Intech Investment Management LLC Buys 5,168 Shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT)

Intech Investment Management LLC boosted its stake in shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) by 13.9% during the fourth quarter, Holdings Channel.com reports. The fund owned 42,258 shares of the company’s stock after acquiring an additional 5,168 shares during the period. Intech Investment Management LLC’s holdings in Arcutis Biotherapeutics were worth $589,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ARQT. Cibc World Markets Corp acquired a new stake in shares of Arcutis Biotherapeutics during the 4th quarter worth $140,000. Erste Asset Management GmbH increased its holdings in Arcutis Biotherapeutics by 558.6% in the 4th quarter. Erste Asset Management GmbH now owns 73,100 shares of the company’s stock valued at $1,045,000 after buying an additional 62,000 shares during the period. Swiss National Bank raised its position in shares of Arcutis Biotherapeutics by 1.6% in the 4th quarter. Swiss National Bank now owns 206,900 shares of the company’s stock valued at $2,882,000 after buying an additional 3,300 shares in the last quarter. Jackson Creek Investment Advisors LLC bought a new stake in shares of Arcutis Biotherapeutics during the 4th quarter worth approximately $2,108,000. Finally, Aigen Investment Management LP bought a new position in Arcutis Biotherapeutics in the fourth quarter valued at approximately $191,000.

Analysts Set New Price Targets

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

Arcutis Biotherapeutics Trading Up 1.6 %

ARQT opened at $17.29 on Tuesday. The company’s 50 day moving average price is $13.75 and its two-hundred day moving average price is $12.10. The firm has a market capitalization of $2.05 billion, a price-to-earnings ratio of -9.66 and a beta of 1.48. Arcutis Biotherapeutics, Inc. has a fifty-two week low of $6.99 and a fifty-two week high of $17.70. 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 (NASDAQ:ARQT) last released its quarterly earnings results on Tuesday, February 25th. The company reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.19. Arcutis Biotherapeutics had a negative return on equity of 119.11% and a negative net margin of 140.97%. The firm had revenue of $71.36 million for the quarter, compared to analyst estimates of $60.52 million. As a group, research analysts predict that Arcutis Biotherapeutics, Inc. will post -1.33 earnings per share for the current year.

Insider Buying and Selling at Arcutis Biotherapeutics

In other Arcutis Biotherapeutics news, insider Masaru Matsuda sold 8,338 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were 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 of the company’s stock, valued at approximately $2,269,388.40. This represents a 4.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Patrick Burnett sold 12,242 shares of Arcutis Biotherapeutics stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $15.04, for a total value of $184,119.68. Following the completion of the sale, the insider now owns 121,936 shares of the company’s stock, valued at approximately $1,833,917.44. The trade was a 9.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 56,290 shares of company stock valued at $775,350. 9.50% of the stock is currently owned by company insiders.

Arcutis Biotherapeutics 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.