Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Receives $18.80 Average Price Target from Analysts

Shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) have received a consensus recommendation of “Moderate Buy” from the six brokerages that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $18.80.

A number of research analysts have issued reports on ARQT shares. Mizuho raised their price target on shares of Arcutis Biotherapeutics from $20.00 to $21.00 and gave the stock an “outperform” rating in a report on Wednesday, February 26th. Guggenheim restated a “buy” rating on shares of Arcutis Biotherapeutics in a research note on Thursday. Jefferies Financial Group lifted their price target on Arcutis Biotherapeutics from $16.00 to $19.00 and gave the stock a “buy” rating in a research report on Tuesday, March 11th. The Goldman Sachs Group increased their price objective on Arcutis Biotherapeutics from $13.00 to $15.00 and gave the company a “neutral” rating in a report on Thursday, February 27th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $20.00 target price on shares of Arcutis Biotherapeutics in a report on Thursday.

Insider Buying and Selling at Arcutis Biotherapeutics

In other news, insider Masaru Matsuda sold 8,338 shares of Arcutis Biotherapeutics stock in a transaction that occurred 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 directly owns 178,692 shares of the company’s stock, valued at $2,269,388.40. The trade was a 4.46 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Todd Franklin Watanabe sold 1,500 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of $17.52, for a total transaction of $26,280.00. Following the sale, the insider now directly owns 927,414 shares in the company, valued at $16,248,293.28. This trade represents a 0.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 46,099 shares of company stock valued at $631,256. 9.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ARQT. Jennison Associates LLC grew its position in shares of Arcutis Biotherapeutics by 5.8% during the 4th quarter. Jennison Associates LLC now owns 12,339,792 shares of the company’s stock valued at $171,893,000 after acquiring an additional 676,295 shares during the period. Suvretta Capital Management LLC grew its holdings in Arcutis Biotherapeutics by 6.3% in the fourth quarter. Suvretta Capital Management LLC now owns 11,399,138 shares of the company’s stock valued at $158,790,000 after purchasing an additional 677,627 shares during the period. Polar Capital Holdings Plc grew its holdings in Arcutis Biotherapeutics by 7.2% in the fourth quarter. Polar Capital Holdings Plc now owns 7,377,381 shares of the company’s stock valued at $102,767,000 after purchasing an additional 493,009 shares during the period. State Street Corp increased its position in shares of Arcutis Biotherapeutics by 9.9% in the third quarter. State Street Corp now owns 5,641,631 shares of the company’s stock valued at $52,467,000 after buying an additional 506,788 shares in the last quarter. Finally, Gilder Gagnon Howe & Co. LLC raised its stake in shares of Arcutis Biotherapeutics by 9.8% during the 4th quarter. Gilder Gagnon Howe & Co. LLC now owns 3,902,991 shares of the company’s stock worth $54,369,000 after buying an additional 349,153 shares during the period.

Arcutis Biotherapeutics Trading Down 8.8 %

Arcutis Biotherapeutics stock opened at $14.73 on Tuesday. 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 stock has a market cap of $1.75 billion, a PE ratio of -8.23 and a beta of 1.67. The stock has a 50-day moving average of $14.20 and a two-hundred day moving average of $12.43. Arcutis Biotherapeutics has a one year low of $6.99 and a one year high of $17.75.

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

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.