Arcutis Biotherapeutics’ (ARQT) Buy Rating Reiterated at HC Wainwright

HC Wainwright reissued their buy rating on shares of Arcutis Biotherapeutics (NASDAQ:ARQT) in a report issued on Thursday morning,Benzinga reports. They currently have a $19.00 target price on the stock.

A number of other equities analysts have also commented on ARQT. Jefferies Financial Group increased their price target on shares of Arcutis Biotherapeutics from $16.00 to $19.00 and gave the stock a “buy” rating in a report on Tuesday, March 11th. Mizuho raised their price target on Arcutis Biotherapeutics from $20.00 to $21.00 and gave the company an “outperform” rating in a research report on Wednesday, February 26th. Needham & Company LLC reiterated a “buy” rating and issued a $20.00 price objective on shares of Arcutis Biotherapeutics in a report on Wednesday, February 26th. The Goldman Sachs Group boosted their target price on Arcutis Biotherapeutics from $13.00 to $15.00 and gave the stock a “neutral” rating in a research report on Thursday, February 27th. Finally, Guggenheim reiterated a “buy” rating on shares of Arcutis Biotherapeutics in a research report on Monday, February 24th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $18.80.

Arcutis Biotherapeutics Price Performance

NASDAQ:ARQT opened at $14.73 on Thursday. Arcutis Biotherapeutics has a 52-week low of $6.99 and a 52-week high of $17.75. The stock has a fifty day moving average of $14.20 and a 200 day moving average of $12.43. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.38 and a current ratio of 2.46. The firm has a market capitalization of $1.75 billion, a price-to-earnings ratio of -8.23 and a beta of 1.67.

Arcutis Biotherapeutics (NASDAQ:ARQT) last issued its quarterly earnings results on Tuesday, February 25th. The company reported ($0.09) earnings per share (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 the consensus estimate of $60.52 million. Arcutis Biotherapeutics had a negative return on equity of 119.11% and a negative net margin of 140.97%. On average, research analysts expect that Arcutis Biotherapeutics will post -1.33 EPS for the current fiscal year.

Insider Activity at Arcutis Biotherapeutics

In other Arcutis Biotherapeutics news, insider Masaru Matsuda sold 8,338 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $12.70, for a total value of $105,892.60. Following the completion of the sale, the insider now owns 178,692 shares in the company, valued at approximately $2,269,388.40. The trade was a 4.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Howard G. Welgus sold 10,000 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $12.71, for a total value of $127,100.00. Following the sale, the director now directly owns 141,944 shares of the company’s stock, valued at approximately $1,804,108.24. This trade represents a 6.58 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 46,099 shares of company stock worth $631,256 in the last ninety days. 9.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Arcutis Biotherapeutics

Several institutional investors and hedge funds have recently modified their holdings of ARQT. Summit Investment Advisors Inc. raised its stake in Arcutis Biotherapeutics by 8.0% in the fourth quarter. Summit Investment Advisors Inc. now owns 11,245 shares of the company’s stock worth $157,000 after buying an additional 837 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its holdings in shares of Arcutis Biotherapeutics by 10.4% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 24,818 shares of the company’s stock worth $346,000 after acquiring an additional 2,336 shares during the period. GF Fund Management CO. LTD. bought a new position in shares of Arcutis Biotherapeutics in the 4th quarter worth approximately $34,000. Point72 DIFC Ltd purchased a new position in shares of Arcutis Biotherapeutics in the 3rd quarter valued at approximately $25,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Arcutis Biotherapeutics by 1.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 276,691 shares of the company’s stock valued at $2,573,000 after purchasing an additional 2,912 shares in the last quarter.

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.