% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 52,503 shares of the company's stock valued at $488,000 after buying an additional 12,180 shares during the period. FMR LLC grew its stake in shares of Arcutis Biotherapeutics by 25.6% in the third quarter. FMR LLC now owns 171,219 shares of the company's stock worth $1,592,000 after acquiring an additional 34,884 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Arcutis Biotherapeutics by 1.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 276,691 shares of the company's stock worth $2,573,000 after acquiring an additional 2,912 shares during the period.

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.