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

Key Points

• Arcutis Biotherapeutics has received an average analyst recommendation of "Moderate Buy", with six out of seven analysts issuing buy ratings and an average 12-month price target of $19.80.
• Insider sales included 11,547 shares sold by Todd Watanabe at an average price of $14.33, and 36,130 shares sold by Masaru Matsuda at an average price of $16.16, reflecting significant decreases in their positions.
• The company reported positive quarterly earnings with revenue of $81.50 million, surpassing the consensus estimate of $72.70 million and achieving earnings per share of ($0.13), ahead of the expected ($0.18).

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT - Get Free Report) has earned an average recommendation of "Moderate Buy" from the seven ratings firms that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $19.80.

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

Insider Buying and Selling

In related news, insider Todd Watanabe sold 11,547 shares of the business's stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $14.33, for a total value of $165,468.51. Following the completion of the sale, the insider directly owned 901,569 shares in the company, valued at approximately $12,919,483.77. The trade was a 1.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Masaru Matsuda sold 36,130 shares of the company's stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $16.16, for a total value of $583,860.80. Following the sale, the insider directly owned 161,234 shares of the company's stock, valued at $2,605,541.44. The trade was a 18.31% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 123,632 shares of company stock valued at $1,908,955 in the last three months. 9.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Arcutis Biotherapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the company. Frazier Life Sciences Management L.P. boosted its holdings in shares of Arcutis Biotherapeutics by 12.4% during the 2nd quarter. Frazier Life Sciences Management L.P. now owns 9,874,511 shares of the company's stock worth $138,441,000 after buying an additional 1,089,227 shares during the period. Vanguard Group Inc. lifted its position in Arcutis Biotherapeutics by 5.9% during the 1st quarter. Vanguard Group Inc. now owns 6,818,078 shares of the company's stock worth $106,635,000 after acquiring an additional 377,363 shares during the last quarter. State Street Corp boosted its holdings in Arcutis Biotherapeutics by 1.2% during the second quarter. State Street Corp now owns 4,526,937 shares of the company's stock valued at $63,468,000 after acquiring an additional 52,734 shares during the period. Gilder Gagnon Howe & Co. LLC grew its position in shares of Arcutis Biotherapeutics by 1.5% in the second quarter. Gilder Gagnon Howe & Co. LLC now owns 4,155,763 shares of the company's stock valued at $58,264,000 after purchasing an additional 59,712 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Arcutis Biotherapeutics by 1.4% in the second quarter. Geode Capital Management LLC now owns 2,582,567 shares of the company's stock worth $36,213,000 after purchasing an additional 35,620 shares during the period.

Arcutis Biotherapeutics Stock Performance

Shares of Arcutis Biotherapeutics stock opened at $17.38 on Tuesday. Arcutis Biotherapeutics has a 12 month low of $8.03 and a 12 month high of $18.15. The company has a quick ratio of 3.04, a current ratio of 3.20 and a debt-to-equity ratio of 0.77. The stock has a market cap of $2.08 billion, a PE ratio of -23.17 and a beta of 1.93. The business has a fifty day simple moving average of $15.79 and a 200-day simple moving average of $14.86.

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

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