Brokerages Set Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Target Price at $18.80

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) has been given an average rating of “Moderate Buy” by the six ratings firms that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $18.80.

Several analysts have recently commented on ARQT shares. Guggenheim reissued a “buy” rating on shares of Arcutis Biotherapeutics in a research note on Thursday, April 3rd. HC Wainwright reissued a “buy” rating and set a $19.00 price target on shares of Arcutis Biotherapeutics in a research note on Thursday, April 3rd. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Arcutis Biotherapeutics in a research note on Friday, May 23rd.

Arcutis Biotherapeutics Stock Performance

NASDAQ ARQT opened at $15.01 on Thursday. Arcutis Biotherapeutics has a 1-year low of $7.86 and a 1-year high of $17.75. The company has a current ratio of 3.55, a quick ratio of 3.37 and a debt-to-equity ratio of 0.75. The company has a 50 day moving average of $13.91 and a 200-day moving average of $14.04. The firm has a market cap of $1.79 billion, a price-to-earnings ratio of -14.43 and a beta of 1.77.

Arcutis Biotherapeutics (NASDAQ:ARQT) last released its quarterly earnings results on Tuesday, May 6th. The company reported ($0.20) EPS for the quarter, beating the consensus estimate of ($0.21) by $0.01. Arcutis Biotherapeutics had a negative net margin of 60.95% and a negative return on equity of 80.66%. The business had revenue of $65.85 million for the quarter, compared to analysts’ expectations of $64.80 million. On average, equities analysts forecast that Arcutis Biotherapeutics will post -1.33 earnings per share for the current fiscal year.

Insider Transactions at Arcutis Biotherapeutics

In other Arcutis Biotherapeutics news, Director Howard G. Welgus sold 10,139 shares of the firm’s stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $13.37, for a total value of $135,558.43. Following the transaction, the director directly owned 109,414 shares of the company’s stock, valued at approximately $1,462,865.18. This trade represents a 8.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Patrick Burnett sold 3,871 shares of the firm’s stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $13.59, for a total transaction of $52,606.89. Following the completion of the transaction, the insider directly owned 115,468 shares in the company, valued at approximately $1,569,210.12. The trade was a 3.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders purchased 7,434 shares of company stock valued at $99,277 and sold 28,291 shares valued at $394,261. Insiders own 9.40% of the company’s stock.

Institutional Trading of Arcutis Biotherapeutics

Several hedge funds have recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC acquired a new stake in Arcutis Biotherapeutics during the 2nd quarter worth $217,000. Triumph Capital Management acquired a new stake in Arcutis Biotherapeutics during the 2nd quarter worth $410,000. GK Wealth Management LLC raised its stake in Arcutis Biotherapeutics by 28.2% during the 2nd quarter. GK Wealth Management LLC now owns 18,801 shares of the company’s stock worth $264,000 after buying an additional 4,134 shares during the period. Invst LLC acquired a new stake in Arcutis Biotherapeutics during the 1st quarter worth $323,000. Finally, Rhumbline Advisers raised its stake in Arcutis Biotherapeutics by 7.7% during the 1st quarter. Rhumbline Advisers now owns 181,074 shares of the company’s stock worth $2,832,000 after buying an additional 13,022 shares during the period.

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.