Arcutis Biotherapeutics (NASDAQ:ARQT) Reaches New 1-Year High – Still a Buy?

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT)’s share price reached a new 52-week high during trading on Monday . The stock traded as high as $13.59 and last traded at $13.50, with a volume of 551377 shares changing hands. The stock had previously closed at $12.69.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on ARQT shares. Needham & Company LLC reiterated a “buy” rating and issued a $18.00 price objective on shares of Arcutis Biotherapeutics in a report on Thursday, November 7th. Jefferies Financial Group initiated coverage on shares of Arcutis Biotherapeutics in a research note on Wednesday, August 28th. They issued a “buy” rating and a $15.00 price target for the company.

Arcutis Biotherapeutics Stock Up 6.9 %

The company has a market cap of $1.59 billion, a P/E ratio of -7.58 and a beta of 1.32. The company has a quick ratio of 2.38, a current ratio of 2.46 and a debt-to-equity ratio of 0.67. The company has a fifty day moving average of $10.30 and a 200 day moving average of $9.80.

Arcutis Biotherapeutics (NASDAQ:ARQT) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($0.33) EPS for the quarter, beating the consensus estimate 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, research analysts anticipate that Arcutis Biotherapeutics, Inc. will post -1.34 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Howard G. Welgus sold 10,000 shares of the company’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $12.51, for a total value of $125,100.00. Following the completion of the transaction, the director now owns 161,944 shares of the company’s stock, valued at $2,025,919.44. This represents a 5.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Terrie Curran sold 8,687 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $10.85, for a total value of $94,253.95. Following the sale, the director now owns 10,139 shares of the company’s stock, valued at $110,008.15. This represents a 46.14 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 76,951 shares of company stock worth $770,144. Company insiders own 9.50% of the company’s stock.

Hedge Funds Weigh In On Arcutis Biotherapeutics

Several institutional investors have recently bought and sold shares of ARQT. Point72 DIFC Ltd bought a new stake in Arcutis Biotherapeutics in 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 purchased a new stake in shares of Arcutis Biotherapeutics in the second quarter worth about $97,000. Erste Asset Management GmbH bought a new position in Arcutis Biotherapeutics during the third quarter valued at approximately $104,000. Finally, Victory Capital Management Inc. grew 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.

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.