Arcutis Biotherapeutics (NASDAQ:ARQT) Price Target Raised to $20.00 at Mizuho

Arcutis Biotherapeutics (NASDAQ:ARQT - Free Report) had its target price boosted by Mizuho from $19.00 to $20.00 in a report published on Tuesday morning,Benzinga reports. They currently have an outperform rating on the stock.

Other analysts have also recently issued research reports about the stock. Needham & Company LLC reiterated a "buy" rating and set a $18.00 target price on shares of Arcutis Biotherapeutics in a research report on Thursday, November 7th. HC Wainwright assumed coverage on shares of Arcutis Biotherapeutics in a research report on Monday, December 30th. They set a "buy" rating and a $19.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $16.60.

Arcutis Biotherapeutics Price Performance

Shares of NASDAQ:ARQT traded up $1.05 during trading on Tuesday, reaching $15.76. The stock had a trading volume of 2,996,632 shares, compared to its average volume of 2,087,566. The stock has a market capitalization of $1.84 billion, a PE ratio of -8.80 and a beta of 1.30. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.46 and a quick ratio of 2.38. Arcutis Biotherapeutics has a 52 week low of $3.11 and a 52 week high of $16.20. The business's 50-day moving average price is $12.13 and its 200 day moving average price is $10.56.

Arcutis Biotherapeutics (NASDAQ:ARQT - Get Free Report) last announced its earnings results on Wednesday, November 6th. The company reported ($0.33) earnings per share for the quarter, beating analysts' consensus estimates of ($0.42) by $0.09. The company had revenue of $44.76 million during the quarter, compared to analyst estimates of $38.05 million. Arcutis Biotherapeutics had a negative return on equity of 119.11% and a negative net margin of 140.97%. As a group, equities analysts predict that Arcutis Biotherapeutics will post -1.34 earnings per share for the current year.

Insider Activity at Arcutis Biotherapeutics

In other news, insider Todd Franklin Watanabe sold 15,000 shares of the firm's stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $15.17, for a total transaction of $227,550.00. Following the transaction, the insider now directly owns 823,430 shares of the company's stock, valued at approximately $12,491,433.10. This trade represents a 1.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Masaru Matsuda sold 5,015 shares of the stock in a transaction on Monday, November 4th. The stock was sold at an average price of $8.68, for a total value of $43,530.20. Following the sale, the insider now directly owns 178,273 shares in the company, valued at approximately $1,547,409.64. This trade represents a 2.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 78,291 shares of company stock valued at $927,966. 9.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ARQT. Rubric Capital Management LP increased its position in Arcutis Biotherapeutics by 30.7% in the 2nd quarter. Rubric Capital Management LP now owns 9,816,672 shares of the company's stock valued at $91,295,000 after acquiring an additional 2,306,672 shares during the period. Perceptive Advisors LLC boosted its position in shares of Arcutis Biotherapeutics by 107.8% during the 2nd quarter. Perceptive Advisors LLC now owns 1,558,500 shares of the company's stock worth $14,494,000 after purchasing an additional 808,500 shares in the last quarter. Suvretta Capital Management LLC grew its stake in shares of Arcutis Biotherapeutics by 7.2% in the 3rd quarter. Suvretta Capital Management LLC now owns 10,721,511 shares of the company's stock valued at $99,710,000 after buying an additional 717,019 shares during the period. State Street Corp increased its position in Arcutis Biotherapeutics by 9.9% in the 3rd quarter. State Street Corp now owns 5,641,631 shares of the company's stock valued at $52,467,000 after buying an additional 506,788 shares in the last quarter. Finally, abrdn plc raised its stake in Arcutis Biotherapeutics by 223.8% during the 3rd quarter. abrdn plc now owns 482,074 shares of the company's stock worth $4,483,000 after buying an additional 333,200 shares during the period.

Arcutis Biotherapeutics Company Profile

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.