Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Given Average Rating of "Moderate Buy" by Brokerages

Key Points

• Arcutis Biotherapeutics, Inc. has received a consensus rating of "Moderate Buy" from six brokerages, with five analysts recommending a buy and one a hold. The average 1-year price target among analysts is $19.40.
• Insider activity includes Director Patrick J. Heron buying 2,646 shares at an average price of $13.08, increasing his ownership stake by 10.67%.
• Arcutis reported a quarterly earnings per share of ($0.20), beating estimates of ($0.21), with revenues of $65.85 million exceeding forecasts.

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT - Get Free Report) has been assigned an average rating of "Moderate Buy" from the six research firms that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $19.80.

Several equities analysts have weighed in on ARQT shares. Cowen restated a "buy" rating on shares of Arcutis Biotherapeutics in a report on Thursday. The Goldman Sachs Group started coverage on Arcutis Biotherapeutics in a research note on Friday, July 25th. They set a "neutral" rating and a $18.00 price target for the company. Finally, Needham & Company LLC raised their price target on Arcutis Biotherapeutics from $20.00 to $22.00 and gave the stock a "buy" rating in a research note on Thursday.

Insider Transactions at Arcutis Biotherapeutics

In other news, Director Howard G. Welgus sold 10,000 shares of Arcutis Biotherapeutics stock in a transaction on Friday, August 1st. The stock was sold at an average price of $14.30, for a total value of $143,000.00. Following the completion of the sale, the director directly owned 100,206 shares of the company's stock, valued at approximately $1,432,945.80. The trade was a 9.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Masaru Matsuda sold 6,330 shares of the company's stock in a transaction on Monday, August 4th. The stock was sold at an average price of $14.33, for a total value of $90,708.90. Following the sale, the insider directly owned 197,364 shares in the company, valued at $2,828,226.12. This represents a 3.11% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have acquired 7,434 shares of company stock valued at $99,277 and have sold 78,728 shares valued at $1,136,027. Company insiders own 9.40% of the company's stock.

Institutional Trading of Arcutis Biotherapeutics

Institutional investors have recently bought and sold shares of the business. GF Fund Management CO. LTD. purchased a new position in shares of Arcutis Biotherapeutics during the 4th quarter worth approximately $34,000. Amalgamated Bank grew its stake in shares of Arcutis Biotherapeutics by 39.4% during the 1st quarter. Amalgamated Bank now owns 3,723 shares of the company's stock valued at $58,000 after buying an additional 1,053 shares during the period. KBC Group NV purchased a new stake in Arcutis Biotherapeutics during the first quarter valued at about $84,000. Nkcfo LLC acquired a new position in shares of Arcutis Biotherapeutics during the first quarter worth about $109,000. Finally, Allostery Investments LP acquired a new position in shares of Arcutis Biotherapeutics during the first quarter worth about $117,000.

Arcutis Biotherapeutics Stock Down 7.8%

Arcutis Biotherapeutics stock traded down $1.19 during mid-day trading on Monday, hitting $14.17. The company had a trading volume of 3,519,320 shares, compared to its average volume of 2,144,687. The company has a current ratio of 3.55, a quick ratio of 3.37 and a debt-to-equity ratio of 0.75. The stock's 50 day moving average price is $14.25 and its two-hundred day moving average price is $14.13. Arcutis Biotherapeutics has a 12 month low of $8.03 and a 12 month high of $17.75. The company has a market capitalization of $1.69 billion, a PE ratio of -13.44 and a beta of 1.84.

Arcutis Biotherapeutics (NASDAQ:ARQT - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.18) by $0.05. Arcutis Biotherapeutics had a negative return on equity of 80.66% and a negative net margin of 60.95%. The business had revenue of $81.50 million during the quarter, compared to the consensus estimate of $72.70 million. As a group, sell-side analysts anticipate that Arcutis Biotherapeutics will post -1.33 earnings per share for the current fiscal year.

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.