Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Receives $13.33 Consensus PT from Analysts

Shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) have been assigned an average recommendation of “Moderate Buy” from the seven research firms that are presently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $13.33.

ARQT has been the topic of several analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $18.00 target price on shares of Arcutis Biotherapeutics in a report on Thursday, August 15th. Jefferies Financial Group started coverage on Arcutis Biotherapeutics in a research note on Wednesday, August 28th. They set a “buy” rating and a $15.00 price objective on the stock.

Insider Buying and Selling at Arcutis Biotherapeutics

In other news, CFO David Joseph Topper sold 11,626 shares of Arcutis Biotherapeutics stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $9.48, for a total transaction of $110,214.48. Following the completion of the transaction, the chief financial officer now directly owns 158,374 shares in the company, valued at approximately $1,501,385.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Howard G. Welgus sold 10,000 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $9.87, for a total transaction of $98,700.00. Following the completion of the sale, the director now owns 176,953 shares in the company, valued at approximately $1,746,526.11. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO David Joseph Topper sold 11,626 shares of Arcutis Biotherapeutics stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $9.48, for a total transaction of $110,214.48. Following the sale, the chief financial officer now directly owns 158,374 shares of the company’s stock, valued at approximately $1,501,385.52. The disclosure for this sale can be found here. Insiders have sold 52,299 shares of company stock worth $507,911 over the last 90 days. Company insiders own 9.50% of the company’s stock.

Institutional Investors Weigh In On Arcutis Biotherapeutics

Hedge funds have recently bought and sold shares of the stock. Victory Capital Management Inc. bought a new position in shares of Arcutis Biotherapeutics during the fourth quarter worth approximately $34,000. Vestal Point Capital LP bought a new position in Arcutis Biotherapeutics during the 4th quarter worth $8,721,000. Rubric Capital Management LP lifted its holdings in shares of Arcutis Biotherapeutics by 32.0% during the fourth quarter. Rubric Capital Management LP now owns 6,644,530 shares of the company’s stock worth $21,462,000 after buying an additional 1,610,000 shares in the last quarter. Pivotal bioVenture Partners Investment Advisor LLC boosted its position in shares of Arcutis Biotherapeutics by 72.8% in the fourth quarter. Pivotal bioVenture Partners Investment Advisor LLC now owns 1,910,009 shares of the company’s stock valued at $6,169,000 after acquiring an additional 804,700 shares during the period. Finally, Ghisallo Capital Management LLC acquired a new position in shares of Arcutis Biotherapeutics in the fourth quarter valued at about $323,000.

Arcutis Biotherapeutics Price Performance

Shares of ARQT opened at $10.18 on Friday. The company has a quick ratio of 8.19, a current ratio of 8.46 and a debt-to-equity ratio of 1.09. Arcutis Biotherapeutics has a twelve month low of $1.76 and a twelve month high of $13.17. The stock has a market capitalization of $1.18 billion, a P/E ratio of -3.47 and a beta of 1.17. The company has a 50 day moving average of $9.81 and a 200-day moving average of $9.49.

Arcutis Biotherapeutics (NASDAQ:ARQT) last released its earnings results on Wednesday, August 14th. The company reported ($0.42) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.06. Arcutis Biotherapeutics had a negative net margin of 150.51% and a negative return on equity of 145.41%. The business had revenue of $30.86 million during the quarter, compared to the consensus estimate of $31.00 million. During the same quarter last year, the firm earned ($1.16) earnings per share. As a group, equities research analysts forecast that Arcutis Biotherapeutics will post -1.56 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.