Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Given Average Rating of “Moderate Buy” by Analysts

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) has received a consensus recommendation of “Moderate Buy” from the nine brokerages that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and six have issued a buy recommendation on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $29.00.

ARQT has been the topic of a number of analyst reports. The Goldman Sachs Group increased their target price on shares of Arcutis Biotherapeutics from $19.00 to $29.00 and gave the stock a “neutral” rating in a research report on Thursday, October 30th. Mizuho increased their price target on Arcutis Biotherapeutics from $32.00 to $37.00 and gave the stock an “outperform” rating in a research report on Friday, November 28th. Needham & Company LLC raised their price objective on Arcutis Biotherapeutics from $22.00 to $30.00 and gave the stock a “buy” rating in a research note on Tuesday, October 28th. HC Wainwright reaffirmed a “buy” rating and issued a $30.00 price objective on shares of Arcutis Biotherapeutics in a report on Wednesday, October 29th. Finally, Wall Street Zen downgraded Arcutis Biotherapeutics from a “strong-buy” rating to a “buy” rating in a research report on Friday.

Insider Buying and Selling at Arcutis Biotherapeutics

In other news, insider Masaru Matsuda sold 1,657 shares of the company’s stock in a transaction that occurred on Monday, December 1st. The shares were 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 represents a 1.09% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Patrick Burnett sold 2,490 shares of Arcutis Biotherapeutics stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $28.98, for a total transaction of $72,160.20. Following the completion of the transaction, the insider directly owned 94,120 shares in the company, valued at $2,727,597.60. This trade represents a 2.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 293,912 shares of company stock valued at $7,885,305 over the last three months. 9.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Arcutis Biotherapeutics

A number of large investors have recently modified their holdings of the business. Johnson Investment Counsel Inc. acquired a new position in shares of Arcutis Biotherapeutics during the 3rd quarter worth $30,000. Jones Financial Companies Lllp boosted its stake in Arcutis Biotherapeutics by 1,291.1% in the third quarter. Jones Financial Companies Lllp now owns 7,067 shares of the company’s stock valued at $124,000 after buying an additional 6,559 shares in the last quarter. Whalen Wealth Management Inc. bought a new position in Arcutis Biotherapeutics in the fourth quarter valued at about $233,000. PNC Financial Services Group Inc. raised its stake in Arcutis Biotherapeutics by 10.2% during the second quarter. PNC Financial Services Group Inc. now owns 8,828 shares of the company’s stock worth $124,000 after acquiring an additional 820 shares in the last quarter. Finally, Atlas Wealth LLC bought a new position in shares of Arcutis Biotherapeutics in the second quarter worth about $138,000.

Arcutis Biotherapeutics Stock Down 1.7%

ARQT stock opened at $26.20 on Monday. Arcutis Biotherapeutics has a fifty-two week low of $11.13 and a fifty-two week high of $31.77. The company has a debt-to-equity ratio of 0.68, a current ratio of 3.50 and a quick ratio of 3.28. The stock has a market capitalization of $3.21 billion, a price-to-earnings ratio of -72.78 and a beta of 1.71. The business’s fifty day moving average price is $28.70 and its two-hundred day moving average price is $21.89.

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

Arcutis Biotherapeutics Company Profile

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.