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

Shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) have been assigned a consensus rating of “Moderate Buy” from the seven ratings firms that are covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $13.33.

A number of equities research analysts recently commented on ARQT shares. Jefferies Financial Group initiated coverage on shares of Arcutis Biotherapeutics in a report on Wednesday, August 28th. They set a “buy” rating and a $15.00 price target for the company. Needham & Company LLC reissued a “buy” rating and set a $18.00 price target on shares of Arcutis Biotherapeutics in a research report on Thursday, August 15th.

Arcutis Biotherapeutics Stock Up 2.7 %

ARQT opened at $9.55 on Friday. The company has a quick ratio of 8.19, a current ratio of 8.46 and a debt-to-equity ratio of 1.09. The business’s fifty day simple moving average is $9.82 and its 200 day simple moving average is $9.50. Arcutis Biotherapeutics has a 52 week low of $1.76 and a 52 week high of $13.17. The stock has a market cap of $1.11 billion, a PE ratio of -3.26 and a beta of 1.18.

Arcutis Biotherapeutics (NASDAQ:ARQT) last announced its quarterly earnings data 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. Arcutis Biotherapeutics had a negative net margin of 150.51% and a negative return on equity of 145.41%. The firm had revenue of $30.86 million during the quarter, compared to analyst estimates of $31.00 million. During the same period in the previous year, the business posted ($1.16) EPS. As a group, research analysts expect that Arcutis Biotherapeutics will post -1.56 earnings per share for the current fiscal year.

Insider Buying and Selling at Arcutis Biotherapeutics

In other Arcutis Biotherapeutics news, insider Masaru Matsuda sold 5,220 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $9.02, for a total value of $47,084.40. Following the completion of the transaction, the insider now owns 183,288 shares of the company’s stock, valued at approximately $1,653,257.76. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, CFO David Joseph Topper sold 11,626 shares of the firm’s stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $9.48, for a total value of $110,214.48. Following the transaction, the chief financial officer now directly owns 158,374 shares in the company, valued at approximately $1,501,385.52. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Masaru Matsuda sold 5,220 shares of Arcutis Biotherapeutics stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $9.02, for a total value of $47,084.40. Following the completion of the sale, the insider now directly owns 183,288 shares of the company’s stock, valued at approximately $1,653,257.76. The disclosure for this sale can be found here. In the last three months, insiders have sold 38,574 shares of company stock worth $378,024. Insiders own 9.50% of the company’s stock.

Institutional Investors Weigh In On Arcutis Biotherapeutics

Large investors have recently made changes to their positions in the company. Pennant Investors LP purchased a new position in shares of Arcutis Biotherapeutics in the fourth quarter worth approximately $552,000. SG Americas Securities LLC grew its position in shares of 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 acquiring an additional 83,452 shares during the period. AMI Asset Management Corp bought a new stake in shares of Arcutis Biotherapeutics during the 1st quarter valued at $3,421,000. ADAR1 Capital Management LLC purchased a new stake in shares of Arcutis Biotherapeutics in the 4th quarter worth $888,000. Finally, Vanguard Group Inc. raised its holdings 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 during the period.

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.