Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Given Consensus Rating of “Moderate Buy” by Brokerages

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) has received an average rating of “Moderate Buy” from the seven brokerages that are currently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $13.33.

Several analysts have weighed in on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $18.00 price objective on shares of Arcutis Biotherapeutics in a research note on Thursday, August 15th. Jefferies Financial Group started coverage on shares of Arcutis Biotherapeutics in a research report on Wednesday, August 28th. They issued a “buy” rating and a $15.00 target price for the company.

Arcutis Biotherapeutics Price Performance

Shares of Arcutis Biotherapeutics stock opened at $8.75 on Tuesday. Arcutis Biotherapeutics has a twelve month low of $1.76 and a twelve month high of $13.17. The company has a quick ratio of 8.19, a current ratio of 8.46 and a debt-to-equity ratio of 1.09. The company has a 50-day simple moving average of $9.78 and a two-hundred day simple moving average of $9.38. The stock has a market capitalization of $1.01 billion, a price-to-earnings ratio of -2.99 and a beta of 1.17.

Arcutis Biotherapeutics (NASDAQ:ARQT) last issued its quarterly earnings data on Wednesday, August 14th. The company reported ($0.42) earnings per share for the quarter, topping 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 business had revenue of $30.86 million during the quarter, compared to analysts’ expectations of $31.00 million. During the same quarter in the previous year, the company earned ($1.16) EPS. Analysts forecast that Arcutis Biotherapeutics will post -1.56 EPS for the current year.

Insider Buying and Selling

In other Arcutis Biotherapeutics news, SVP Larry Todd Edwards sold 3,725 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $10.01, for a total transaction of $37,287.25. Following the sale, the senior vice president now directly owns 136,635 shares of the company’s stock, valued at $1,367,716.35. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, SVP Larry Todd Edwards sold 3,725 shares of the company’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $10.01, for a total value of $37,287.25. Following the sale, the senior vice president now directly owns 136,635 shares of the company’s stock, valued at approximately $1,367,716.35. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Howard G. Welgus sold 10,000 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $9.26, for a total transaction of $92,600.00. Following the completion of the sale, the director now directly owns 181,944 shares in the company, valued at approximately $1,684,801.44. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 52,299 shares of company stock worth $507,911 in the last three months. 9.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. AMI Asset Management Corp boosted its stake in Arcutis Biotherapeutics by 36.2% during the third quarter. AMI Asset Management Corp now owns 223,681 shares of the company’s stock worth $2,080,000 after acquiring an additional 59,487 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its holdings in shares of Arcutis Biotherapeutics by 65.3% in the third quarter. China Universal Asset Management Co. Ltd. now owns 22,482 shares of the company’s stock valued at $209,000 after purchasing an additional 8,881 shares during the last quarter. abrdn plc raised its holdings in shares of Arcutis Biotherapeutics by 223.8% in the third quarter. abrdn plc now owns 482,074 shares of the company’s stock valued at $4,483,000 after purchasing an additional 333,200 shares during the last quarter. Creative Planning bought a new position in Arcutis Biotherapeutics during the third quarter valued at about $127,000. Finally, Wesbanco Bank Inc. bought a new position in Arcutis Biotherapeutics during the third quarter valued at about $955,000.

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.