Arcutis Biotherapeutics (NASDAQ:ARQT) Shares Up 6.5%

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) traded up 6.5% during mid-day trading on Wednesday . The company traded as high as $10.17 and last traded at $10.17. 753,799 shares were traded during mid-day trading, a decline of 78% from the average session volume of 3,440,123 shares. The stock had previously closed at $9.55.

Analyst Upgrades and Downgrades

Several research firms recently commented on ARQT. Needham & Company LLC reiterated a “buy” rating and set a $18.00 target price on shares of Arcutis Biotherapeutics in a research report on Thursday, August 15th. Jefferies Financial Group assumed coverage on shares of Arcutis Biotherapeutics in a research note on Wednesday, August 28th. They set a “buy” rating and a $15.00 price target for the company. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $13.33.

Arcutis Biotherapeutics Stock Up 7.3 %

The firm has a market cap of $1.19 billion, a price-to-earnings ratio of -3.47 and a beta of 1.18. The firm has a 50 day moving average of $9.80 and a 200 day moving average of $9.49. The company has a quick ratio of 8.19, a current ratio of 8.46 and a debt-to-equity ratio of 1.09.

Arcutis Biotherapeutics (NASDAQ:ARQT) last released its quarterly earnings data on Wednesday, August 14th. The company reported ($0.42) earnings per share for the quarter, beating the consensus estimate of ($0.48) by $0.06. Arcutis Biotherapeutics had a negative net margin of 150.51% and a negative return on equity of 145.41%. The company had revenue of $30.86 million during the quarter, compared to analyst estimates of $31.00 million. During the same quarter in the previous year, the business posted ($1.16) EPS. As a group, sell-side analysts predict that Arcutis Biotherapeutics, Inc. will post -1.56 earnings per share for the current year.

Insider Buying and Selling at Arcutis Biotherapeutics

In other news, insider Masaru Matsuda sold 5,220 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $9.02, for a total transaction of $47,084.40. Following the transaction, the insider now owns 183,288 shares of the company’s stock, valued at approximately $1,653,257.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Arcutis Biotherapeutics news, CFO David Joseph Topper sold 11,626 shares of the business’s stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $9.48, for a total transaction of $110,214.48. Following the completion of the sale, the chief financial officer now owns 158,374 shares in the company, valued at approximately $1,501,385.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Masaru Matsuda sold 5,220 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $9.02, for a total transaction of $47,084.40. Following the transaction, the insider now owns 183,288 shares in the company, valued at approximately $1,653,257.76. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 38,574 shares of company stock valued at $378,024. Corporate insiders own 9.50% of the company’s stock.

Institutional Investors Weigh In On Arcutis Biotherapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Cantor Fitzgerald L. P. bought a new stake in Arcutis Biotherapeutics during the 4th quarter worth approximately $33,000. CWM LLC lifted its stake in Arcutis Biotherapeutics by 6,740.0% during the 2nd quarter. CWM LLC now owns 4,104 shares of the company’s stock valued at $38,000 after acquiring an additional 4,044 shares in the last quarter. Ameritas Investment Partners Inc. lifted its stake in Arcutis Biotherapeutics by 55.2% during the 1st quarter. Ameritas Investment Partners Inc. now owns 7,871 shares of the company’s stock valued at $78,000 after acquiring an additional 2,800 shares in the last quarter. Algert Global LLC purchased a new position in Arcutis Biotherapeutics during the 2nd quarter worth $97,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Arcutis Biotherapeutics in the 2nd quarter worth $174,000.

Arcutis Biotherapeutics Company Profile

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.