Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT - Get Free Report) has been given a consensus rating of "Moderate Buy" by the six brokerages that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $18.80.
Several brokerages have recently issued reports on ARQT. Needham & Company LLC reissued a "buy" rating and issued a $20.00 price target on shares of Arcutis Biotherapeutics in a report on Wednesday, April 9th. Jefferies Financial Group increased their price target on Arcutis Biotherapeutics from $16.00 to $19.00 and gave the stock a "buy" rating in a report on Tuesday, March 11th. Mizuho lifted their price objective on Arcutis Biotherapeutics from $20.00 to $21.00 and gave the company an "outperform" rating in a report on Wednesday, February 26th. The Goldman Sachs Group increased their target price on Arcutis Biotherapeutics from $13.00 to $15.00 and gave the stock a "neutral" rating in a research note on Thursday, February 27th. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $19.00 price target on shares of Arcutis Biotherapeutics in a research note on Thursday, April 3rd.
View Our Latest Stock Report on Arcutis Biotherapeutics
Arcutis Biotherapeutics Trading Down 1.9 %
Shares of Arcutis Biotherapeutics stock traded down $0.28 during trading on Friday, reaching $14.63. 559,554 shares of the company were exchanged, compared to its average volume of 2,372,984. The business has a 50-day moving average price of $14.58 and a 200-day moving average price of $12.95. The firm has a market capitalization of $1.74 billion, a price-to-earnings ratio of -8.19 and a beta of 1.67. The company has a quick ratio of 2.38, a current ratio of 2.46 and a debt-to-equity ratio of 0.67. Arcutis Biotherapeutics has a twelve month low of $6.99 and a twelve month high of $17.75.
Arcutis Biotherapeutics (NASDAQ:ARQT - Get Free Report) last posted its earnings results on Tuesday, February 25th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.28) by $0.19. Arcutis Biotherapeutics had a negative return on equity of 119.11% and a negative net margin of 140.97%. The company had revenue of $71.36 million during the quarter, compared to analyst estimates of $60.52 million. Sell-side analysts anticipate that Arcutis Biotherapeutics will post -1.33 EPS for the current fiscal year.
Insiders Place Their Bets
In other Arcutis Biotherapeutics news, insider Masaru Matsuda sold 8,338 shares of the firm's stock in a transaction that occurred on Monday, February 3rd. The stock was 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 directly owns 178,692 shares in the company, valued at $2,269,388.40. This trade represents a 4.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Todd Franklin Watanabe sold 1,500 shares of the company's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $17.52, for a total value of $26,280.00. Following the sale, the insider now owns 927,414 shares in the company, valued at approximately $16,248,293.28. This represents a 0.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 46,099 shares of company stock valued at $631,256 in the last quarter. 9.50% of the stock is currently owned by insiders.
Hedge Funds 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 shares of Arcutis Biotherapeutics during the 4th quarter worth approximately $34,000. Venturi Wealth Management LLC bought a new position in Arcutis Biotherapeutics during the fourth quarter worth $46,000. Amalgamated Bank boosted its position in Arcutis Biotherapeutics by 39.4% during the first quarter. Amalgamated Bank now owns 3,723 shares of the company's stock worth $58,000 after purchasing an additional 1,053 shares during the period. KBC Group NV acquired a new position in shares of Arcutis Biotherapeutics in the first quarter valued at $84,000. Finally, Cibc World Markets Corp bought a new position in shares of Arcutis Biotherapeutics in the fourth quarter valued at about $140,000.
About Arcutis Biotherapeutics
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Get Free ReportArcutis 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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