Brokerages Set Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) PT at $16.60

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) has earned a consensus rating of “Moderate Buy” from the six brokerages that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $16.60.

A number of brokerages have weighed in on ARQT. Mizuho upped their price objective on shares of Arcutis Biotherapeutics from $19.00 to $20.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 7th. Guggenheim reiterated a “buy” rating on shares of Arcutis Biotherapeutics in a report on Monday. Needham & Company LLC reiterated a “buy” rating and set a $18.00 price target on shares of Arcutis Biotherapeutics in a research note on Thursday, November 7th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $19.00 target price on shares of Arcutis Biotherapeutics in a report on Monday, January 13th.

Insider Buying and Selling

In other Arcutis Biotherapeutics news, insider Masaru Matsuda sold 8,338 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $12.70, for a total transaction of $105,892.60. Following the transaction, the insider now owns 178,692 shares in the company, valued at $2,269,388.40. This trade represents a 4.46 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Patrick Burnett sold 16,023 shares of the firm’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $10.14, for a total value of $162,473.22. Following the completion of the transaction, the insider now owns 128,669 shares in the company, valued at $1,304,703.66. The trade was a 11.07 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 72,927 shares of company stock valued at $936,675. 9.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Arcutis Biotherapeutics

Hedge funds have recently added to or reduced their stakes in the business. Point72 DIFC Ltd purchased a new stake in Arcutis Biotherapeutics in the 3rd quarter valued at $25,000. Venturi Wealth Management LLC purchased a new position in shares of Arcutis Biotherapeutics during the 4th quarter valued at about $46,000. Erste Asset Management GmbH purchased a new position in Arcutis Biotherapeutics in the 3rd quarter worth approximately $104,000. Victory Capital Management Inc. increased its stake in Arcutis Biotherapeutics by 9.9% in the 3rd quarter. Victory Capital Management Inc. now owns 12,843 shares of the company’s stock worth $119,000 after purchasing an additional 1,155 shares during the period. Finally, Creative Planning bought a new stake in shares of Arcutis Biotherapeutics in the 3rd quarter worth approximately $127,000.

Arcutis Biotherapeutics Price Performance

Shares of ARQT opened at $13.21 on Monday. The firm has a market capitalization of $1.55 billion, a PE ratio of -7.38 and a beta of 1.29. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.46 and a quick ratio of 2.38. Arcutis Biotherapeutics has a 1-year low of $6.05 and a 1-year high of $16.20. The company’s fifty day moving average price is $13.63 and its 200-day moving average price is $11.18.

Arcutis Biotherapeutics Company Profile

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.