According to Zacks, “Arcutis Biotherapeutics Inc. is late-stage biopharmaceutical company. It is focused on developing and commercializing treatments for unmet needs in immune-mediated dermatological diseases. The company’s product pipeline consists of ARQ-151, ARQ-154 and ARQ-252 for multiple indications, including psoriasis, atopic dermatitis, seborrheic dermatitis and eczema, which are in clinical stage. Arcutis Biotherapeutics Inc. is based in Westlake Village, California. “
A number of other equities research analysts also recently weighed in on the stock. Mizuho lowered their target price on shares of Arcutis Biotherapeutics from $58.00 to $57.00 and set a “buy” rating on the stock in a research note on Thursday, April 7th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Arcutis Biotherapeutics in a research report on Wednesday, February 23rd. The Goldman Sachs Group began coverage on shares of Arcutis Biotherapeutics in a research report on Thursday, March 17th. They set a “buy” rating and a $45.00 price target on the stock. Finally, Morgan Stanley increased their price target on shares of Arcutis Biotherapeutics from $35.00 to $37.00 and gave the company an “overweight” rating in a research report on Wednesday, March 2nd. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $41.50.
Arcutis Biotherapeutics (NASDAQ:ARQT – Get Rating) last announced its earnings results on Thursday, May 5th. The company reported ($1.27) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.50) by $0.23. As a group, equities research analysts predict that Arcutis Biotherapeutics will post -5.74 EPS for the current fiscal year.
In related news, insider David W. Osborne sold 2,197 shares of the firm’s stock in a transaction on Thursday, April 21st. The stock was sold at an average price of $20.42, for a total value of $44,862.74. Following the completion of the sale, the insider now owns 257,229 shares of the company’s stock, valued at $5,252,616.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Todd Franklin Watanabe sold 2,489 shares of the firm’s stock in a transaction on Friday, March 4th. The stock was sold at an average price of $16.86, for a total value of $41,964.54. The disclosure for this sale can be found here. Insiders sold 553,267 shares of company stock worth $11,424,366 in the last 90 days. Company insiders own 39.00% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. Neuberger Berman Group LLC lifted its stake in Arcutis Biotherapeutics by 5.9% in the first quarter. Neuberger Berman Group LLC now owns 129,276 shares of the company’s stock worth $2,490,000 after acquiring an additional 7,179 shares during the period. Jane Street Group LLC purchased a new stake in Arcutis Biotherapeutics in the first quarter worth $277,000. Quantbot Technologies LP purchased a new stake in Arcutis Biotherapeutics in the first quarter worth $44,000. Ensign Peak Advisors Inc lifted its stake in Arcutis Biotherapeutics by 18.1% in the first quarter. Ensign Peak Advisors Inc now owns 495,450 shares of the company’s stock worth $9,544,000 after acquiring an additional 75,776 shares during the period. Finally, Guggenheim Capital LLC lifted its stake in Arcutis Biotherapeutics by 14.4% in the first quarter. Guggenheim Capital LLC now owns 12,266 shares of the company’s stock worth $236,000 after acquiring an additional 1,544 shares during the period. 87.59% of the stock is owned by institutional investors.
Arcutis Biotherapeutics Company Profile (Get Rating)
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.
- Get a free copy of the StockNews.com research report on Arcutis Biotherapeutics (ARQT)
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