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

Key Points

• Arcutis Biotherapeutics has a consensus analyst rating of “Moderate Buy” from eight firms, with five buy ratings, two hold ratings, and one sell rating. The average 1-year price target is $34.00.
• Recent analyst actions were mixed: Needham reiterated a buy rating with a $36 target, Wall Street Zen upgraded the stock to buy, and Weiss Ratings maintained a sell rating.
• The company reported a smaller-than-expected loss last quarter, with EPS of -$0.09 versus an expected -$0.02, while revenue came in at $105.4 million, slightly above estimates.

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT - Get Free Report) has been assigned an average rating of "Moderate Buy" from the eight ratings firms that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $34.00.

Several research firms have weighed in on ARQT. Needham & Company LLC restated a "buy" rating and set a $36.00 target price on shares of Arcutis Biotherapeutics in a research note on Thursday, May 7th. Wall Street Zen upgraded Arcutis Biotherapeutics from a "hold" rating to a "buy" rating in a research note on Sunday, July 12th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Arcutis Biotherapeutics in a report on Wednesday, June 24th.

Insiders Place Their Bets

In other Arcutis Biotherapeutics news, insider Masaru Matsuda sold 8,256 shares of Arcutis Biotherapeutics stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $23.31, for a total value of $192,447.36. Following the transaction, the insider owned 126,689 shares in the company, valued at $2,953,120.59. The trade was a 6.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Latha Vairavan sold 1,341 shares of the business's stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $23.61, for a total value of $31,661.01. Following the transaction, the chief financial officer directly owned 86,413 shares of the company's stock, valued at approximately $2,040,210.93. The trade was a 1.53% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 30,931 shares of company stock valued at $730,086 over the last ninety days. 9.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Arcutis Biotherapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Zevenbergen Capital Investments LLC acquired a new stake in Arcutis Biotherapeutics during the 4th quarter worth approximately $12,140,000. UBS Group AG increased its position in Arcutis Biotherapeutics by 10.0% in the 4th quarter. UBS Group AG now owns 3,243,432 shares of the company's stock valued at $94,189,000 after acquiring an additional 294,994 shares during the period. Nordea Investment Management AB bought a new position in shares of Arcutis Biotherapeutics during the fourth quarter valued at $5,850,000. Tudor Investment Corp ET AL acquired a new position in shares of Arcutis Biotherapeutics during the third quarter worth $1,319,000. Finally, Vanguard Group Inc. lifted its holdings in shares of Arcutis Biotherapeutics by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 7,253,936 shares of the company's stock worth $210,654,000 after purchasing an additional 107,846 shares during the period.

Arcutis Biotherapeutics Price Performance

Shares of NASDAQ:ARQT opened at $28.49 on Monday. The firm has a 50 day moving average of $24.17 and a 200-day moving average of $24.77. The stock has a market capitalization of $3.56 billion, a PE ratio of -949.35 and a beta of 1.48. The company has a current ratio of 2.68, a quick ratio of 2.46 and a debt-to-equity ratio of 0.54. Arcutis Biotherapeutics has a 12 month low of $13.69 and a 12 month high of $31.77.

Arcutis Biotherapeutics (NASDAQ:ARQT - Get Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.07). The firm had revenue of $105.40 million for the quarter, compared to analyst estimates of $103.67 million. Arcutis Biotherapeutics had a negative return on equity of 1.41% and a negative net margin of 0.57%. On average, equities research analysts predict that Arcutis Biotherapeutics will post 0.16 EPS for the current fiscal year.

About Arcutis Biotherapeutics

Arcutis Biotherapeutics is a clinical-stage biopharmaceutical company focused on developing and commercializing innovative therapies for immuno-inflammatory skin diseases. The company's research and development efforts center on targeted treatments that address the underlying biology of conditions such as plaque psoriasis, atopic dermatitis, seborrheic dermatitis and vitiligo. Arcutis employs a precision-medicine approach to deliver topical therapies designed to improve efficacy and tolerability compared with existing treatment options.

In August 2022, Arcutis received U.S.

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