Arcutis Biotherapeutics (NASDAQ:ARQT – Free Report) had its price target hoisted by Mizuho from $20.00 to $21.00 in a research note published on Wednesday morning,Benzinga reports. They currently have an outperform rating on the stock.
Several other equities research analysts have also issued reports on the stock. HC Wainwright reissued a “buy” rating and issued a $19.00 price target on shares of Arcutis Biotherapeutics in a report on Monday, January 13th. Guggenheim reissued a “buy” rating on shares of Arcutis Biotherapeutics in a research note on Monday. Finally, Needham & Company LLC restated a “buy” rating and set a $20.00 price target on shares of Arcutis Biotherapeutics in a research note on Wednesday. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Arcutis Biotherapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $17.20.
View Our Latest Report on ARQT
Arcutis Biotherapeutics Stock Up 8.4 %
Arcutis Biotherapeutics (NASDAQ:ARQT – Get Free Report) last announced its quarterly earnings data on Tuesday, February 25th. The company reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.19. The company 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%. On average, research analysts forecast that Arcutis Biotherapeutics will post -1.33 EPS for the current year.
Insider Transactions at Arcutis Biotherapeutics
In other news, insider Masaru Matsuda sold 8,338 shares of Arcutis Biotherapeutics stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $12.70, for a total value of $105,892.60. Following the completion of the transaction, the insider now owns 178,692 shares in the company, valued at approximately $2,269,388.40. The trade was a 4.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Howard G. Welgus sold 10,000 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $12.71, for a total value of $127,100.00. Following 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 ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 55,029 shares of company stock valued at $756,017. 9.50% of the stock is owned by insiders.
Institutional Investors Weigh In On Arcutis Biotherapeutics
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. GF Fund Management CO. LTD. acquired a new position in Arcutis Biotherapeutics in the fourth quarter worth $34,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Arcutis Biotherapeutics by 1.2% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 280,100 shares of the company’s stock valued at $3,902,000 after buying an additional 3,409 shares during the last quarter. Voloridge Investment Management LLC lifted its position in Arcutis Biotherapeutics by 126.5% during the 4th quarter. Voloridge Investment Management LLC now owns 290,938 shares of the company’s stock worth $4,053,000 after buying an additional 162,495 shares in the last quarter. Squarepoint Ops LLC grew its holdings in Arcutis Biotherapeutics by 67.2% during the 4th quarter. Squarepoint Ops LLC now owns 121,392 shares of the company’s stock worth $1,691,000 after acquiring an additional 48,769 shares during the last quarter. Finally, Suvretta Capital Management LLC increased its position in Arcutis Biotherapeutics by 6.3% in the 4th quarter. Suvretta Capital Management LLC now owns 11,399,138 shares of the company’s stock valued at $158,790,000 after acquiring an additional 677,627 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.
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