Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Given Average Rating of "Moderate Buy" by 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 earned an average rating of "Moderate Buy" from the seven research firms that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $19.80.

Several equities analysts have recently commented on the company. Cowen reiterated a "buy" rating on shares of Arcutis Biotherapeutics in a research note on Thursday, August 7th. Needham & Company LLC increased their target price on Arcutis Biotherapeutics from $20.00 to $22.00 and gave the company a "buy" rating in a research note on Thursday, August 7th. Wall Street Zen upgraded Arcutis Biotherapeutics from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Finally, The Goldman Sachs Group assumed coverage on Arcutis Biotherapeutics in a research note on Friday, July 25th. They set a "neutral" rating and a $18.00 target price for the company.

Arcutis Biotherapeutics Stock Up 4.0%

NASDAQ:ARQT traded up $0.62 during trading hours on Friday, hitting $15.94. The stock had a trading volume of 1,678,251 shares, compared to its average volume of 1,673,390. The company has a current ratio of 3.20, a quick ratio of 3.04 and a debt-to-equity ratio of 0.77. Arcutis Biotherapeutics has a 1-year low of $8.03 and a 1-year high of $17.75. The business has a 50 day simple moving average of $14.99 and a two-hundred day simple moving average of $14.48. The company has a market cap of $1.91 billion, a PE ratio of -21.25 and a beta of 1.93.

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. Arcutis Biotherapeutics had a negative net margin of 35.40% and a negative return on equity of 62.62%. The company had revenue of $81.50 million during the quarter, compared to the consensus estimate of $72.70 million. Analysts predict that Arcutis Biotherapeutics will post -1.33 EPS for the current year.

Insider Activity at Arcutis Biotherapeutics

In other news, Director Patrick J. Heron acquired 2,646 shares of Arcutis Biotherapeutics stock in a transaction that occurred on Friday, June 13th. The shares were purchased at an average cost of $13.08 per share, for a total transaction of $34,609.68. Following the completion of the purchase, the director directly owned 27,448 shares of the company's stock, valued at $359,019.84. This trade represents a 10.67% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Masaru Matsuda sold 6,330 shares of the firm'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 transaction, the insider owned 197,364 shares in the company, valued at $2,828,226.12. This trade represents a 3.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 77,512 shares of company stock worth $1,126,600. 9.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Arcutis Biotherapeutics

Several large investors have recently added to or reduced their stakes in the company. Wells Fargo & Company MN lifted its stake in Arcutis Biotherapeutics by 46.6% in the fourth quarter. Wells Fargo & Company MN now owns 52,455 shares of the company's stock valued at $731,000 after buying an additional 16,682 shares during the last quarter. First Trust Advisors LP bought a new stake in Arcutis Biotherapeutics in the fourth quarter valued at $3,665,000. MetLife Investment Management LLC lifted its stake in Arcutis Biotherapeutics by 6.2% in the fourth quarter. MetLife Investment Management LLC now owns 65,471 shares of the company's stock valued at $912,000 after buying an additional 3,813 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in Arcutis Biotherapeutics by 62.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 14,231 shares of the company's stock valued at $198,000 after buying an additional 5,488 shares during the last quarter. Finally, Hsbc Holdings PLC lifted its stake in Arcutis Biotherapeutics by 36.8% in the fourth quarter. Hsbc Holdings PLC now owns 17,551 shares of the company's stock valued at $248,000 after buying an additional 4,719 shares during the last quarter.

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.