Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT - Get Free Report) shot up 4.7% during mid-day trading on Tuesday . The stock traded as high as $13.38 and last traded at $13.54. 264,459 shares were traded during mid-day trading, a decline of 89% from the average session volume of 2,399,584 shares. The stock had previously closed at $12.94.
Wall Street Analyst Weigh In
A number of research firms have weighed in on ARQT. HC Wainwright reaffirmed a "buy" rating and issued a $19.00 price objective on shares of Arcutis Biotherapeutics in a research note on Thursday, April 3rd. Jefferies Financial Group raised their target price on Arcutis Biotherapeutics from $16.00 to $19.00 and gave the company a "buy" rating in a report on Tuesday, March 11th. Guggenheim reiterated a "buy" rating on shares of Arcutis Biotherapeutics in a report on Thursday, April 3rd. Needham & Company LLC restated a "buy" rating and set a $20.00 price objective on shares of Arcutis Biotherapeutics in a research note on Wednesday, April 9th. Finally, The Goldman Sachs Group upped their target price 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. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $18.80.
Get Our Latest Research Report on Arcutis Biotherapeutics
Arcutis Biotherapeutics Price Performance
The stock has a market cap of $1.54 billion, a P/E ratio of -7.27 and a beta of 1.67. The business has a 50 day simple moving average of $14.33 and a 200-day simple moving average of $12.72. 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 (NASDAQ:ARQT - Get Free Report) last posted its quarterly earnings results on Tuesday, February 25th. The company reported ($0.09) EPS for the quarter, beating analysts' consensus estimates of ($0.28) by $0.19. Arcutis Biotherapeutics had a negative net margin of 140.97% and a negative return on equity of 119.11%. The firm had revenue of $71.36 million for the quarter, compared to analysts' expectations of $60.52 million. On average, sell-side analysts forecast that Arcutis Biotherapeutics, Inc. will post -1.33 EPS for the current year.
Insider Buying and Selling
In other Arcutis Biotherapeutics news, insider Patrick Burnett sold 12,242 shares of the business's stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $15.04, for a total transaction of $184,119.68. Following the completion of the sale, the insider now owns 121,936 shares of the company's stock, valued at approximately $1,833,917.44. The trade was a 9.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Masaru Matsuda sold 8,338 shares of the firm's stock in a transaction dated Monday, February 3rd. The stock was 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 in the company, valued at $2,269,388.40. This trade represents a 4.46 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 46,099 shares of company stock worth $631,256. 9.50% of the stock is owned by corporate insiders.
Institutional Trading of Arcutis Biotherapeutics
A number of hedge funds and other institutional investors have recently modified their holdings of ARQT. GF Fund Management CO. LTD. bought a new position in Arcutis Biotherapeutics in the 4th quarter worth $34,000. Venturi Wealth Management LLC bought a new position in shares of Arcutis Biotherapeutics in the fourth quarter worth about $46,000. Cibc World Markets Corp purchased a new stake in shares of Arcutis Biotherapeutics during the fourth quarter worth about $140,000. Summit Investment Advisors Inc. raised its stake in Arcutis Biotherapeutics by 8.0% during the 4th quarter. Summit Investment Advisors Inc. now owns 11,245 shares of the company's stock valued at $157,000 after purchasing an additional 837 shares during the period. Finally, LVW Advisors LLC bought a new position in Arcutis Biotherapeutics in the 4th quarter worth approximately $166,000.
About Arcutis Biotherapeutics
(
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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