Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT - Get Free Report) shares hit a new 52-week high during trading on Tuesday . The company traded as high as $17.75 and last traded at $17.42, with a volume of 568999 shares trading hands. The stock had previously closed at $17.29.
Analyst Upgrades and Downgrades
A number of research firms have recently weighed in on ARQT. Guggenheim restated a "buy" rating on shares of Arcutis Biotherapeutics in a research report on Monday, February 24th. Mizuho boosted their price target on shares of Arcutis Biotherapeutics from $20.00 to $21.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 26th. The Goldman Sachs Group lifted their target price 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. HC Wainwright restated a "buy" rating and issued a $19.00 price target on shares of Arcutis Biotherapeutics in a research report on Wednesday, February 26th. Finally, Jefferies Financial Group upped their price objective on Arcutis Biotherapeutics from $16.00 to $19.00 and gave the company a "buy" rating in a 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. According to MarketBeat, Arcutis Biotherapeutics currently has an average rating of "Moderate Buy" and an average target price of $18.80.
Check Out Our Latest Report on ARQT
Arcutis Biotherapeutics Stock Down 2.2 %
The company has a market cap of $1.87 billion, a price-to-earnings ratio of -8.79 and a beta of 1.48. 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 firm's fifty day moving average price is $13.98 and its 200-day moving average price is $12.24.
Arcutis Biotherapeutics (NASDAQ:ARQT - Get Free Report) last announced its quarterly earnings results on Tuesday, February 25th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping 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 company had revenue of $71.36 million during the quarter, compared to the consensus estimate of $60.52 million. Sell-side analysts predict that Arcutis Biotherapeutics, Inc. will post -1.33 earnings per share for the current year.
Insiders Place Their Bets
In related news, insider Masaru Matsuda sold 8,338 shares of the company's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $12.70, for a total value of $105,892.60. Following the completion of the transaction, the insider now directly owns 178,692 shares of the company's stock, valued at approximately $2,269,388.40. This represents a 4.46 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Howard G. Welgus sold 10,000 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $14.67, for a total value of $146,700.00. Following the transaction, the director now owns 151,944 shares of the company's stock, valued at approximately $2,229,018.48. This trade represents a 6.17 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 57,790 shares of company stock worth $801,630. Company insiders own 9.50% of the company's stock.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC acquired a new stake in Arcutis Biotherapeutics in the 4th quarter valued at approximately $291,000. GF Fund Management CO. LTD. acquired a new stake in shares of Arcutis Biotherapeutics in the fourth quarter valued at approximately $34,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Arcutis Biotherapeutics by 1.2% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 280,100 shares of the company's stock worth $3,902,000 after purchasing an additional 3,409 shares in the last quarter. Voloridge Investment Management LLC boosted its holdings in Arcutis Biotherapeutics by 126.5% during the fourth quarter. Voloridge Investment Management LLC now owns 290,938 shares of the company's stock worth $4,053,000 after purchasing an additional 162,495 shares during the last quarter. Finally, Squarepoint Ops LLC grew its position in Arcutis Biotherapeutics by 67.2% in the fourth quarter. Squarepoint Ops LLC now owns 121,392 shares of the company's stock valued at $1,691,000 after purchasing an additional 48,769 shares in the last quarter.
Arcutis Biotherapeutics Company Profile
(
Get Free Report)
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.
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