Arcutis Biotherapeutics (NASDAQ:ARQT) Receives "Buy" Rating from HC Wainwright

Arcutis Biotherapeutics (NASDAQ:ARQT - Get Free Report)'s stock had its "buy" rating restated by investment analysts at HC Wainwright in a research report issued on Thursday,Benzinga reports. They currently have a $19.00 price target on the stock. HC Wainwright's price objective would suggest a potential upside of 39.65% from the stock's current price.

Other equities research analysts also recently issued research reports about the company. The Goldman Sachs Group lifted their target price on Arcutis Biotherapeutics from $13.00 to $15.00 and gave the stock a "neutral" rating in a report on Thursday, February 27th. Jefferies Financial Group lifted their price objective on shares of Arcutis Biotherapeutics from $16.00 to $19.00 and gave the stock a "buy" rating in a research note on Tuesday, March 11th. Mizuho increased 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. Guggenheim reiterated a "buy" rating on shares of Arcutis Biotherapeutics in a research report on Monday, February 24th. Finally, 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. One investment 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 company presently has a consensus rating of "Moderate Buy" and a consensus price target of $18.80.

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Arcutis Biotherapeutics Stock Performance

ARQT traded down $0.70 on Thursday, reaching $13.61. The company had a trading volume of 981,766 shares, compared to its average volume of 2,412,479. The company's fifty day moving average is $14.21 and its 200 day moving average is $12.47. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.38 and a current ratio of 2.46. The stock has a market cap of $1.61 billion, a P/E ratio of -7.58 and a beta of 1.67. Arcutis Biotherapeutics has a fifty-two week low of $6.99 and a fifty-two week high of $17.75.

Arcutis Biotherapeutics (NASDAQ:ARQT - Get Free Report) last announced its earnings results on Tuesday, February 25th. The company reported ($0.09) earnings per share for the quarter, topping analysts' consensus estimates of ($0.28) by $0.19. The company had revenue of $71.36 million for the quarter, compared to analyst estimates 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 predict that Arcutis Biotherapeutics will post -1.33 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Arcutis Biotherapeutics news, insider Todd Franklin Watanabe sold 1,500 shares of the business's stock in a transaction on Monday, March 24th. The shares were sold at an average price of $17.52, for a total transaction of $26,280.00. Following the sale, the insider now owns 927,414 shares of the company's stock, valued at approximately $16,248,293.28. The trade was 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 the SEC website. Also, Director Howard G. Welgus sold 10,000 shares of the company's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $12.71, for a total value of $127,100.00. Following the completion of the transaction, the director now directly owns 141,944 shares of the company's stock, valued at approximately $1,804,108.24. The trade was a 6.58 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 46,099 shares of company stock worth $631,256. Corporate insiders own 9.50% of the company's stock.

Institutional Investors Weigh In On Arcutis Biotherapeutics

Institutional investors have recently made changes to their positions in the stock. Point72 Asset Management L.P. lifted its holdings in Arcutis Biotherapeutics by 617.5% in the fourth quarter. Point72 Asset Management L.P. now owns 1,753,522 shares of the company's stock valued at $24,427,000 after buying an additional 1,509,136 shares during the period. Cercano Management LLC bought a new stake in Arcutis Biotherapeutics during the 4th quarter valued at $17,487,000. Millennium Management LLC boosted its stake in Arcutis Biotherapeutics by 101.3% during the 4th quarter. Millennium Management LLC now owns 2,310,163 shares of the company's stock valued at $32,181,000 after purchasing an additional 1,162,690 shares during the last quarter. Driehaus Capital Management LLC bought a new position in shares of Arcutis Biotherapeutics in the fourth quarter valued at approximately $15,278,000. Finally, D. E. Shaw & Co. Inc. raised its position in Arcutis Biotherapeutics by 44.0% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 2,513,577 shares of the company's stock valued at $35,014,000 after buying an additional 768,553 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.