Analysts Set Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) PT at $18.00

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) has been assigned an average recommendation of “Moderate Buy” from the six analysts that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $18.80.

ARQT has been the topic of several analyst reports. HC Wainwright reiterated a “buy” rating and set a $19.00 target price on shares of Arcutis Biotherapeutics in a research report on Wednesday, February 26th. Mizuho boosted their price objective on Arcutis Biotherapeutics from $20.00 to $21.00 and gave the company an “outperform” rating in a research report on Wednesday, February 26th. Jefferies Financial Group boosted their price objective on Arcutis Biotherapeutics from $16.00 to $19.00 and gave the company a “buy” rating in a research report on Tuesday. Guggenheim restated a “buy” rating on shares of Arcutis Biotherapeutics in a research report on Monday, February 24th. Finally, Needham & Company LLC restated a “buy” rating and issued a $20.00 price objective on shares of Arcutis Biotherapeutics in a research report on Wednesday, February 26th.

Arcutis Biotherapeutics Stock Performance

Shares of ARQT opened at $15.49 on Friday. 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 one year low of $6.99 and a one year high of $16.20. The firm has a market capitalization of $1.84 billion, a P/E ratio of -8.65 and a beta of 1.48. The business has a fifty day moving average of $13.45 and a 200 day moving average of $11.72.

Arcutis Biotherapeutics (NASDAQ:ARQT) last issued its quarterly earnings data on Tuesday, February 25th. The company reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.28) by $0.19. The company had revenue of $71.36 million during the quarter, compared to analyst estimates of $60.52 million. Arcutis Biotherapeutics had a negative return on equity of 119.11% and a negative net margin of 140.97%. As a group, sell-side analysts anticipate that Arcutis Biotherapeutics will post -1.33 EPS for the current year.

Insider Buying and Selling

In other Arcutis Biotherapeutics news, insider Patrick Burnett sold 2,819 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $13.03, for a total transaction of $36,731.57. Following the sale, the insider now directly owns 167,043 shares of the company’s stock, valued at $2,176,570.29. The trade was a 1.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Howard G. Welgus sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $13.00, for a total value of $130,000.00. Following the sale, the director now directly owns 131,944 shares in the company, valued at $1,715,272. The trade was a 7.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 57,848 shares of company stock worth $797,648. Corporate insiders own 9.50% of the company’s stock.

Institutional Investors Weigh In On Arcutis Biotherapeutics

Several large investors have recently added to or reduced their stakes in the stock. Summit Investment Advisors Inc. increased its stake in Arcutis Biotherapeutics by 8.0% during the fourth quarter. Summit Investment Advisors Inc. now owns 11,245 shares of the company’s stock worth $157,000 after acquiring an additional 837 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of Arcutis Biotherapeutics by 9.9% during the third quarter. Victory Capital Management Inc. now owns 12,843 shares of the company’s stock valued at $119,000 after buying an additional 1,155 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its stake in shares of Arcutis Biotherapeutics by 10.4% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 24,818 shares of the company’s stock valued at $346,000 after buying an additional 2,336 shares during the last quarter. GF Fund Management CO. LTD. bought a new position in shares of Arcutis Biotherapeutics during the fourth quarter valued at approximately $34,000. Finally, Point72 DIFC Ltd bought a new position in shares of Arcutis Biotherapeutics during the third quarter valued at approximately $25,000.

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.