Arcutis Biotherapeutics (NASDAQ:ARQT) Trading Up 13.1% - Time to Buy?

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT - Get Free Report) shares rose 13.1% on Monday . The stock traded as high as $15.01 and last traded at $16.53. Approximately 437,984 shares traded hands during trading, a decline of 82% from the average daily volume of 2,382,324 shares. The stock had previously closed at $14.62.

Analyst Upgrades and Downgrades

ARQT has been the subject of several analyst reports. Needham & Company LLC reissued a "buy" rating and set a $20.00 price target on shares of Arcutis Biotherapeutics in a research report on Wednesday, February 26th. Guggenheim reaffirmed a "buy" rating on shares of Arcutis Biotherapeutics in a research report on Monday, February 24th. HC Wainwright reaffirmed a "buy" rating and issued a $19.00 target price on shares of Arcutis Biotherapeutics in a research report on Wednesday, February 26th. Jefferies Financial Group raised their target price on shares of Arcutis Biotherapeutics from $16.00 to $19.00 and gave the stock a "buy" rating in a research report on Tuesday, March 11th. Finally, Mizuho raised their target price on shares of Arcutis Biotherapeutics from $20.00 to $21.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 26th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $18.80.

Arcutis Biotherapeutics Stock Performance

The firm has a market capitalization of $2.00 billion, a P/E ratio of -9.41 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 business's 50 day simple moving average is $13.61 and its two-hundred day simple moving average is $11.99.

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Arcutis Biotherapeutics (NASDAQ:ARQT - Get Free Report) last released its quarterly earnings data on Tuesday, February 25th. The company reported ($0.09) earnings per share 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 business had revenue of $71.36 million during the quarter, compared to analyst estimates of $60.52 million. Sell-side analysts anticipate that Arcutis Biotherapeutics, Inc. will post -1.33 EPS for the current fiscal year.

Insider Transactions at Arcutis Biotherapeutics

In other news, Director Howard G. Welgus sold 10,000 shares of Arcutis Biotherapeutics stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $14.67, for a total value of $146,700.00. Following the completion of the sale, the director now directly owns 151,944 shares in the company, valued at $2,229,018.48. The trade was a 6.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Patrick Burnett sold 12,242 shares of Arcutis Biotherapeutics stock in a transaction that occurred on 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 $1,833,917.44. This represents a 9.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 56,290 shares of company stock worth $775,350 over the last three months. 9.50% of the stock is currently owned by company insiders.

Institutional Trading of Arcutis Biotherapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC purchased a new stake in Arcutis Biotherapeutics during the fourth quarter valued at approximately $291,000. GF Fund Management CO. LTD. purchased a new stake in Arcutis Biotherapeutics during the fourth quarter valued at approximately $34,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Arcutis Biotherapeutics by 1.2% during 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 valued at $3,902,000 after buying an additional 3,409 shares during the last quarter. Voloridge Investment Management LLC increased 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 valued at $4,053,000 after buying an additional 162,495 shares during the last quarter. Finally, Squarepoint Ops LLC increased its holdings in Arcutis Biotherapeutics by 67.2% during the fourth quarter. Squarepoint Ops LLC now owns 121,392 shares of the company's stock valued at $1,691,000 after buying an additional 48,769 shares during the last quarter.

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.