Analysts Set Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) PT at $13.33

Shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT - Get Free Report) have been assigned an average rating of "Moderate Buy" from the seven brokerages that are presently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $13.33.

ARQT has been the subject of several research reports. Needham & Company LLC reiterated a "buy" rating and set a $18.00 price objective on shares of Arcutis Biotherapeutics in a research report on Thursday, August 15th. Jefferies Financial Group initiated coverage on shares of Arcutis Biotherapeutics in a research report on Wednesday, August 28th. They set a "buy" rating and a $15.00 price objective for the company.

Insider Transactions at Arcutis Biotherapeutics

In other news, SVP Larry Todd Edwards sold 3,725 shares of the firm's stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $10.01, for a total value of $37,287.25. Following the completion of the sale, the senior vice president now owns 136,635 shares in the company, valued at approximately $1,367,716.35. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Larry Todd Edwards sold 3,725 shares of the firm's stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $10.01, for a total value of $37,287.25. Following the completion of the sale, the senior vice president now owns 136,635 shares in the company, valued at approximately $1,367,716.35. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO David Joseph Topper sold 11,626 shares of the firm's stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $9.48, for a total transaction of $110,214.48. Following the completion of the sale, the chief financial officer now owns 158,374 shares of the company's stock, valued at $1,501,385.52. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 52,299 shares of company stock worth $507,911. 9.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Arcutis Biotherapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC lifted its holdings in Arcutis Biotherapeutics by 531.2% during the 2nd quarter. SG Americas Securities LLC now owns 99,161 shares of the company's stock valued at $922,000 after buying an additional 83,452 shares in the last quarter. AMI Asset Management Corp acquired a new stake in Arcutis Biotherapeutics in the 1st quarter worth approximately $3,421,000. Vanguard Group Inc. boosted its stake in Arcutis Biotherapeutics by 5.5% in the 1st quarter. Vanguard Group Inc. now owns 5,166,417 shares of the company's stock worth $51,199,000 after purchasing an additional 269,904 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in Arcutis Biotherapeutics in the 1st quarter worth approximately $1,194,000. Finally, Jennison Associates LLC lifted its stake in Arcutis Biotherapeutics by 34.3% during the 1st quarter. Jennison Associates LLC now owns 12,176,315 shares of the company's stock valued at $120,667,000 after acquiring an additional 3,110,233 shares during the period.

Arcutis Biotherapeutics Price Performance

Shares of NASDAQ:ARQT traded up $0.03 during midday trading on Tuesday, reaching $8.34. 2,551,169 shares of the company were exchanged, compared to its average volume of 3,321,632. The company has a current ratio of 8.46, a quick ratio of 8.19 and a debt-to-equity ratio of 1.09. The business's fifty day moving average is $9.80 and its two-hundred day moving average is $9.44. Arcutis Biotherapeutics has a one year low of $1.76 and a one year high of $13.17. The stock has a market cap of $965.47 million, a PE ratio of -2.85 and a beta of 1.17.

Arcutis Biotherapeutics (NASDAQ:ARQT - Get Free Report) last issued its earnings results on Wednesday, August 14th. The company reported ($0.42) earnings per share for the quarter, topping analysts' consensus estimates of ($0.48) by $0.06. The firm had revenue of $30.86 million during the quarter, compared to analyst estimates of $31.00 million. Arcutis Biotherapeutics had a negative net margin of 150.51% and a negative return on equity of 145.41%. During the same quarter in the prior year, the business earned ($1.16) earnings per share. As a group, analysts predict that Arcutis Biotherapeutics will post -1.56 earnings per share for the current year.

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.