Charles Schwab Investment Management Inc. Increases Holdings in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT)

Charles Schwab Investment Management Inc. lifted its position in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) by 2.2% in the fourth quarter, Holdings Channel reports. The firm owned 878,804 shares of the company’s stock after buying an additional 18,958 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Arcutis Biotherapeutics were worth $12,242,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Point72 DIFC Ltd purchased a new stake in shares of Arcutis Biotherapeutics in the third quarter valued at approximately $25,000. Venturi Wealth Management LLC purchased a new stake in Arcutis Biotherapeutics during the fourth quarter worth $46,000. Erste Asset Management GmbH purchased a new stake in Arcutis Biotherapeutics during the third quarter worth $104,000. LVW Advisors LLC purchased a new stake in Arcutis Biotherapeutics during the fourth quarter worth $166,000. Finally, Victory Capital Management Inc. lifted its holdings in Arcutis Biotherapeutics by 9.9% during the third quarter. Victory Capital Management Inc. now owns 12,843 shares of the company’s stock worth $119,000 after buying an additional 1,155 shares during the period.

Analysts Set New Price Targets

ARQT has been the subject of a number of analyst reports. Guggenheim restated a “buy” rating on shares of Arcutis Biotherapeutics in a report on Monday, February 24th. Needham & Company LLC reaffirmed a “buy” rating and set a $20.00 price target on shares of Arcutis Biotherapeutics in a research report on Wednesday, February 26th. The Goldman Sachs Group upped their price target on Arcutis Biotherapeutics from $13.00 to $15.00 and gave the stock a “neutral” rating in a research report on Thursday, February 27th. Mizuho upped their price target on Arcutis Biotherapeutics from $20.00 to $21.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 26th. Finally, Jefferies Financial Group upped their price target on Arcutis Biotherapeutics from $16.00 to $19.00 and gave the stock a “buy” rating in a research report on Tuesday, March 11th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $18.80.

Insider Buying and Selling at Arcutis Biotherapeutics

In related news, Director Howard G. Welgus sold 10,000 shares of Arcutis Biotherapeutics stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $14.67, for a total transaction of $146,700.00. Following the sale, the director now directly owns 151,944 shares in the company, valued at $2,229,018.48. This trade represents a 6.17 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Masaru Matsuda sold 8,338 shares of Arcutis Biotherapeutics stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $12.70, for a total transaction of $105,892.60. Following the sale, the insider now owns 178,692 shares in the company, valued at $2,269,388.40. This represents a 4.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 56,290 shares of company stock valued at $775,350 in the last 90 days. Company insiders own 9.50% of the company’s stock.

Arcutis Biotherapeutics Stock Up 1.4 %

Shares of NASDAQ ARQT opened at $17.01 on Friday. The company has a 50 day simple moving average of $13.67 and a 200-day simple moving average of $12.03. The company has a market capitalization of $2.02 billion, a P/E ratio of -9.50 and a beta of 1.48. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.46 and a quick ratio of 2.38. Arcutis Biotherapeutics, Inc. has a 1 year low of $6.99 and a 1 year high of $17.70.

Arcutis Biotherapeutics (NASDAQ:ARQT) last posted its earnings results on Tuesday, February 25th. The company reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.28) by $0.19. Arcutis Biotherapeutics had a negative net margin of 140.97% and a negative return on equity of 119.11%. The firm had revenue of $71.36 million during the quarter, compared to the consensus estimate of $60.52 million. On average, equities research analysts predict that Arcutis Biotherapeutics, Inc. will post -1.33 earnings per share for the current year.

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.