Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Receives $29.20 Average Price Target from Brokerages

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) has been assigned a consensus rating of “Moderate Buy” from the nine analysts that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and six have given a buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $29.20.

A number of analysts have commented on ARQT shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arcutis Biotherapeutics in a research note on Monday, December 29th. Wall Street Zen lowered shares of Arcutis Biotherapeutics from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 14th. The Goldman Sachs Group upped their price target on shares of Arcutis Biotherapeutics from $19.00 to $29.00 and gave the company a “neutral” rating in a research report on Thursday, October 30th. Mizuho raised their price objective on shares of Arcutis Biotherapeutics from $32.00 to $37.00 and gave the stock an “outperform” rating in a research note on Friday, November 28th. Finally, Zacks Research downgraded shares of Arcutis Biotherapeutics from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 29th.

Insider Activity at Arcutis Biotherapeutics

In other news, CFO Latha Vairavan sold 1,320 shares of the business’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $25.50, for a total transaction of $33,660.00. Following the transaction, the chief financial officer directly owned 63,607 shares in the company, valued at $1,621,978.50. The trade was a 2.03% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Larry Todd Edwards sold 2,052 shares of the stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $25.50, for a total value of $52,326.00. Following the sale, the insider owned 148,865 shares of the company’s stock, valued at approximately $3,796,057.50. This represents a 1.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 124,656 shares of company stock worth $3,312,365. 9.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Invesco Ltd. grew its position in shares of Arcutis Biotherapeutics by 59.3% in the fourth quarter. Invesco Ltd. now owns 307,382 shares of the company’s stock valued at $8,926,000 after purchasing an additional 114,430 shares during the last quarter. Mercer Global Advisors Inc. ADV bought a new stake in Arcutis Biotherapeutics during the 4th quarter valued at approximately $255,000. Mackenzie Financial Corp bought a new stake in Arcutis Biotherapeutics during the 4th quarter valued at approximately $1,374,000. NewEdge Advisors LLC grew its holdings in Arcutis Biotherapeutics by 209.0% in the 4th quarter. NewEdge Advisors LLC now owns 1,545 shares of the company’s stock valued at $45,000 after buying an additional 1,045 shares during the last quarter. Finally, XTX Topco Ltd increased its position in Arcutis Biotherapeutics by 557.9% in the 4th quarter. XTX Topco Ltd now owns 74,358 shares of the company’s stock worth $2,159,000 after buying an additional 63,055 shares during the period.

Arcutis Biotherapeutics Stock Down 9.1%

Shares of Arcutis Biotherapeutics stock opened at $25.42 on Friday. Arcutis Biotherapeutics has a 12-month low of $11.75 and a 12-month high of $31.77. The firm has a market capitalization of $3.11 billion, a PE ratio of -70.61 and a beta of 1.70. The company has a quick ratio of 3.28, a current ratio of 3.50 and a debt-to-equity ratio of 0.68. The stock’s fifty day moving average is $27.35 and its 200-day moving average is $23.48.

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.