Arcutis Biotherapeutics (NASDAQ:ARQT) Hits New 52-Week High - Should You Buy?

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Friday . The company traded as high as $13.50 and last traded at $13.07, with a volume of 1972404 shares changing hands. The stock had previously closed at $11.71.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Jefferies Financial Group began coverage on Arcutis Biotherapeutics in a research note on Wednesday, August 28th. They issued a "buy" rating and a $15.00 target price for the company. Needham & Company LLC reaffirmed a "buy" rating and set a $18.00 price objective on shares of Arcutis Biotherapeutics in a research report on Thursday, November 7th.

Arcutis Biotherapeutics Stock Up 11.4 %

The company has a debt-to-equity ratio of 0.67, a current ratio of 2.46 and a quick ratio of 2.38. The company has a market capitalization of $1.53 billion, a price-to-earnings ratio of -7.28 and a beta of 1.18. The firm has a 50-day moving average price of $9.71 and a two-hundred day moving average price of $9.55.

Arcutis Biotherapeutics (NASDAQ:ARQT - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.33) earnings per share for the quarter, topping the consensus estimate of ($0.42) by $0.09. Arcutis Biotherapeutics had a negative return on equity of 119.11% and a negative net margin of 140.97%. The company had revenue of $44.76 million during the quarter, compared to analysts' expectations of $38.05 million. As a group, sell-side analysts anticipate that Arcutis Biotherapeutics, Inc. will post -1.34 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Patrick Burnett sold 16,023 shares of the company's stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $10.14, for a total transaction of $162,473.22. Following the sale, the insider now owns 128,669 shares in the company, valued at approximately $1,304,703.66. This represents a 11.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Howard G. Welgus sold 10,000 shares of the company's stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $10.77, for a total value of $107,700.00. Following the sale, the director now owns 191,944 shares in the company, valued at $2,067,236.88. The trade was a 4.95 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 76,951 shares of company stock worth $752,744. Corporate insiders own 9.50% of the company's stock.

Institutional Trading of Arcutis Biotherapeutics

Institutional investors and hedge funds have recently bought and sold shares of the business. Point72 DIFC Ltd bought a new stake in Arcutis Biotherapeutics in the third quarter valued at approximately $25,000. CWM LLC raised its stake in Arcutis Biotherapeutics by 6,740.0% in the second quarter. CWM LLC now owns 4,104 shares of the company's stock valued at $38,000 after buying an additional 4,044 shares during the period. Algert Global LLC bought a new stake in Arcutis Biotherapeutics in the second quarter valued at approximately $97,000. Erste Asset Management GmbH bought a new stake in Arcutis Biotherapeutics in the third quarter valued at approximately $104,000. Finally, Victory Capital Management Inc. raised its stake in Arcutis Biotherapeutics by 9.9% in the third quarter. Victory Capital Management Inc. now owns 12,843 shares of the company's stock valued at $119,000 after buying an additional 1,155 shares during the period.

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.