Arcutis Biotherapeutics (NASDAQ:ARQT) Stock Rated Overweight in New Coverage at Cantor Fitzgerald

Cantor Fitzgerald assumed coverage on shares of Arcutis Biotherapeutics (NASDAQ:ARQT) in a research report released on Thursday, MarketBeat.com reports. The firm issued an overweight rating and a $48.00 price objective on the stock.

ARQT has been the topic of a number of other reports. Morgan Stanley lifted their price objective on shares of Arcutis Biotherapeutics from $34.00 to $38.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. Weiss Ratings lowered shares of Arcutis Biotherapeutics from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday. Jefferies Financial Group restated a “buy” rating and set a $39.00 target price on shares of Arcutis Biotherapeutics in a report on Thursday, October 8th. Needham & Company LLC increased their target price on shares of Arcutis Biotherapeutics from $36.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Finally, Guggenheim raised their target price on shares of Arcutis Biotherapeutics from $35.00 to $38.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Eight equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $37.33.

Arcutis Biotherapeutics Stock Down 1.0%

Shares of Arcutis Biotherapeutics stock opened at $28.82 on Thursday. The business’s 50 day simple moving average is $25.45 and its 200 day simple moving average is $24.81. Arcutis Biotherapeutics has a 52-week low of $19.30 and a 52-week high of $31.77. The firm has a market cap of $3.62 billion, a PE ratio of 137.24 and a beta of 1.57. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.67 and a current ratio of 2.92.

Arcutis Biotherapeutics (NASDAQ:ARQT) last released its earnings results on Wednesday, August 5th. The company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.06 by $0.05. Arcutis Biotherapeutics had a return on equity of 15.05% and a net margin of 6.15%. The firm had revenue of $129.86 million for the quarter, compared to analysts’ expectations of $118.85 million. On average, analysts predict that Arcutis Biotherapeutics will post 0.43 earnings per share for the current fiscal year.

Insider Buying and Selling at Arcutis Biotherapeutics

In related news, insider Masaru Matsuda sold 3,674 shares of the company’s stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $25.00, for a total transaction of $91,850.00. Following the sale, the insider owned 112,508 shares in the company, valued at approximately $2,812,700. This represents a 3.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Patrick Burnett sold 6,700 shares of the stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $26.08, for a total value of $174,736.00. Following the transaction, the insider directly owned 119,289 shares of the company’s stock, valued at $3,111,057.12. This trade represents a 5.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 79,225 shares of company stock valued at $2,015,966 in the last ninety days. Insiders own 9.40% of the company’s stock.

Institutional Investors Weigh In On Arcutis Biotherapeutics

Institutional investors and hedge funds have recently made changes to their positions in the stock. State of Alaska Department of Revenue acquired a new stake in shares of Arcutis Biotherapeutics in the third quarter valued at approximately $653,000. Toth Financial Advisory Corp bought a new position in shares of Arcutis Biotherapeutics during the 3rd quarter worth approximately $285,000. Tidal Investments LLC bought a new position in shares of Arcutis Biotherapeutics during the 2nd quarter worth approximately $606,000. Integrated Wealth Concepts LLC bought a new position in shares of Arcutis Biotherapeutics during the 2nd quarter worth approximately $84,000. Finally, Arizona State Retirement System increased its holdings in shares of Arcutis Biotherapeutics by 1.7% during the 2nd quarter. Arizona State Retirement System now owns 30,802 shares of the company’s stock worth $808,000 after acquiring an additional 521 shares during the last quarter.

Arcutis Biotherapeutics Company Profile

Arcutis Biotherapeutics, Inc (NASDAQ: ARQT) is a biopharmaceutical company focused on developing and commercializing treatments for dermatologic conditions. The company concentrates on medical dermatology, with an emphasis on addressing diseases that can significantly affect patients’ quality of life and for which additional treatment options are needed.

Arcutis’s primary commercial product is ZORYVE (roflumilast), a topical phosphodiesterase-4 inhibitor available in multiple formulations.