Arcutis Biotherapeutics (NASDAQ:ARQT) Trading Up 12.5% - Should You Buy?

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT - Get Free Report) shares were up 12.5% during mid-day trading on Wednesday . The company traded as high as $17.05 and last traded at $16.85. Approximately 2,551,764 shares changed hands during mid-day trading, an increase of 6% from the average daily volume of 2,413,672 shares. The stock had previously closed at $14.98.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ARQT. The Goldman Sachs Group increased their price target on shares of Arcutis Biotherapeutics from $13.00 to $15.00 and gave the stock a "neutral" rating in a research report on Thursday, February 27th. Guggenheim reaffirmed a "buy" rating on shares of Arcutis Biotherapeutics in a research note on Thursday. Mizuho boosted their price objective on Arcutis Biotherapeutics from $20.00 to $21.00 and gave the company an "outperform" rating in a research note on Wednesday, February 26th. Jefferies Financial Group lifted their price target on shares of Arcutis Biotherapeutics from $16.00 to $19.00 and gave the company a "buy" rating in a report on Tuesday, March 11th. Finally, Needham & Company LLC restated a "buy" rating and set a $20.00 price objective on shares of Arcutis Biotherapeutics in a research report on Thursday. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $18.80.

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Arcutis Biotherapeutics Price Performance

The firm has a market cap of $1.70 billion, a P/E ratio of -7.99 and a beta of 1.67. The firm's fifty day simple moving average is $14.20 and its 200 day simple moving average is $12.44. 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 released its quarterly earnings results on Tuesday, February 25th. The company reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.28) by $0.19. The business had revenue of $71.36 million during the quarter, compared to analysts' expectations of $60.52 million. Arcutis Biotherapeutics had a negative return on equity of 119.11% and a negative net margin of 140.97%. As a group, analysts forecast that Arcutis Biotherapeutics, Inc. will post -1.33 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Todd Franklin Watanabe sold 1,500 shares of the company's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $17.52, for a total transaction of $26,280.00. Following the transaction, the insider now owns 927,414 shares of the company's stock, valued at approximately $16,248,293.28. This represents a 0.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Patrick Burnett sold 12,242 shares of Arcutis Biotherapeutics stock in a transaction on Friday, March 14th. The stock was sold at an average price of $15.04, for a total value of $184,119.68. Following the sale, the insider now owns 121,936 shares of the company's stock, valued at approximately $1,833,917.44. This trade represents a 9.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 46,099 shares of company stock valued at $631,256. Company insiders own 9.50% of the company's stock.

Institutional Trading of Arcutis Biotherapeutics

Several institutional investors and hedge funds have recently modified their holdings of the stock. Summit Investment Advisors Inc. increased its holdings in Arcutis Biotherapeutics by 8.0% during the 4th quarter. Summit Investment Advisors Inc. now owns 11,245 shares of the company's stock worth $157,000 after purchasing an additional 837 shares during the period. China Universal Asset Management Co. Ltd. increased its position in Arcutis Biotherapeutics by 10.4% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 24,818 shares of the company's stock valued at $346,000 after purchasing an additional 2,336 shares during the period. GF Fund Management CO. LTD. bought a new position in shares of Arcutis Biotherapeutics during the fourth quarter valued at approximately $34,000. Point72 DIFC Ltd purchased a new stake in shares of Arcutis Biotherapeutics during the 3rd quarter worth $25,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Arcutis Biotherapeutics by 1.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 276,691 shares of the company's stock worth $2,573,000 after acquiring an additional 2,912 shares in 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.