Arcutis Biotherapeutics (NASDAQ:ARQT) Stock Price Up 3.7% – Should You Buy?

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) was up 3.7% during trading on Tuesday . The company traded as high as $11.50 and last traded at $11.17. Approximately 299,935 shares changed hands during mid-day trading, a decline of 91% from the average daily volume of 3,188,408 shares. The stock had previously closed at $10.77.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Jefferies Financial Group began coverage on shares of Arcutis Biotherapeutics in a report on Wednesday, August 28th. They issued a “buy” rating and a $15.00 target price on the stock. Needham & Company LLC restated a “buy” rating and set a $18.00 price objective on shares of Arcutis Biotherapeutics in a research note on Thursday, November 7th.

Arcutis Biotherapeutics Stock Up 2.7 %

The company has a debt-to-equity ratio of 0.67, a current ratio of 2.46 and a quick ratio of 2.38. The stock has a market capitalization of $1.29 billion, a price-to-earnings ratio of -6.02 and a beta of 1.18. The firm has a 50 day simple moving average of $9.57 and a 200-day simple moving average of $9.46.

Arcutis Biotherapeutics (NASDAQ:ARQT) last announced its earnings results on Wednesday, November 6th. The company reported ($0.33) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.09. The firm had revenue of $44.76 million during the quarter, compared to analyst estimates of $38.05 million. Arcutis Biotherapeutics had a negative net margin of 140.97% and a negative return on equity of 119.11%. On average, sell-side analysts forecast that Arcutis Biotherapeutics, Inc. will post -1.34 EPS for the current fiscal year.

Insider Buying and Selling

In other Arcutis Biotherapeutics news, Director Terrie Curran sold 8,687 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $10.85, for a total transaction of $94,253.95. Following the completion of the sale, the director now owns 10,139 shares in the company, valued at approximately $110,008.15. The trade was a 46.14 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO David Joseph Topper sold 11,626 shares of the company’s 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 completion of the sale, the chief financial officer now directly owns 158,374 shares of the company’s stock, valued at $1,501,385.52. The trade was a 6.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 60,928 shares of company stock worth $590,271. Corporate insiders own 9.50% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Point72 DIFC Ltd bought a new stake in shares of Arcutis Biotherapeutics during the 3rd quarter valued at $25,000. CWM LLC increased its holdings in shares of Arcutis Biotherapeutics by 6,740.0% in the second quarter. CWM LLC now owns 4,104 shares of the company’s stock worth $38,000 after purchasing an additional 4,044 shares during the last quarter. Algert Global LLC bought a new stake in shares of Arcutis Biotherapeutics in the 2nd quarter valued at approximately $97,000. Erste Asset Management GmbH bought a new stake in shares of Arcutis Biotherapeutics during the 3rd quarter worth approximately $104,000. Finally, Victory Capital Management Inc. lifted its holdings in Arcutis Biotherapeutics by 9.9% during the 3rd quarter. Victory Capital Management Inc. now owns 12,843 shares of the company’s stock valued at $119,000 after buying an additional 1,155 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.