Brokerages Set Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Target Price at $16.60

Shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT - Get Free Report) have been given an average rating of "Moderate Buy" by the six ratings firms that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $16.60.

ARQT has been the topic of a number of analyst reports. Mizuho increased their target price on Arcutis Biotherapeutics from $19.00 to $20.00 and gave the company an "outperform" rating in a report on Tuesday, January 7th. Needham & Company LLC reaffirmed a "buy" rating and set a $18.00 price objective on shares of Arcutis Biotherapeutics in a research note on Thursday, November 7th. HC Wainwright reissued a "buy" rating and issued a $19.00 target price on shares of Arcutis Biotherapeutics in a research note on Monday, January 13th. Finally, Guggenheim reaffirmed a "buy" rating on shares of Arcutis Biotherapeutics in a research note on Monday.

Insider Buying and Selling

In other Arcutis Biotherapeutics news, insider Todd Franklin Watanabe sold 15,000 shares of Arcutis Biotherapeutics stock in a transaction on Friday, December 20th. The shares were sold at an average price of $15.17, for a total value of $227,550.00. Following the transaction, the insider now owns 823,430 shares in the company, valued at $12,491,433.10. This trade represents a 1.79 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Howard G. Welgus sold 10,000 shares of the business's stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $12.51, for a total value of $125,100.00. Following the sale, the director now directly owns 161,944 shares of the company's stock, valued at approximately $2,025,919.44. This trade represents a 5.82 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 72,927 shares of company stock worth $936,675. 9.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Point72 DIFC Ltd purchased a new stake in Arcutis Biotherapeutics during the third quarter worth approximately $25,000. Venturi Wealth Management LLC acquired a new position in shares of Arcutis Biotherapeutics during the 4th quarter valued at $46,000. Cibc World Markets Corp purchased a new stake in Arcutis Biotherapeutics during the 4th quarter worth $140,000. Erste Asset Management GmbH acquired a new stake in Arcutis Biotherapeutics in the 3rd quarter valued at $104,000. Finally, LVW Advisors LLC acquired a new stake in Arcutis Biotherapeutics in the 4th quarter valued at $166,000.

Arcutis Biotherapeutics Price Performance

Shares of ARQT traded down $0.82 during mid-day trading on Monday, reaching $12.39. 3,879,310 shares of the company's stock were exchanged, compared to its average volume of 2,174,323. The company has a quick ratio of 2.38, a current ratio of 2.46 and a debt-to-equity ratio of 0.67. Arcutis Biotherapeutics has a 52-week low of $6.88 and a 52-week high of $16.20. The company has a market cap of $1.45 billion, a price-to-earnings ratio of -6.95 and a beta of 1.29. The company has a 50-day simple moving average of $13.63 and a two-hundred day simple moving average of $11.18.

About Arcutis Biotherapeutics

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.