Arcutis Biotherapeutics (NASDAQ:ARQT) Rating Lowered to “Buy” at Wall Street Zen

Arcutis Biotherapeutics (NASDAQ:ARQT) was downgraded by investment analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research report issued on Friday.

Other research analysts have also recently issued reports about the stock. Needham & Company LLC increased their price objective on shares of Arcutis Biotherapeutics from $22.00 to $30.00 and gave the company a “buy” rating in a report on Tuesday, October 28th. Weiss Ratings restated a “sell (d-)” rating on shares of Arcutis Biotherapeutics in a research report on Monday, December 29th. Zacks Research downgraded Arcutis Biotherapeutics from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 29th. The Goldman Sachs Group raised their price objective on Arcutis Biotherapeutics from $19.00 to $29.00 and gave the stock a “neutral” rating in a research note on Thursday, October 30th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $30.00 target price on shares of Arcutis Biotherapeutics in a research report on Wednesday, October 29th. Six investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Arcutis Biotherapeutics presently has an average rating of “Moderate Buy” and an average target price of $29.00.

Arcutis Biotherapeutics Trading Down 1.7%

Shares of ARQT stock opened at $26.20 on Friday. Arcutis Biotherapeutics has a 1 year low of $11.13 and a 1 year high of $31.77. The firm has a market capitalization of $3.21 billion, a PE ratio of -72.78 and a beta of 1.71. The stock has a fifty day moving average of $28.70 and a two-hundred day moving average of $21.83. The company has a debt-to-equity ratio of 0.68, a quick ratio of 3.28 and a current ratio of 3.50.

Arcutis Biotherapeutics (NASDAQ:ARQT) last posted its quarterly earnings data on Tuesday, October 28th. The company reported $0.06 earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.16. The business had revenue of $99.22 million during the quarter, compared to the consensus estimate of $86.69 million. Arcutis Biotherapeutics had a negative net margin of 13.94% and a negative return on equity of 29.69%. As a group, research analysts expect that Arcutis Biotherapeutics will post -1.33 EPS for the current year.

Insiders Place Their Bets

In related news, insider Masaru Matsuda sold 1,657 shares of Arcutis Biotherapeutics stock in a transaction on Monday, December 1st. The stock was sold at an average price of $30.23, for a total transaction of $50,091.11. Following the completion of the sale, the insider owned 150,641 shares of the company’s stock, valued at approximately $4,553,877.43. This trade represents a 1.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Todd Watanabe sold 48,945 shares of the company’s stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $30.36, for a total value of $1,485,970.20. Following the completion of the transaction, the insider directly owned 740,537 shares in the company, valued at approximately $22,482,703.32. The trade was a 6.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 293,912 shares of company stock valued at $7,885,305 over the last quarter. 9.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Arcutis Biotherapeutics

Several institutional investors have recently made changes to their positions in ARQT. Johnson Investment Counsel Inc. acquired a new position in Arcutis Biotherapeutics in the third quarter worth approximately $30,000. Jones Financial Companies Lllp boosted its position in Arcutis Biotherapeutics by 1,291.1% during the third quarter. Jones Financial Companies Lllp now owns 7,067 shares of the company’s stock worth $124,000 after purchasing an additional 6,559 shares during the period. Whalen Wealth Management Inc. acquired a new position in Arcutis Biotherapeutics during the fourth quarter valued at approximately $233,000. PNC Financial Services Group Inc. raised its position in shares of Arcutis Biotherapeutics by 10.2% in the second quarter. PNC Financial Services Group Inc. now owns 8,828 shares of the company’s stock valued at $124,000 after purchasing an additional 820 shares during the period. Finally, Atlas Wealth LLC bought a new position in shares of Arcutis Biotherapeutics in the second quarter valued at approximately $138,000.

About Arcutis Biotherapeutics

Arcutis Biotherapeutics is a clinical-stage biopharmaceutical company focused on developing and commercializing innovative therapies for immuno-inflammatory skin diseases. The company’s research and development efforts center on targeted treatments that address the underlying biology of conditions such as plaque psoriasis, atopic dermatitis, seborrheic dermatitis and vitiligo. Arcutis employs a precision-medicine approach to deliver topical therapies designed to improve efficacy and tolerability compared with existing treatment options.

In August 2022, Arcutis received U.S.