Arcutis Biotherapeutics (NASDAQ:ARQT) Stock Rating Lowered by Wall Street Zen

Arcutis Biotherapeutics (NASDAQ:ARQT) was downgraded by stock analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a report issued on Saturday.

ARQT has been the subject of a number of other reports. HC Wainwright reaffirmed a “buy” rating and issued a $30.00 target price on shares of Arcutis Biotherapeutics in a research note on Wednesday, October 29th. Needham & Company LLC raised their price target on shares of Arcutis Biotherapeutics from $22.00 to $30.00 and gave the company a “buy” rating in a report on Tuesday, October 28th. Mizuho upped their price objective on Arcutis Biotherapeutics from $32.00 to $37.00 and gave the stock an “outperform” rating in a report on Friday, November 28th. Zacks Research upgraded Arcutis Biotherapeutics from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 29th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Arcutis Biotherapeutics in a research report on Monday. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $29.00.

Arcutis Biotherapeutics Price Performance

Arcutis Biotherapeutics stock opened at $31.20 on Friday. The business’s fifty day moving average is $24.25 and its two-hundred day moving average is $18.25. The company has a debt-to-equity ratio of 0.68, a quick ratio of 3.28 and a current ratio of 3.50. The firm has a market cap of $3.82 billion, a P/E ratio of -86.67 and a beta of 1.69. Arcutis Biotherapeutics has a 52 week low of $11.13 and a 52 week high of $31.45.

Arcutis Biotherapeutics (NASDAQ:ARQT) last released its quarterly earnings results on Tuesday, October 28th. The company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.16. The business had revenue of $99.22 million during the quarter, compared to analysts’ expectations of $86.69 million. Arcutis Biotherapeutics had a negative return on equity of 29.69% and a negative net margin of 13.94%. Equities research analysts forecast that Arcutis Biotherapeutics will post -1.33 earnings per share for the current fiscal year.

Insider Buying and Selling at Arcutis Biotherapeutics

In other news, Director Sue-Jean Lin sold 25,272 shares of Arcutis Biotherapeutics stock in a transaction on Monday, November 24th. The shares were sold at an average price of $30.78, for a total transaction of $777,872.16. Following the transaction, the director directly owned 26,735 shares of the company’s stock, valued at $822,903.30. This trade represents a 48.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Larry Todd Edwards sold 29,131 shares of the firm’s stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $25.16, for a total value of $732,935.96. Following the sale, the insider directly owned 150,193 shares in the company, valued at $3,778,855.88. The trade was a 16.24% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 337,858 shares of company stock worth $8,482,870 over the last ninety days. 9.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Arcutis Biotherapeutics

Institutional investors have recently modified their holdings of the business. Johnson Investment Counsel Inc. acquired a new position in shares of Arcutis Biotherapeutics in the 3rd quarter valued at approximately $30,000. Jones Financial Companies Lllp boosted its holdings in shares of Arcutis Biotherapeutics by 1,291.1% in the third quarter. Jones Financial Companies Lllp now owns 7,067 shares of the company’s stock valued at $124,000 after buying an additional 6,559 shares during the period. Allostery Investments LP bought a new stake in shares of Arcutis Biotherapeutics during the first quarter worth $117,000. PNC Financial Services Group Inc. increased its position in shares of Arcutis Biotherapeutics by 10.2% during the second quarter. PNC Financial Services Group Inc. now owns 8,828 shares of the company’s stock worth $124,000 after acquiring an additional 820 shares in the last quarter. Finally, Atlas Wealth LLC acquired a new stake in shares of Arcutis Biotherapeutics during the second quarter worth $138,000.

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.