Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Receives $18.80 Consensus Target Price from Brokerages

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

Several equities research analysts recently commented on ARQT shares. Needham & Company LLC reaffirmed a “buy” rating and set a $20.00 target price on shares of Arcutis Biotherapeutics in a research note on Friday, May 23rd. Guggenheim reiterated a “buy” rating on shares of Arcutis Biotherapeutics in a research note on Thursday, April 3rd. Mizuho increased their target price on shares of Arcutis Biotherapeutics from $20.00 to $21.00 and gave the company an “outperform” rating in a research report on Wednesday, February 26th. HC Wainwright reissued a “buy” rating and set a $19.00 target price on shares of Arcutis Biotherapeutics in a research report on Thursday, April 3rd. Finally, Jefferies Financial Group raised their price objective on shares of Arcutis Biotherapeutics from $16.00 to $19.00 and gave the stock a “buy” rating in a report on Tuesday, March 11th.

Insider Buying and Selling

In other news, insider Larry Todd Edwards sold 7,451 shares of the business’s stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $14.07, for a total transaction of $104,835.57. Following the completion of the transaction, the insider now directly owns 183,104 shares of the company’s stock, valued at $2,576,273.28. The trade was a 3.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Patrick J. Heron acquired 2,646 shares of the firm’s stock in a transaction dated Friday, June 13th. The shares were bought at an average cost of $13.08 per share, with a total value of $34,609.68. Following the completion of the acquisition, the director now directly owns 27,448 shares of the company’s stock, valued at $359,019.84. The trade was a 10.67% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 7,434 shares of company stock valued at $99,277 and have sold 19,652 shares valued at $284,982. 9.40% of the stock is currently owned by insiders.

Institutional Trading of Arcutis Biotherapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GF Fund Management CO. LTD. purchased a new stake in Arcutis Biotherapeutics during the fourth quarter valued at approximately $34,000. Venturi Wealth Management LLC purchased a new stake in Arcutis Biotherapeutics during the fourth quarter valued at approximately $46,000. Amalgamated Bank increased its holdings in Arcutis Biotherapeutics by 39.4% during the first quarter. Amalgamated Bank now owns 3,723 shares of the company’s stock valued at $58,000 after buying an additional 1,053 shares during the last quarter. KBC Group NV purchased a new stake in Arcutis Biotherapeutics during the first quarter valued at approximately $84,000. Finally, Nkcfo LLC purchased a new stake in Arcutis Biotherapeutics during the first quarter valued at approximately $109,000.

Arcutis Biotherapeutics Stock Down 1.0%

Shares of ARQT opened at $13.26 on Friday. Arcutis Biotherapeutics has a one year low of $7.64 and a one year high of $17.75. The company has a market cap of $1.58 billion, a P/E ratio of -12.75 and a beta of 1.76. The company has a debt-to-equity ratio of 0.75, a current ratio of 3.55 and a quick ratio of 3.37. The firm has a 50 day simple moving average of $13.87 and a two-hundred day simple moving average of $13.96.

Arcutis Biotherapeutics (NASDAQ:ARQT) last announced its quarterly earnings data on Tuesday, May 6th. The company reported ($0.20) EPS for the quarter, beating the consensus estimate of ($0.21) by $0.01. The business had revenue of $65.85 million during the quarter, compared to the consensus estimate of $64.80 million. Arcutis Biotherapeutics had a negative net margin of 60.95% and a negative return on equity of 80.66%. Research analysts forecast that Arcutis Biotherapeutics will post -1.33 EPS for the current fiscal year.

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.