Arcutis Biotherapeutics (NASDAQ:ARQT) Given “Buy” Rating at HC Wainwright

Arcutis Biotherapeutics (NASDAQ:ARQT)‘s stock had its “buy” rating restated by analysts at HC Wainwright in a research report issued on Monday,Benzinga reports. They currently have a $19.00 price target on the stock. HC Wainwright’s price objective points to a potential upside of 43.07% from the company’s previous close.

Several other research analysts have also commented on the company. Needham & Company LLC reissued a “buy” rating and issued a $18.00 price objective on shares of Arcutis Biotherapeutics in a research report on Thursday, November 7th. Mizuho raised their target price on Arcutis Biotherapeutics from $19.00 to $20.00 and gave the company an “outperform” rating in a report on Tuesday, January 7th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $16.60.

Arcutis Biotherapeutics Stock Down 2.6 %

Shares of NASDAQ:ARQT opened at $13.28 on Monday. Arcutis Biotherapeutics has a 1 year low of $3.11 and a 1 year high of $16.20. The stock has a 50-day simple moving average of $12.68 and a 200-day simple moving average of $10.74. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.38 and a current ratio of 2.46. The stock has a market capitalization of $1.55 billion, a P/E ratio of -7.42 and a beta of 1.30.

Arcutis Biotherapeutics (NASDAQ:ARQT) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($0.33) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.42) by $0.09. Arcutis Biotherapeutics had a negative net margin of 140.97% and a negative return on equity of 119.11%. The company had revenue of $44.76 million during the quarter, compared to the consensus estimate of $38.05 million. Equities analysts forecast that Arcutis Biotherapeutics will post -1.34 earnings per share for the current year.

Insider Activity

In related news, Director Terrie Curran sold 8,687 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $10.85, for a total value of $94,253.95. Following the sale, the director now directly owns 10,139 shares of the company’s stock, valued at $110,008.15. This represents a 46.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Masaru Matsuda sold 5,015 shares of the firm’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $8.68, for a total transaction of $43,530.20. Following the transaction, the insider now directly owns 178,273 shares of the company’s stock, valued at approximately $1,547,409.64. This represents a 2.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 78,291 shares of company stock worth $927,966 over the last ninety days. Corporate insiders own 9.50% of the company’s stock.

Institutional Investors Weigh In On Arcutis Biotherapeutics

Institutional investors have recently modified their holdings of the stock. Point72 DIFC Ltd bought a new stake in Arcutis Biotherapeutics in the third quarter valued at about $25,000. Algert Global LLC bought a new position in Arcutis Biotherapeutics during the 2nd quarter worth approximately $97,000. Erste Asset Management GmbH acquired a new position in shares of Arcutis Biotherapeutics in the 3rd quarter worth approximately $104,000. Victory Capital Management Inc. increased its holdings in shares of Arcutis Biotherapeutics by 9.9% in the 3rd quarter. Victory Capital Management Inc. now owns 12,843 shares of the company’s stock valued at $119,000 after acquiring an additional 1,155 shares during the last quarter. Finally, Creative Planning acquired a new stake in shares of Arcutis Biotherapeutics during the 3rd quarter valued at approximately $127,000.

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.