Jefferies Financial Group Forecasts Strong Price Appreciation for Arcutis Biotherapeutics (NASDAQ:ARQT) Stock

Arcutis Biotherapeutics (NASDAQ:ARQT) had its price objective upped by equities research analysts at Jefferies Financial Group from $16.00 to $19.00 in a research report issued to clients and investors on Tuesday, MarketBeat Ratings reports. The brokerage currently has a “buy” rating on the stock. Jefferies Financial Group’s price objective would indicate a potential upside of 25.33% from the company’s current price.

A number of other research analysts have also commented on the company. The Goldman Sachs Group upped their price target on Arcutis Biotherapeutics from $13.00 to $15.00 and gave the stock a “neutral” rating in a report on Thursday, February 27th. Guggenheim reiterated a “buy” rating on shares of Arcutis Biotherapeutics in a report on Monday, February 24th. Mizuho upped their price target on Arcutis Biotherapeutics from $20.00 to $21.00 and gave the stock an “outperform” rating in a report on Wednesday, February 26th. HC Wainwright reiterated a “buy” rating and set a $19.00 price target on shares of Arcutis Biotherapeutics in a report on Wednesday, February 26th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $20.00 price target on shares of Arcutis Biotherapeutics in a report on Wednesday, February 26th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $18.80.

Arcutis Biotherapeutics Stock Down 2.1 %

ARQT opened at $15.16 on Tuesday. The business has a 50 day moving average price of $13.49 and a 200 day moving average price of $11.76. Arcutis Biotherapeutics has a twelve month low of $6.99 and a twelve month high of $16.20. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.38 and a current ratio of 2.46. The firm has a market cap of $1.80 billion, a P/E ratio of -8.47 and a beta of 1.48.

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

Insider Activity at Arcutis Biotherapeutics

In related news, Director Howard G. Welgus sold 10,000 shares of the company’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $13.00, for a total value of $130,000.00. Following the completion of the transaction, the director now directly owns 131,944 shares in the company, valued at approximately $1,715,272. This represents a 7.05 % 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 Masaru Matsuda sold 8,338 shares of the company’s stock in a transaction 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 completion of the transaction, the insider now owns 178,692 shares of the company’s stock, valued at $2,269,388.40. The trade was a 4.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 57,848 shares of company stock worth $797,648. 9.50% of the stock is owned by corporate insiders.

Institutional Trading of Arcutis Biotherapeutics

A number of large investors have recently bought and sold shares of the stock. Jennison Associates LLC grew its position in Arcutis Biotherapeutics by 5.8% in the fourth quarter. Jennison Associates LLC now owns 12,339,792 shares of the company’s stock valued at $171,893,000 after acquiring an additional 676,295 shares during the period. Suvretta Capital Management LLC grew its position in Arcutis Biotherapeutics by 6.3% in the fourth quarter. Suvretta Capital Management LLC now owns 11,399,138 shares of the company’s stock valued at $158,790,000 after acquiring an additional 677,627 shares during the period. Rubric Capital Management LP grew its position in Arcutis Biotherapeutics by 11.7% in the third quarter. Rubric Capital Management LP now owns 10,966,672 shares of the company’s stock valued at $101,990,000 after acquiring an additional 1,150,000 shares during the period. Polar Capital Holdings Plc grew its position in Arcutis Biotherapeutics by 7.2% in the fourth quarter. Polar Capital Holdings Plc now owns 7,377,381 shares of the company’s stock valued at $102,767,000 after acquiring an additional 493,009 shares during the period. Finally, State Street Corp grew its position in Arcutis Biotherapeutics by 9.9% in the third quarter. State Street Corp now owns 5,641,631 shares of the company’s stock valued at $52,467,000 after acquiring an additional 506,788 shares during the period.

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.