Brokerages Set Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Target Price at $18.80

Shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) have earned a consensus rating of “Moderate Buy” from the six research firms that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $18.80.

ARQT has been the subject of several analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Arcutis Biotherapeutics in a report on Wednesday, April 9th. Jefferies Financial Group upped their price objective on shares of Arcutis Biotherapeutics from $16.00 to $19.00 and gave the stock a “buy” rating in a research report on Tuesday, March 11th. The Goldman Sachs Group increased their price objective on shares of Arcutis Biotherapeutics from $13.00 to $15.00 and gave the stock a “neutral” rating in a research note on Thursday, February 27th. Guggenheim restated a “buy” rating on shares of Arcutis Biotherapeutics in a research report on Thursday, April 3rd. Finally, HC Wainwright reaffirmed a “buy” rating and set a $19.00 price target on shares of Arcutis Biotherapeutics in a report on Thursday, April 3rd.

Arcutis Biotherapeutics Price Performance

Shares of NASDAQ ARQT opened at $14.91 on Friday. The firm has a market cap of $1.77 billion, a P/E ratio of -8.33 and a beta of 1.67. The business’s 50 day moving average is $14.58 and its 200-day moving average is $12.95. The company has a current ratio of 2.46, a quick ratio of 2.38 and a debt-to-equity ratio of 0.67. Arcutis Biotherapeutics has a 1-year low of $6.99 and a 1-year high of $17.75.

Arcutis Biotherapeutics (NASDAQ:ARQT) last posted its quarterly earnings data on Tuesday, February 25th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.19. Arcutis Biotherapeutics had a negative net margin of 140.97% and a negative return on equity of 119.11%. The firm had revenue of $71.36 million during the quarter, compared to the consensus estimate of $60.52 million. Equities research analysts predict that Arcutis Biotherapeutics will post -1.33 earnings per share for the current year.

Insider Activity at Arcutis Biotherapeutics

In other news, insider Masaru Matsuda sold 8,338 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $12.70, for a total value of $105,892.60. Following the transaction, the insider now owns 178,692 shares in the company, valued at approximately $2,269,388.40. The trade was a 4.46 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Howard G. Welgus sold 10,000 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $12.71, for a total transaction of $127,100.00. Following the completion of the sale, the director now directly owns 141,944 shares in the company, valued at approximately $1,804,108.24. This represents a 6.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 46,099 shares of company stock worth $631,256 over the last ninety days. Insiders own 9.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Summit Investment Advisors Inc. grew its stake in Arcutis Biotherapeutics by 8.0% during the fourth quarter. Summit Investment Advisors Inc. now owns 11,245 shares of the company’s stock worth $157,000 after purchasing an additional 837 shares during the period. Amalgamated Bank grew its position in shares of Arcutis Biotherapeutics by 39.4% during the 1st quarter. Amalgamated Bank now owns 3,723 shares of the company’s stock worth $58,000 after buying an additional 1,053 shares during the period. China Universal Asset Management Co. Ltd. increased its stake in shares of Arcutis Biotherapeutics by 10.4% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 24,818 shares of the company’s stock valued at $346,000 after acquiring an additional 2,336 shares in the last quarter. GF Fund Management CO. LTD. acquired a new position in shares of Arcutis Biotherapeutics during the 4th quarter valued at $34,000. Finally, LVW Advisors LLC boosted its stake in Arcutis Biotherapeutics by 21.2% during the first quarter. LVW Advisors LLC now owns 14,466 shares of the company’s stock worth $226,000 after acquiring an additional 2,530 shares in the last quarter.

About Arcutis Biotherapeutics

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.