Guggenheim Reiterates Buy Rating for Arcutis Biotherapeutics (NASDAQ:ARQT)

Arcutis Biotherapeutics (NASDAQ:ARQT)‘s stock had its “buy” rating reissued by investment analysts at Guggenheim in a report released on Thursday,Benzinga reports.

A number of other research analysts also recently weighed in on ARQT. Mizuho upped their price objective on shares of Arcutis Biotherapeutics from $20.00 to $21.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 26th. Jefferies Financial Group upped their price target on Arcutis Biotherapeutics from $16.00 to $19.00 and gave the stock a “buy” rating in a report on Tuesday, March 11th. Needham & Company LLC reiterated a “buy” rating and set a $20.00 price target on shares of Arcutis Biotherapeutics in a research report on Thursday. The Goldman Sachs Group boosted their price objective on Arcutis Biotherapeutics from $13.00 to $15.00 and gave the company a “neutral” rating in a research report on Thursday, February 27th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $19.00 target price on shares of Arcutis Biotherapeutics in a research note on Thursday. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $18.80.

Arcutis Biotherapeutics Stock Down 8.8 %

Shares of ARQT stock opened at $14.73 on Thursday. 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 twelve month low of $6.99 and a twelve month high of $17.75. The stock has a 50 day moving average of $14.20 and a 200 day moving average of $12.41. The stock has a market cap of $1.75 billion, a P/E ratio of -8.23 and a beta of 1.67.

Arcutis Biotherapeutics (NASDAQ:ARQT) last posted its earnings results on Tuesday, February 25th. The company reported ($0.09) earnings per share for the quarter, beating the consensus estimate 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 analyst estimates of $60.52 million. As a group, sell-side analysts expect that Arcutis Biotherapeutics will post -1.33 EPS for the current year.

Insider Buying and Selling

In other news, Director Howard G. Welgus sold 10,000 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $12.71, for a total value of $127,100.00. Following the completion of the sale, the director now directly owns 141,944 shares in the company, valued at $1,804,108.24. This represents a 6.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Patrick Burnett sold 12,242 shares of the firm’s stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $15.04, for a total transaction of $184,119.68. Following the completion of the transaction, the insider now directly owns 121,936 shares in the company, valued at approximately $1,833,917.44. This represents a 9.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 46,099 shares of company stock worth $631,256. Insiders own 9.50% of the company’s stock.

Institutional Trading of Arcutis Biotherapeutics

Hedge funds have recently bought and sold shares of the business. Summit Investment Advisors Inc. boosted its holdings in shares of Arcutis Biotherapeutics by 8.0% during the 4th 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 last quarter. China Universal Asset Management Co. Ltd. lifted its position in Arcutis Biotherapeutics by 10.4% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 24,818 shares of the company’s stock worth $346,000 after buying an additional 2,336 shares in the last quarter. GF Fund Management CO. LTD. purchased a new position in Arcutis Biotherapeutics during the fourth quarter worth approximately $34,000. Point72 DIFC Ltd acquired a new position in Arcutis Biotherapeutics during the third quarter worth $25,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Arcutis Biotherapeutics by 1.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 276,691 shares of the company’s stock valued at $2,573,000 after buying an additional 2,912 shares in the last quarter.

Arcutis Biotherapeutics Company Profile

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.