Guggenheim Reaffirms "Buy" Rating for Arcutis Biotherapeutics (NASDAQ:ARQT)

Guggenheim restated their buy rating on shares of Arcutis Biotherapeutics (NASDAQ:ARQT - Free Report) in a research report released on Thursday morning,Benzinga reports.

Several other equities research analysts also recently weighed in on ARQT. Needham & Company LLC reaffirmed a "buy" rating and issued a $20.00 price objective on shares of Arcutis Biotherapeutics in a report on Thursday. The Goldman Sachs Group upped their price target on shares of Arcutis Biotherapeutics from $13.00 to $15.00 and gave the stock a "neutral" rating in a research note on Thursday, February 27th. HC Wainwright reiterated a "buy" rating and set a $19.00 price objective on shares of Arcutis Biotherapeutics in a research note on Thursday. Mizuho upped their target price on Arcutis Biotherapeutics from $20.00 to $21.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 26th. Finally, Jefferies Financial Group lifted their price target on Arcutis Biotherapeutics from $16.00 to $19.00 and gave the company a "buy" rating in a research report on Tuesday, March 11th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Arcutis Biotherapeutics has a consensus rating of "Moderate Buy" and a consensus target price of $18.80.

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Arcutis Biotherapeutics Stock Performance

NASDAQ ARQT traded down $0.43 on Thursday, hitting $14.30. The stock had a trading volume of 3,016,896 shares, compared to its average volume of 2,417,743. The company's 50-day moving average is $14.20 and its two-hundred day moving average is $12.44. The stock has a market cap of $1.70 billion, a price-to-earnings ratio of -7.99 and a beta of 1.67. 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 one year low of $6.99 and a one year high of $17.75.

Arcutis Biotherapeutics (NASDAQ:ARQT - Get Free Report) last posted its 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 for the quarter, compared to analysts' expectations of $60.52 million. On average, analysts expect that Arcutis Biotherapeutics will post -1.33 earnings per share for the current year.

Insiders Place Their Bets

In other Arcutis Biotherapeutics news, insider Todd Franklin Watanabe sold 1,500 shares of the business's stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $17.52, for a total value of $26,280.00. Following the completion of the sale, the insider now owns 927,414 shares of the company's stock, valued at $16,248,293.28. The trade was a 0.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Patrick Burnett sold 12,242 shares of the company's stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $15.04, for a total value of $184,119.68. Following the sale, the insider now owns 121,936 shares of the company's stock, valued at approximately $1,833,917.44. This trade represents a 9.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 46,099 shares of company stock worth $631,256 in the last quarter. 9.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Arcutis Biotherapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the company. Point72 DIFC Ltd acquired a new position in Arcutis Biotherapeutics in the 3rd quarter valued at $25,000. GF Fund Management CO. LTD. acquired a new position in Arcutis Biotherapeutics during the 4th quarter worth $34,000. Venturi Wealth Management LLC bought a new stake in Arcutis Biotherapeutics during the fourth quarter valued at about $46,000. Erste Asset Management GmbH acquired a new stake in shares of Arcutis Biotherapeutics in the third quarter valued at about $104,000. Finally, Cibc World Markets Corp bought a new position in shares of Arcutis Biotherapeutics in the fourth quarter worth about $140,000.

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.