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

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) has received an average rating of “Moderate Buy” from the six ratings firms that are covering the stock, Marketbeat Ratings reports. One 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 analysts that have issued a report on the stock in the last year is $18.80.

Several brokerages have recently weighed in on ARQT. HC Wainwright reaffirmed a “buy” rating and set a $19.00 price target on shares of Arcutis Biotherapeutics in a research note on Thursday. Mizuho raised 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. Guggenheim reissued a “buy” rating on shares of Arcutis Biotherapeutics in a research report on Thursday. Needham & Company LLC restated a “buy” rating and issued a $20.00 price objective on shares of Arcutis Biotherapeutics in a report on Thursday. Finally, Jefferies Financial Group lifted their target price on Arcutis Biotherapeutics from $16.00 to $19.00 and gave the company a “buy” rating in a research report on Tuesday, March 11th.

Arcutis Biotherapeutics Price Performance

Shares of NASDAQ ARQT opened at $16.16 on Tuesday. The company has a fifty day moving average price of $14.19 and a 200 day moving average price of $12.38. The firm has a market cap of $1.92 billion, a PE ratio of -9.03 and a beta of 1.48. 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, topping analysts’ consensus estimates of ($0.28) by $0.19. The business had revenue of $71.36 million during the quarter, compared to the consensus estimate of $60.52 million. Arcutis Biotherapeutics had a negative return on equity of 119.11% and a negative net margin of 140.97%. Research analysts predict that Arcutis Biotherapeutics will post -1.33 earnings per share for the current fiscal year.

Insider Buying and Selling at Arcutis Biotherapeutics

In related news, insider Todd Franklin Watanabe sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $17.52, for a total transaction of $26,280.00. Following the transaction, the insider now directly owns 927,414 shares of the company’s stock, valued at approximately $16,248,293.28. The trade was a 0.16 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Howard G. Welgus sold 10,000 shares of the stock in a transaction on 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 owns 141,944 shares in the company, valued at approximately $1,804,108.24. This trade represents a 6.58 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 46,099 shares of company stock worth $631,256 over the last quarter. 9.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Arcutis Biotherapeutics

Several institutional investors and hedge funds have recently modified their holdings of ARQT. 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 buying an additional 837 shares during the period. China Universal Asset Management Co. Ltd. raised its holdings in 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 during the period. GF Fund Management CO. LTD. acquired a new stake in Arcutis Biotherapeutics during the fourth quarter worth approximately $34,000. Point72 DIFC Ltd bought a new stake in shares of Arcutis Biotherapeutics during the third quarter worth approximately $25,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Arcutis Biotherapeutics by 1.1% in the third 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 purchasing an additional 2,912 shares during 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.