Arcutis Biotherapeutics (NASDAQ:ARQT) Now Covered by Analysts at HC Wainwright

Research analysts at HC Wainwright assumed coverage on shares of Arcutis Biotherapeutics (NASDAQ:ARQT - Get Free Report) in a report released on Monday, Marketbeat reports. The brokerage set a "buy" rating and a $19.00 price target on the stock. HC Wainwright's target price points to a potential upside of 33.80% from the stock's previous close.

Separately, Needham & Company LLC reissued a "buy" rating and set a $18.00 price objective on shares of Arcutis Biotherapeutics in a research note on Thursday, November 7th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $16.20.

Arcutis Biotherapeutics Price Performance

ARQT stock traded down $0.10 on Monday, reaching $14.20. The company had a trading volume of 1,650,803 shares, compared to its average volume of 3,107,798. The company's fifty day moving average is $11.28 and its 200 day moving average is $10.26. The company has a market cap of $1.66 billion, a P/E ratio of -7.93 and a beta of 1.32. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.38 and a current ratio of 2.46. Arcutis Biotherapeutics has a 1 year low of $3.07 and a 1 year high of $15.79.

Arcutis Biotherapeutics (NASDAQ:ARQT - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.33) EPS for the quarter, beating analysts' consensus estimates of ($0.42) by $0.09. The business had revenue of $44.76 million for the quarter, compared to analyst estimates of $38.05 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 -1.34 earnings per share for the current year.

Insider Activity at Arcutis Biotherapeutics

In other news, insider Todd Franklin Watanabe sold 15,000 shares of the business's stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $15.17, for a total transaction of $227,550.00. Following the completion of the sale, the insider now owns 823,430 shares in the company, valued at approximately $12,491,433.10. The trade was a 1.79 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Howard G. Welgus sold 10,000 shares of the firm's stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $12.51, for a total transaction of $125,100.00. Following the completion of the transaction, the director now owns 161,944 shares in the company, valued at $2,025,919.44. The trade was a 5.82 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 80,325 shares of company stock worth $887,480. 9.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Arcutis Biotherapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Point72 DIFC Ltd acquired a new stake in Arcutis Biotherapeutics in the 3rd quarter valued at $25,000. Algert Global LLC acquired a new stake in shares of Arcutis Biotherapeutics in the second quarter valued at about $97,000. Erste Asset Management GmbH purchased a new stake in shares of Arcutis Biotherapeutics during the 3rd quarter valued at about $104,000. Victory Capital Management Inc. lifted its position in Arcutis Biotherapeutics by 9.9% during the 3rd quarter. Victory Capital Management Inc. now owns 12,843 shares of the company's stock worth $119,000 after acquiring an additional 1,155 shares in the last quarter. Finally, Creative Planning purchased a new position in Arcutis Biotherapeutics in the 3rd quarter worth approximately $127,000.

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.