Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) have been given an average rating of “Moderate Buy” by the eight brokerages that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $34.00.

ARQT has been the topic of several analyst reports. HC Wainwright upped their price target on shares of Arcutis Biotherapeutics from $30.00 to $34.00 and gave the company a “buy” rating in a report on Thursday, February 26th. Needham & Company LLC reiterated a “buy” rating and set a $36.00 price target on shares of Arcutis Biotherapeutics in a report on Thursday, May 7th. Wall Street Zen downgraded shares of Arcutis Biotherapeutics from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Guggenheim upped their target price on shares of Arcutis Biotherapeutics from $34.00 to $35.00 and gave the stock a “buy” rating in a research note on Friday, February 27th. Finally, TD Cowen upped their target price on shares of Arcutis Biotherapeutics from $30.00 to $35.00 and gave the stock a “buy” rating in a research note on Thursday, February 26th.

Arcutis Biotherapeutics Stock Performance

Shares of NASDAQ:ARQT opened at $27.33 on Thursday. The company has a market capitalization of $3.42 billion, a price-to-earnings ratio of -910.70 and a beta of 1.51. Arcutis Biotherapeutics has a 12 month low of $13.06 and a 12 month high of $31.77. The firm’s 50-day moving average is $22.91 and its 200 day moving average is $25.02. The company has a current ratio of 2.68, a quick ratio of 2.46 and a debt-to-equity ratio of 0.54.

Arcutis Biotherapeutics (NASDAQ:ARQT) last issued its quarterly earnings results on Wednesday, May 6th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.07). The firm had revenue of $105.40 million for the quarter, compared to the consensus estimate of $103.68 million. Arcutis Biotherapeutics had a negative net margin of 0.57% and a negative return on equity of 1.41%. Research analysts predict that Arcutis Biotherapeutics will post 0.15 EPS for the current year.

Insiders Place Their Bets

In other Arcutis Biotherapeutics news, insider Masaru Matsuda sold 8,256 shares of the company’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $23.31, for a total value of $192,447.36. Following the transaction, the insider directly owned 126,689 shares in the company, valued at $2,953,120.59. This represents a 6.12% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Latha Vairavan sold 1,341 shares of the company’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $23.61, for a total transaction of $31,661.01. Following the completion of the sale, the chief financial officer directly owned 86,413 shares of the company’s stock, valued at $2,040,210.93. The trade was a 1.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 40,931 shares of company stock worth $968,886. 9.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Arcutis Biotherapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the company. SBI Securities Co. Ltd. lifted its position in Arcutis Biotherapeutics by 325.4% during the fourth quarter. SBI Securities Co. Ltd. now owns 1,089 shares of the company’s stock valued at $32,000 after acquiring an additional 833 shares during the last quarter. Global Retirement Partners LLC purchased a new stake in Arcutis Biotherapeutics during the fourth quarter valued at approximately $35,000. EverSource Wealth Advisors LLC raised its holdings in shares of Arcutis Biotherapeutics by 124.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,261 shares of the company’s stock worth $37,000 after buying an additional 698 shares during the last quarter. NewEdge Advisors LLC raised its holdings 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 buying an additional 1,045 shares during the last quarter. Finally, Truvestments Capital LLC raised its holdings in shares of Arcutis Biotherapeutics by 114.2% in the fourth quarter. Truvestments Capital LLC now owns 3,012 shares of the company’s stock worth $87,000 after buying an additional 1,606 shares during the last quarter.

Arcutis Biotherapeutics Company Profile

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.