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

Shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) have been given a consensus rating of “Moderate Buy” by the nine ratings firms that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $29.00.

ARQT has been the subject of a number of recent research reports. The Goldman Sachs Group upped their target price on Arcutis Biotherapeutics from $19.00 to $29.00 and gave the stock a “neutral” rating in a report on Thursday, October 30th. Weiss Ratings reissued a “sell (d-)” rating on shares of Arcutis Biotherapeutics in a research note on Monday, December 29th. Wall Street Zen cut Arcutis Biotherapeutics from a “strong-buy” rating to a “buy” rating in a report on Friday. Zacks Research downgraded Arcutis Biotherapeutics from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 29th. Finally, Mizuho lifted their target price on shares of Arcutis Biotherapeutics from $32.00 to $37.00 and gave the stock an “outperform” rating in a research report on Friday, November 28th.

Insider Buying and Selling

In related news, insider Todd Watanabe sold 48,945 shares of the stock in a transaction on Monday, November 24th. The stock was sold at an average price of $30.36, for a total value of $1,485,970.20. Following the completion of the sale, the insider directly owned 740,537 shares in the company, valued at $22,482,703.32. This represents a 6.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Sue-Jean Lin sold 25,272 shares of the firm’s stock in a transaction on Monday, November 24th. The stock was sold at an average price of $30.78, for a total value of $777,872.16. Following the transaction, the director directly owned 26,735 shares of the company’s stock, valued at approximately $822,903.30. This represents a 48.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 293,912 shares of company stock valued at $7,885,305 over the last quarter. 9.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Arcutis Biotherapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Johnson Investment Counsel Inc. bought a new stake in Arcutis Biotherapeutics in the third quarter valued at approximately $30,000. Jones Financial Companies Lllp raised its holdings in Arcutis Biotherapeutics by 1,291.1% during the 3rd quarter. Jones Financial Companies Lllp now owns 7,067 shares of the company’s stock worth $124,000 after purchasing an additional 6,559 shares during the last quarter. Whalen Wealth Management Inc. acquired a new position in shares of Arcutis Biotherapeutics in the 4th quarter worth approximately $233,000. PNC Financial Services Group Inc. boosted its stake in shares of Arcutis Biotherapeutics by 10.2% in the 2nd quarter. PNC Financial Services Group Inc. now owns 8,828 shares of the company’s stock valued at $124,000 after purchasing an additional 820 shares during the last quarter. Finally, Atlas Wealth LLC bought a new stake in shares of Arcutis Biotherapeutics in the 2nd quarter valued at $138,000.

Arcutis Biotherapeutics Price Performance

Shares of NASDAQ:ARQT opened at $26.20 on Monday. Arcutis Biotherapeutics has a one year low of $11.13 and a one year high of $31.77. The company has a debt-to-equity ratio of 0.68, a current ratio of 3.50 and a quick ratio of 3.28. The company has a market cap of $3.21 billion, a price-to-earnings ratio of -72.78 and a beta of 1.71. The firm has a 50 day simple moving average of $28.70 and a 200 day simple moving average of $21.89.

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

Arcutis Biotherapeutics Company Profile

Arcutis Biotherapeutics is a clinical-stage biopharmaceutical company focused on developing and commercializing innovative therapies for immuno-inflammatory skin diseases. The company’s research and development efforts center on targeted treatments that address the underlying biology of conditions such as plaque psoriasis, atopic dermatitis, seborrheic dermatitis and vitiligo. Arcutis employs a precision-medicine approach to deliver topical therapies designed to improve efficacy and tolerability compared with existing treatment options.

In August 2022, Arcutis received U.S.