Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Receives $19.80 Consensus Target Price from Analysts

Key Points

• Arcutis Biotherapeutics has received a consensus rating of "Moderate Buy" from seven brokerages, with one hold recommendation and six buy ratings, as reported by Marketbeat Ratings.
• The company's average 1-year target price is set at $19.80, with recent price targets raised by some analysts, including a climb to $22.00 from Needham & Company LLC.
• In its latest earnings report, Arcutis Biotherapeutics surpassed estimates by posting a revenue of $81.50 million and earnings per share of ($0.13), compared to analyst expectations.

Shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT - Get Free Report) have been given a consensus rating of "Moderate Buy" by the seven brokerages that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $19.80.

ARQT has been the topic of several recent analyst reports. Needham & Company LLC upped their price objective on shares of Arcutis Biotherapeutics from $20.00 to $22.00 and gave the stock a "buy" rating in a report on Thursday, August 7th. The Goldman Sachs Group initiated coverage on shares of Arcutis Biotherapeutics in a report on Friday, July 25th. They issued a "neutral" rating and a $18.00 price objective on the stock. Cowen restated a "buy" rating on shares of Arcutis Biotherapeutics in a report on Thursday, August 7th. Finally, Wall Street Zen raised Arcutis Biotherapeutics from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th.

Insider Activity

In other Arcutis Biotherapeutics news, insider Patrick Burnett sold 23,000 shares of the business's stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $15.05, for a total value of $346,150.00. Following the completion of the transaction, the insider owned 115,468 shares in the company, valued at $1,737,793.40. The trade was a 16.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Howard G. Welgus sold 10,139 shares of the stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $13.37, for a total value of $135,558.43. Following the completion of the sale, the director owned 109,414 shares in the company, valued at approximately $1,462,865.18. The trade was a 8.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have acquired 4,914 shares of company stock worth $64,853 and have sold 77,512 shares worth $1,126,600. Insiders own 9.40% of the company's stock.

Institutional Investors Weigh In On Arcutis Biotherapeutics

Large investors have recently bought and sold shares of the stock. PNC Financial Services Group Inc. lifted its position in shares of Arcutis Biotherapeutics by 10.2% during the 2nd quarter. PNC Financial Services Group Inc. now owns 8,828 shares of the company's stock worth $124,000 after purchasing an additional 820 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Arcutis Biotherapeutics by 3.2% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,697 shares of the company's stock valued at $464,000 after acquiring an additional 917 shares during the last quarter. Amalgamated Bank increased its holdings in shares of 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 acquiring an additional 1,053 shares during the last quarter. Creative Planning increased its holdings in shares of Arcutis Biotherapeutics by 8.2% in the 2nd quarter. Creative Planning now owns 19,575 shares of the company's stock valued at $274,000 after acquiring an additional 1,477 shares during the last quarter. Finally, Oxford Asset Management LLP increased its holdings in shares of Arcutis Biotherapeutics by 9.1% in the 2nd quarter. Oxford Asset Management LLP now owns 23,271 shares of the company's stock valued at $326,000 after acquiring an additional 1,947 shares during the last quarter.

Arcutis Biotherapeutics Trading Up 0.2%

Shares of Arcutis Biotherapeutics stock traded up $0.03 during trading hours on Friday, hitting $15.52. The company's stock had a trading volume of 1,185,283 shares, compared to its average volume of 1,736,448. The company has a debt-to-equity ratio of 0.77, a quick ratio of 3.04 and a current ratio of 3.20. Arcutis Biotherapeutics has a twelve month low of $8.03 and a twelve month high of $17.75. The firm has a fifty day moving average of $14.91 and a 200-day moving average of $14.44.

Arcutis Biotherapeutics (NASDAQ:ARQT - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.18) by $0.05. The firm had revenue of $81.50 million for the quarter, compared to analyst estimates of $72.70 million. Arcutis Biotherapeutics had a negative net margin of 35.40% and a negative return on equity of 62.62%. On average, equities analysts forecast that Arcutis Biotherapeutics will post -1.33 earnings per share for the current fiscal year.

Arcutis Biotherapeutics Company Profile

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.