Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT - Get Free Report) have received a consensus rating of "Moderate Buy" from the six brokerages that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $18.80.

Several equities research analysts recently issued reports on ARQT shares. HC Wainwright reissued a "buy" rating and issued a $19.00 price objective on shares of Arcutis Biotherapeutics in a research note on Thursday, April 3rd. Needham & Company LLC reissued a "buy" rating and issued a $20.00 price objective on shares of Arcutis Biotherapeutics in a research note on Friday, May 23rd. Mizuho increased their price objective on Arcutis Biotherapeutics from $20.00 to $21.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 26th. Guggenheim reaffirmed a "buy" rating on shares of Arcutis Biotherapeutics in a research note on Thursday, April 3rd. Finally, The Goldman Sachs Group raised their price target on Arcutis Biotherapeutics from $13.00 to $15.00 and gave the stock a "neutral" rating in a research note on Thursday, February 27th.

Insider Activity at Arcutis Biotherapeutics

In related news, Director Patrick J. Heron acquired 2,520 shares of the business's stock in a transaction that occurred on Wednesday, May 21st. The shares were acquired at an average cost of $13.66 per share, with a total value of $34,423.20. Following the purchase, the director now owns 20,014 shares of the company's stock, valued at approximately $273,391.24. The trade was a 14.40% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Larry Todd Edwards sold 7,451 shares of the firm's stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $14.07, for a total value of $104,835.57. Following the completion of the sale, the insider now directly owns 183,104 shares in the company, valued at $2,576,273.28. This trade represents a 3.91% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have purchased 7,434 shares of company stock valued at $99,277 and have sold 19,652 shares valued at $284,982. 9.40% of the stock is owned by company insiders.

Institutional Trading of Arcutis Biotherapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GF Fund Management CO. LTD. acquired a new stake in shares of Arcutis Biotherapeutics during the 4th quarter worth approximately $34,000. Venturi Wealth Management LLC bought a new position in Arcutis Biotherapeutics in the 4th quarter valued at $46,000. Amalgamated Bank raised its position in Arcutis Biotherapeutics by 39.4% in the 1st quarter. Amalgamated Bank now owns 3,723 shares of the company's stock valued at $58,000 after purchasing an additional 1,053 shares during the last quarter. KBC Group NV bought a new stake in shares of Arcutis Biotherapeutics during the first quarter worth $84,000. Finally, Nkcfo LLC bought a new stake in shares of Arcutis Biotherapeutics during the first quarter worth $109,000.

Arcutis Biotherapeutics Stock Up 3.1%

Arcutis Biotherapeutics stock traded up $0.41 during mid-day trading on Friday, hitting $13.67. The company's stock had a trading volume of 2,333,551 shares, compared to its average volume of 2,250,731. The firm's 50 day moving average is $13.85 and its 200 day moving average is $13.95. The company has a market cap of $1.63 billion, a PE ratio of -13.14 and a beta of 1.76. The company has a debt-to-equity ratio of 0.75, a current ratio of 3.55 and a quick ratio of 3.37. Arcutis Biotherapeutics has a 52-week low of $7.86 and a 52-week high of $17.75.

Arcutis Biotherapeutics (NASDAQ:ARQT - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported ($0.20) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.01. The firm had revenue of $65.85 million during the quarter, compared to the consensus estimate of $64.80 million. Arcutis Biotherapeutics had a negative return on equity of 80.66% and a negative net margin of 60.95%. On average, analysts anticipate that Arcutis Biotherapeutics will post -1.33 earnings per share for the current 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.