Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) have received an average rating of “Moderate Buy” from the nine research firms that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $29.20.

A number of equities analysts have recently weighed in on the stock. HC Wainwright reissued a “buy” rating and issued a $30.00 price objective on shares of Arcutis Biotherapeutics in a research report on Wednesday, October 29th. Mizuho boosted their price target on Arcutis Biotherapeutics from $32.00 to $37.00 and gave the company an “outperform” rating in a report on Friday, November 28th. Weiss Ratings reissued a “sell (d-)” rating on shares of Arcutis Biotherapeutics in a research note on Monday, December 29th. The Goldman Sachs Group raised their price objective on Arcutis Biotherapeutics from $19.00 to $29.00 and gave the stock a “neutral” rating in a report on Thursday, October 30th. Finally, Zacks Research lowered Arcutis Biotherapeutics from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 29th.

Arcutis Biotherapeutics Stock Up 4.6%

Shares of NASDAQ:ARQT opened at $27.95 on Friday. The company has a quick ratio of 3.28, a current ratio of 3.50 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $3.42 billion, a P/E ratio of -77.64 and a beta of 1.70. Arcutis Biotherapeutics has a 52-week low of $11.75 and a 52-week high of $31.77. The stock’s fifty day simple moving average is $27.42 and its 200-day simple moving average is $23.29.

Insider Buying and Selling at Arcutis Biotherapeutics

In related news, insider Todd Watanabe sold 48,945 shares of the business’s stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of $30.36, for a total value of $1,485,970.20. Following the completion of the sale, the insider directly owned 740,537 shares in the company, valued at approximately $22,482,703.32. The trade was a 6.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Masaru Matsuda sold 40,638 shares of the company’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $25.28, for a total transaction of $1,027,328.64. Following the transaction, the insider directly owned 110,003 shares of the company’s stock, valued at $2,780,875.84. This trade represents a 26.98% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 198,873 shares of company stock worth $5,576,208. 9.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ARQT. Invesco Ltd. grew its holdings in shares of Arcutis Biotherapeutics by 59.3% during the 4th quarter. Invesco Ltd. now owns 307,382 shares of the company’s stock worth $8,926,000 after purchasing an additional 114,430 shares during the period. Mercer Global Advisors Inc. ADV acquired a new position in Arcutis Biotherapeutics during the fourth quarter valued at approximately $255,000. Mackenzie Financial Corp purchased a new stake in Arcutis Biotherapeutics during the fourth quarter worth approximately $1,374,000. NewEdge Advisors LLC increased its position in shares of Arcutis Biotherapeutics by 209.0% in the fourth quarter. NewEdge Advisors LLC now owns 1,545 shares of the company’s stock worth $45,000 after acquiring an additional 1,045 shares in the last quarter. Finally, XTX Topco Ltd increased its position in shares of Arcutis Biotherapeutics by 557.9% in the fourth quarter. XTX Topco Ltd now owns 74,358 shares of the company’s stock worth $2,159,000 after acquiring an additional 63,055 shares in the last quarter.

About Arcutis Biotherapeutics

Arcutis Biotherapeutics is a clinical-stage biopharmaceutical company focused on developing and commercializing innovative therapies for immuno-inflammatory skin diseases. The company’s research and development efforts center on targeted treatments that address the underlying biology of conditions such as plaque psoriasis, atopic dermatitis, seborrheic dermatitis and vitiligo. Arcutis employs a precision-medicine approach to deliver topical therapies designed to improve efficacy and tolerability compared with existing treatment options.

In August 2022, Arcutis received U.S.