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

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the eight research firms that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $19.80.

A number of research analysts recently commented on ARQT shares. The Goldman Sachs Group started coverage on Arcutis Biotherapeutics in a report on Friday, July 25th. They issued a "neutral" rating and a $18.00 price target for the company. Weiss Ratings reissued a "sell (e+)" rating on shares of Arcutis Biotherapeutics in a report on Tuesday. Needham & Company LLC increased their price target on Arcutis Biotherapeutics from $20.00 to $22.00 and gave the company a "buy" rating in a report on Thursday, August 7th. Wall Street Zen raised Arcutis Biotherapeutics from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Finally, Cowen reissued a "buy" rating on shares of Arcutis Biotherapeutics in a report on Thursday, August 7th.

Arcutis Biotherapeutics Price Performance

ARQT stock opened at $20.88 on Friday. 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 1 year low of $8.03 and a 1 year high of $21.84. The firm has a market cap of $2.50 billion, a P/E ratio of -27.84 and a beta of 2.06. The stock has a 50-day simple moving average of $17.63 and a 200-day simple moving average of $15.37.

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

Insider Transactions at Arcutis Biotherapeutics

In other Arcutis Biotherapeutics news, Director Howard G. Welgus sold 10,000 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $15.64, for a total transaction of $156,400.00. Following the transaction, the director owned 100,206 shares of the company's stock, valued at $1,567,221.84. This trade represents a 9.07% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Todd Watanabe sold 24,261 shares of the stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $19.33, for a total value of $468,965.13. Following the transaction, the insider directly owned 867,179 shares in the company, valued at approximately $16,762,570.07. This represents a 2.72% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 154,386 shares of company stock worth $2,640,187. 9.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Silverleafe Capital Partners LLC lifted its holdings in shares of Arcutis Biotherapeutics by 14.7% in the 3rd quarter. Silverleafe Capital Partners LLC now owns 16,628 shares of the company's stock worth $313,000 after purchasing an additional 2,128 shares during the last quarter. CWM LLC lifted its holdings in shares of Arcutis Biotherapeutics by 61.4% in the 3rd quarter. CWM LLC now owns 18,117 shares of the company's stock worth $342,000 after purchasing an additional 6,894 shares during the last quarter. S.E.E.D. Planning Group LLC bought a new stake in shares of Arcutis Biotherapeutics in the 3rd quarter worth approximately $245,000. Perpetual Ltd lifted its holdings in shares of Arcutis Biotherapeutics by 7,534.3% in the 3rd quarter. Perpetual Ltd now owns 2,024,606 shares of the company's stock worth $38,164,000 after purchasing an additional 1,998,086 shares during the last quarter. Finally, Squarepoint Ops LLC lifted its holdings in shares of Arcutis Biotherapeutics by 169.2% in the 2nd quarter. Squarepoint Ops LLC now owns 167,814 shares of the company's stock worth $2,353,000 after purchasing an additional 105,487 shares during the last quarter.

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.

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