Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) have been assigned a consensus recommendation of “Moderate Buy” from the six research firms that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $18.80.

ARQT has been the subject of several recent research reports. Jefferies Financial Group raised their target price 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. Needham & Company LLC restated a “buy” rating and set a $20.00 price target on shares of Arcutis Biotherapeutics in a research report on Wednesday, April 9th. HC Wainwright restated a “buy” rating and set a $19.00 price target on shares of Arcutis Biotherapeutics in a research report on Thursday, April 3rd. The Goldman Sachs Group raised their price target on shares of Arcutis Biotherapeutics from $13.00 to $15.00 and gave the company a “neutral” rating in a research report on Thursday, February 27th. Finally, Mizuho raised their price target on shares of Arcutis Biotherapeutics from $20.00 to $21.00 and gave the company an “outperform” rating in a research report on Wednesday, February 26th.

Arcutis Biotherapeutics Trading Down 0.9%

NASDAQ ARQT opened at $14.51 on Wednesday. The company has a current ratio of 2.46, a quick ratio of 2.38 and a debt-to-equity ratio of 0.67. The company has a fifty day simple moving average of $14.67 and a two-hundred day simple moving average of $13.51. Arcutis Biotherapeutics has a 12-month low of $6.99 and a 12-month high of $17.75. The stock has a market cap of $1.73 billion, a P/E ratio of -8.11 and a beta of 1.87.

Arcutis Biotherapeutics (NASDAQ:ARQT) last issued its earnings results on Tuesday, May 6th. The company reported ($0.20) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.01. Arcutis Biotherapeutics had a negative net margin of 140.97% and a negative return on equity of 119.11%. The firm had revenue of $65.85 million during the quarter, compared to analysts’ expectations of $64.80 million. On average, analysts forecast that Arcutis Biotherapeutics will post -1.33 earnings per share for the current year.

Insider Activity

In other news, Director Howard G. Welgus sold 10,000 shares of Arcutis Biotherapeutics stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $13.00, for a total value of $130,000.00. Following the sale, the director now owns 131,944 shares in the company, valued at $1,715,272. This trade represents a 7.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Patrick Burnett sold 2,819 shares of Arcutis Biotherapeutics stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $13.03, for a total transaction of $36,731.57. Following the completion of the sale, the insider now owns 167,043 shares in the company, valued at approximately $2,176,570.29. This trade represents a 1.66% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 44,113 shares of company stock worth $632,162 over the last 90 days. 9.40% of the stock is currently owned by company insiders.

Institutional Trading of Arcutis Biotherapeutics

Institutional investors have recently modified their holdings of the stock. GF Fund Management CO. LTD. purchased a new position in shares of Arcutis Biotherapeutics in the fourth quarter worth about $34,000. Venturi Wealth Management LLC purchased a new position in shares of Arcutis Biotherapeutics in the fourth quarter worth about $46,000. Amalgamated Bank lifted its stake in shares of Arcutis Biotherapeutics by 39.4% in the first quarter. Amalgamated Bank now owns 3,723 shares of the company’s stock worth $58,000 after buying an additional 1,053 shares in the last quarter. KBC Group NV purchased a new position in shares of Arcutis Biotherapeutics in the first quarter worth about $84,000. Finally, Nkcfo LLC purchased a new position in shares of Arcutis Biotherapeutics in the first quarter worth about $109,000.

About Arcutis Biotherapeutics

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.