Arcutis Biotherapeutics (NASDAQ:ARQT) Shares Gap Up - What's Next?

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT - Get Free Report)'s share price gapped up before the market opened on Monday . The stock had previously closed at $13.81, but opened at $14.99. Arcutis Biotherapeutics shares last traded at $13.39, with a volume of 411,596 shares.

Analysts Set New Price Targets

Several brokerages have issued reports on ARQT. HC Wainwright reiterated a "buy" rating and set a $19.00 target price on shares of Arcutis Biotherapeutics in a report on Monday. Mizuho increased their target price on shares of Arcutis Biotherapeutics from $19.00 to $20.00 and gave the stock an "outperform" rating in a report on Tuesday, January 7th. Finally, Needham & Company LLC restated a "buy" rating and issued a $18.00 price target on shares of Arcutis Biotherapeutics in a report on Thursday, November 7th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $16.60.

Arcutis Biotherapeutics Stock Performance

The company has a market cap of $1.60 billion, a PE ratio of -7.61 and a beta of 1.30. 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 50-day simple moving average is $12.50 and its two-hundred day simple moving average is $10.68.

Arcutis Biotherapeutics (NASDAQ:ARQT - Get Free Report) last released its earnings results 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 net margin of 140.97% and a negative return on equity of 119.11%. The company had revenue of $44.76 million for the quarter, compared to the consensus estimate of $38.05 million. As a group, research analysts anticipate that Arcutis Biotherapeutics, Inc. will post -1.34 earnings per share for the current fiscal year.

Insider Buying and Selling at Arcutis Biotherapeutics

In related news, insider Masaru Matsuda sold 5,015 shares of the business's stock in a transaction on Monday, November 4th. The shares were sold at an average price of $8.68, for a total value of $43,530.20. Following the completion of the transaction, the insider now directly owns 178,273 shares in the company, valued at $1,547,409.64. The trade was a 2.74 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Howard G. Welgus sold 10,000 shares of the business's stock in a transaction on Friday, November 1st. The shares were sold at an average price of $8.65, for a total transaction of $86,500.00. Following the completion of the transaction, the director now owns 171,944 shares of the company's stock, valued at approximately $1,487,315.60. This represents a 5.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 78,291 shares of company stock worth $927,966. Company insiders own 9.50% of the company's stock.

Institutional Investors Weigh In On Arcutis Biotherapeutics

A number of large investors have recently modified their holdings of ARQT. Point72 DIFC Ltd purchased a new stake in shares of Arcutis Biotherapeutics during the third quarter worth $25,000. Algert Global LLC purchased a new stake in shares of Arcutis Biotherapeutics during the second quarter worth $97,000. Erste Asset Management GmbH purchased a new stake in shares of Arcutis Biotherapeutics during the third quarter worth $104,000. Victory Capital Management Inc. grew its holdings in shares of Arcutis Biotherapeutics by 9.9% during the third quarter. Victory Capital Management Inc. now owns 12,843 shares of the company's stock worth $119,000 after buying an additional 1,155 shares in the last quarter. Finally, Creative Planning purchased a new stake in shares of Arcutis Biotherapeutics in the third quarter valued at about $127,000.

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.