Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) has earned a consensus rating of “Moderate Buy” from the seven ratings firms that are presently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $13.33.

A number of research analysts have recently commented on ARQT shares. Jefferies Financial Group started coverage on shares of Arcutis Biotherapeutics in a research report on Wednesday, August 28th. They set a “buy” rating and a $15.00 price target for the company. Needham & Company LLC restated a “buy” rating and set a $18.00 target price on shares of Arcutis Biotherapeutics in a research report on Thursday, August 15th. Finally, Mizuho raised their price target on Arcutis Biotherapeutics from $17.00 to $18.00 and gave the company a “buy” rating in a report on Wednesday, May 15th.

Arcutis Biotherapeutics Trading Down 1.1 %

Shares of ARQT stock opened at $10.88 on Monday. The stock has a market capitalization of $1.27 billion, a price-to-earnings ratio of -3.71 and a beta of 1.18. The company’s fifty day simple moving average is $9.69 and its two-hundred day simple moving average is $9.49. Arcutis Biotherapeutics has a 1 year low of $1.76 and a 1 year high of $13.17. The company has a debt-to-equity ratio of 1.09, a current ratio of 8.46 and a quick ratio of 8.19.

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

Insider Buying and Selling

In other Arcutis Biotherapeutics news, insider Masaru Matsuda sold 5,220 shares of Arcutis Biotherapeutics stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $9.02, for a total value of $47,084.40. Following the transaction, the insider now directly owns 183,288 shares of the company’s stock, valued at approximately $1,653,257.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Howard G. Welgus sold 10,000 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $9.87, for a total value of $98,700.00. Following the sale, the director now directly owns 176,953 shares of the company’s stock, valued at $1,746,526.11. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Masaru Matsuda sold 5,220 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $9.02, for a total value of $47,084.40. Following the transaction, the insider now directly owns 183,288 shares of the company’s stock, valued at approximately $1,653,257.76. The disclosure for this sale can be found here. Insiders have sold a total of 26,948 shares of company stock worth $253,210 in the last 90 days. 9.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Arcutis Biotherapeutics

Several hedge funds have recently made changes to their positions in ARQT. Perceptive Advisors LLC boosted its stake in shares of Arcutis Biotherapeutics by 107.8% during the 2nd quarter. Perceptive Advisors LLC now owns 1,558,500 shares of the company’s stock valued at $14,494,000 after purchasing an additional 808,500 shares in the last quarter. Capital Impact Advisors LLC purchased a new position in shares of Arcutis Biotherapeutics during the 2nd quarter worth approximately $606,000. Algert Global LLC bought a new position in shares of Arcutis Biotherapeutics in the 2nd quarter worth approximately $97,000. The Manufacturers Life Insurance Company lifted its stake in shares of Arcutis Biotherapeutics by 31.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 40,323 shares of the company’s stock valued at $375,000 after purchasing an additional 9,537 shares during the period. Finally, Millennium Management LLC boosted its position in shares of Arcutis Biotherapeutics by 35.3% during the second quarter. Millennium Management LLC now owns 512,696 shares of the company’s stock valued at $4,768,000 after purchasing an additional 133,645 shares in the last quarter.

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.