Arcutis Biotherapeutics (NASDAQ:ARQT) Stock Jumps 7% – Should You Buy?

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT)’s stock price rose 7% during mid-day trading on Friday. The company traded as high as $25.86 and last traded at $26.2010. 369,853 shares were traded during trading, a decline of 79% from the average daily volume of 1,785,016 shares. The stock had previously closed at $24.49.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Needham & Company LLC boosted their target price on Arcutis Biotherapeutics from $36.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Guggenheim lifted their price target on shares of Arcutis Biotherapeutics from $35.00 to $38.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Wall Street Zen upgraded shares of Arcutis Biotherapeutics from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 8th. Morgan Stanley boosted their target price on shares of Arcutis Biotherapeutics from $34.00 to $38.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $39.00 price objective on shares of Arcutis Biotherapeutics in a report on Thursday. Seven research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $36.00.

Arcutis Biotherapeutics Stock Performance

The business has a 50-day simple moving average of $25.34 and a 200 day simple moving average of $24.61. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.92 and a quick ratio of 2.67. The firm has a market cap of $3.35 billion, a PE ratio of 126.91 and a beta of 1.57.

Arcutis Biotherapeutics (NASDAQ:ARQT) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.05. Arcutis Biotherapeutics had a return on equity of 15.05% and a net margin of 6.15%.The company had revenue of $129.86 million during the quarter, compared to the consensus estimate of $118.85 million. Equities research analysts forecast that Arcutis Biotherapeutics, Inc. will post 0.42 EPS for the current year.

Insider Transactions at Arcutis Biotherapeutics

In related news, Director Howard Welgus sold 4,730 shares of Arcutis Biotherapeutics stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $26.18, for a total value of $123,831.40. Following the completion of the transaction, the director owned 36,475 shares in the company, valued at approximately $954,915.50. This trade represents a 11.48% 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 company’s 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 sale, the insider owned 119,289 shares in the company, valued at approximately $3,111,057.12. This trade represents a 5.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 79,225 shares of company stock worth $2,015,966. 9.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Arcutis Biotherapeutics

Several institutional investors and hedge funds have recently made changes to their positions in the business. Nykredit A S bought a new stake in Arcutis Biotherapeutics during the 2nd quarter valued at about $63,000. Integrated Wealth Concepts LLC purchased a new stake in shares of Arcutis Biotherapeutics in the second quarter valued at approximately $84,000. KBC Group NV grew its stake in Arcutis Biotherapeutics by 43.2% in the first quarter. KBC Group NV now owns 4,376 shares of the company’s stock worth $103,000 after purchasing an additional 1,321 shares in the last quarter. Independent Financial Group LLC bought a new stake in Arcutis Biotherapeutics during the 1st quarter valued at $210,000. Finally, Amundi purchased a new stake in shares of Arcutis Biotherapeutics in the 1st quarter worth $214,000.

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.