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

Shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) have received an average recommendation of “Moderate Buy” from the eight research firms that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $34.00.

ARQT has been the topic of a number of analyst reports. TD Cowen lifted their target price on shares of Arcutis Biotherapeutics from $30.00 to $35.00 and gave the company a “buy” rating in a research note on Thursday, February 26th. Guggenheim lifted their target price on shares of Arcutis Biotherapeutics from $34.00 to $35.00 and gave the company a “buy” rating in a research note on Friday, February 27th. Wall Street Zen cut shares of Arcutis Biotherapeutics from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Needham & Company LLC restated a “buy” rating and set a $36.00 target price on shares of Arcutis Biotherapeutics in a research note on Thursday, May 7th. Finally, HC Wainwright lifted their target price on shares of Arcutis Biotherapeutics from $30.00 to $34.00 and gave the company a “buy” rating in a research note on Thursday, February 26th.

Arcutis Biotherapeutics Price Performance

Shares of NASDAQ ARQT opened at $27.33 on Thursday. Arcutis Biotherapeutics has a twelve month low of $13.06 and a twelve month high of $31.77. The firm has a market cap of $3.42 billion, a P/E ratio of -910.70 and a beta of 1.51. The company has a 50 day moving average of $22.91 and a 200 day moving average of $25.02. The company has a quick ratio of 2.46, a current ratio of 2.68 and a debt-to-equity ratio of 0.54.

Arcutis Biotherapeutics (NASDAQ:ARQT) last posted its earnings results on Wednesday, May 6th. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.07). Arcutis Biotherapeutics had a negative return on equity of 1.41% and a negative net margin of 0.57%.The company had revenue of $105.40 million during the quarter, compared to the consensus estimate of $103.68 million. As a group, research analysts expect that Arcutis Biotherapeutics will post 0.15 EPS for the current fiscal year.

Insiders Place Their Bets

In other Arcutis Biotherapeutics news, Director Howard G. Welgus sold 4,096 shares of the business’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $24.41, for a total value of $99,983.36. Following the sale, the director owned 38,378 shares in the company, valued at $936,806.98. The trade was a 9.64% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Latha Vairavan sold 1,341 shares of the business’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $23.61, for a total transaction of $31,661.01. Following the completion of the sale, the chief financial officer owned 86,413 shares in the company, valued at approximately $2,040,210.93. The trade was a 1.53% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have sold 40,931 shares of company stock worth $968,886. 9.40% of the stock is owned by corporate insiders.

Institutional Trading of Arcutis Biotherapeutics

Several hedge funds have recently bought and sold shares of the stock. Zevenbergen Capital Investments LLC purchased a new stake in shares of Arcutis Biotherapeutics during the 4th quarter valued at about $12,140,000. UBS Group AG raised its position in shares of Arcutis Biotherapeutics by 10.0% during the 4th quarter. UBS Group AG now owns 3,243,432 shares of the company’s stock valued at $94,189,000 after buying an additional 294,994 shares in the last quarter. Nordea Investment Management AB purchased a new stake in shares of Arcutis Biotherapeutics during the 4th quarter valued at about $5,850,000. Ally Bridge Group NY LLC purchased a new stake in shares of Arcutis Biotherapeutics during the 3rd quarter valued at about $4,396,000. Finally, Tudor Investment Corp ET AL purchased a new stake in shares of Arcutis Biotherapeutics during the 3rd quarter valued at about $1,319,000.

About Arcutis Biotherapeutics

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.