Arcutis Biotherapeutics (NASDAQ:ARQT) Rating Lowered to Buy at Wall Street Zen

Key Points

• Wall Street Zen downgraded Arcutis Biotherapeutics from “strong buy” to “buy.” Overall analyst sentiment remains positive, with seven Buy ratings, three Holds, a “Moderate Buy” consensus, and an average price target of $36.
• Arcutis shares opened at $26.58, with a market capitalization of approximately $3.34 billion and a 52-week range of $19.30 to $31.77. The company recently reported quarterly EPS of $0.11, ahead of the $0.06 consensus estimate, and revenue of $129.86 million.
• Insiders sold 79,225 shares worth about $2.02 million over the past 90 days. Institutional investors, meanwhile, made several new purchases and increased holdings in the company.

Arcutis Biotherapeutics (NASDAQ:ARQT - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a note issued to investors on Saturday, Wall Street Zen reports.

Several other equities research analysts have also recently weighed in on ARQT. Weiss Ratings raised shares of Arcutis Biotherapeutics from a "hold (c-)" rating to a "hold (c)" rating in a research report on Thursday, September 24th. Morgan Stanley boosted their price objective on shares of Arcutis Biotherapeutics from $34.00 to $38.00 and gave the company an "overweight" rating in a research report on Thursday, August 6th. Jefferies Financial Group reaffirmed a "buy" rating and set a $39.00 price objective on shares of Arcutis Biotherapeutics in a research note on Thursday. Needham & Company LLC increased their target price on shares of Arcutis Biotherapeutics from $36.00 to $40.00 and gave the stock a "buy" rating in a report on Thursday, August 6th. Finally, Guggenheim raised their target price on Arcutis Biotherapeutics from $35.00 to $38.00 and gave the stock a "buy" rating in a research note on Thursday, August 6th. Seven analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $36.00.

Arcutis Biotherapeutics Price Performance

Shares of Arcutis Biotherapeutics stock opened at $26.58 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.92 and a quick ratio of 2.67. Arcutis Biotherapeutics has a one year low of $19.30 and a one year high of $31.77. The business's 50 day simple moving average is $25.33 and its two-hundred day simple moving average is $24.63. The stock has a market capitalization of $3.34 billion, a P/E ratio of 126.58 and a beta of 1.57.

Arcutis Biotherapeutics (NASDAQ:ARQT - Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.05. Arcutis Biotherapeutics had a net margin of 6.15% and a return on equity of 15.05%. The firm had revenue of $129.86 million for the quarter, compared to analysts' expectations of $118.85 million. Analysts forecast that Arcutis Biotherapeutics will post 0.42 EPS for the current year.

Insiders Place Their Bets

In related news, Director Terrie Curran sold 38,200 shares of the business's stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $25.03, for a total transaction of $956,146.00. Following the transaction, the director owned 23,526 shares in the company, valued at $588,855.78. The trade was a 61.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Masaru Matsuda sold 9,989 shares of the business's stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $25.03, for a total transaction of $250,024.67. Following the transaction, the insider owned 116,182 shares in the company, valued at $2,908,035.46. This represents a 7.92% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 79,225 shares of company stock worth $2,015,966. Company insiders own 9.40% of the company's stock.

Institutional Trading of Arcutis Biotherapeutics

Institutional investors and hedge funds have recently bought and sold shares of the stock. Toth Financial Advisory Corp purchased a new position in shares of Arcutis Biotherapeutics in the 3rd quarter valued at approximately $285,000. Tidal Investments LLC purchased a new stake in Arcutis Biotherapeutics in the second quarter worth $606,000. Integrated Wealth Concepts LLC purchased a new stake in Arcutis Biotherapeutics in the second quarter worth $84,000. Arizona State Retirement System raised its holdings in Arcutis Biotherapeutics by 1.7% in the second quarter. Arizona State Retirement System now owns 30,802 shares of the company's stock worth $808,000 after purchasing an additional 521 shares in the last quarter. Finally, Nykredit A S bought a new position in Arcutis Biotherapeutics in the second quarter worth $63,000.

Arcutis Biotherapeutics Company Profile

Arcutis Biotherapeutics, Inc NASDAQ: ARQT is a biopharmaceutical company focused on developing and commercializing treatments for dermatologic conditions. The company concentrates on medical dermatology, with an emphasis on addressing diseases that can significantly affect patients' quality of life and for which additional treatment options are needed.

Arcutis's primary commercial product is ZORYVE (roflumilast), a topical phosphodiesterase-4 inhibitor available in multiple formulations.

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