Intech Investment Management LLC Has $589,000 Position in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT)

Intech Investment Management LLC increased its position in shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) by 13.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 42,258 shares of the company’s stock after acquiring an additional 5,168 shares during the quarter. Intech Investment Management LLC’s holdings in Arcutis Biotherapeutics were worth $589,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Point72 DIFC Ltd bought a new position in shares of Arcutis Biotherapeutics during the third quarter worth $25,000. Venturi Wealth Management LLC bought a new position in Arcutis Biotherapeutics during the fourth quarter worth about $46,000. Cibc World Markets Corp acquired a new position in Arcutis Biotherapeutics in the fourth quarter valued at about $140,000. Erste Asset Management GmbH bought a new stake in shares of Arcutis Biotherapeutics in the third quarter worth about $104,000. Finally, LVW Advisors LLC acquired a new stake in Arcutis Biotherapeutics during the 4th quarter worth approximately $166,000.

Insider Activity at Arcutis Biotherapeutics

In other news, Director Howard G. Welgus sold 10,000 shares of Arcutis Biotherapeutics stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $14.67, for a total transaction of $146,700.00. Following the completion of the transaction, the director now directly owns 151,944 shares in the company, valued at approximately $2,229,018.48. The trade was a 6.17 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Masaru Matsuda sold 8,338 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $12.70, for a total transaction of $105,892.60. Following the completion of the transaction, the insider now owns 178,692 shares in the company, valued at approximately $2,269,388.40. This represents a 4.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 56,290 shares of company stock worth $775,350. Insiders own 9.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Jefferies Financial Group upped their target price on shares of Arcutis Biotherapeutics from $16.00 to $19.00 and gave the stock a “buy” rating in a research note on Tuesday, March 11th. HC Wainwright reiterated a “buy” rating and set a $19.00 price objective on shares of Arcutis Biotherapeutics in a report on Wednesday, February 26th. Guggenheim restated a “buy” rating on shares of Arcutis Biotherapeutics in a research note on Monday, February 24th. Needham & Company LLC reaffirmed a “buy” rating and set a $20.00 price target on shares of Arcutis Biotherapeutics in a research note on Wednesday, February 26th. Finally, Mizuho lifted their price objective on shares of Arcutis Biotherapeutics from $20.00 to $21.00 and gave the company an “outperform” rating in a report on Wednesday, February 26th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $18.80.

Arcutis Biotherapeutics Trading Up 1.6 %

Shares of Arcutis Biotherapeutics stock opened at $17.29 on Tuesday. The stock has a market cap of $2.05 billion, a P/E ratio of -9.66 and a beta of 1.48. The company has a quick ratio of 2.38, a current ratio of 2.46 and a debt-to-equity ratio of 0.67. Arcutis Biotherapeutics, Inc. has a 12-month low of $6.99 and a 12-month high of $17.70. The business’s 50 day moving average is $13.75 and its 200-day moving average is $12.10.

Arcutis Biotherapeutics (NASDAQ:ARQT) last announced its quarterly earnings results on Tuesday, February 25th. The company reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.19. The firm had revenue of $71.36 million during the quarter, compared to analysts’ expectations of $60.52 million. Arcutis Biotherapeutics had a negative net margin of 140.97% and a negative return on equity of 119.11%. Equities research analysts predict that Arcutis Biotherapeutics, Inc. will post -1.33 earnings per share for the current fiscal year.

Arcutis Biotherapeutics 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.