Arcutis Biotherapeutics (NASDAQ:ARQT - Get Free Report)'s stock had its "buy" rating reaffirmed by equities researchers at HC Wainwright in a research report issued on Monday,Benzinga reports. They currently have a $19.00 target price on the stock. HC Wainwright's price target indicates a potential upside of 39.40% from the company's previous close.
A number of other brokerages have also weighed in on ARQT. Needham & Company LLC restated a "buy" rating and issued a $18.00 target price on shares of Arcutis Biotherapeutics in a research note on Thursday, November 7th. Mizuho boosted their price objective on Arcutis Biotherapeutics from $19.00 to $20.00 and gave the stock an "outperform" rating in a report on Tuesday, January 7th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Arcutis Biotherapeutics currently has a consensus rating of "Moderate Buy" and a consensus target price of $16.60.
View Our Latest Stock Analysis on Arcutis Biotherapeutics
Arcutis Biotherapeutics Price Performance
Shares of ARQT stock traded down $0.18 during trading hours on Monday, reaching $13.63. The stock had a trading volume of 2,323,208 shares, compared to its average volume of 2,087,595. The stock's fifty day simple moving average is $12.50 and its 200 day simple moving average is $10.68. 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 has a market capitalization of $1.60 billion, a PE ratio of -7.61 and a beta of 1.30. Arcutis Biotherapeutics has a 12 month low of $3.11 and a 12 month high of $16.20.
Arcutis Biotherapeutics (NASDAQ:ARQT - Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.33) EPS for the quarter, beating the consensus estimate of ($0.42) by $0.09. The firm had revenue of $44.76 million during the quarter, compared to the consensus estimate of $38.05 million. Arcutis Biotherapeutics had a negative net margin of 140.97% and a negative return on equity of 119.11%. On average, equities research analysts predict that Arcutis Biotherapeutics will post -1.34 EPS for the current year.
Insider Transactions at Arcutis Biotherapeutics
In other Arcutis Biotherapeutics news, insider Todd Franklin Watanabe sold 15,000 shares of the company's stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $15.17, for a total transaction of $227,550.00. Following the completion of the sale, the insider now directly owns 823,430 shares in the company, valued at $12,491,433.10. This represents a 1.79 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Masaru Matsuda sold 5,015 shares of Arcutis Biotherapeutics stock in a transaction dated Monday, November 4th. The stock was 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 owns 178,273 shares in the company, valued at approximately $1,547,409.64. This represents a 2.74 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 78,291 shares of company stock worth $927,966. 9.50% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Arcutis Biotherapeutics
Several institutional investors have recently bought and sold shares of the stock. Point72 DIFC Ltd purchased a new position in shares of Arcutis Biotherapeutics in the third quarter valued at about $25,000. Algert Global LLC purchased a new position in Arcutis Biotherapeutics during the 2nd quarter valued at about $97,000. Erste Asset Management GmbH purchased a new position in Arcutis Biotherapeutics during the 3rd quarter valued at about $104,000. Victory Capital Management Inc. raised its position in Arcutis Biotherapeutics by 9.9% during the 3rd quarter. Victory Capital Management Inc. now owns 12,843 shares of the company's stock valued at $119,000 after purchasing an additional 1,155 shares during the last quarter. Finally, Creative Planning purchased a new stake in Arcutis Biotherapeutics in the 3rd quarter worth approximately $127,000.
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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