Brokerages Set Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Target Price at $18.80

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT - Get Free Report) has earned an average rating of "Moderate Buy" from the six research firms that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $18.80.

Several equities analysts have recently weighed in on the company. Needham & Company LLC restated a "buy" rating and issued a $20.00 target price on shares of Arcutis Biotherapeutics in a research report on Friday. The Goldman Sachs Group raised their target price on Arcutis Biotherapeutics from $13.00 to $15.00 and gave the company a "neutral" rating in a research report on Thursday, February 27th. Guggenheim restated a "buy" rating on shares of Arcutis Biotherapeutics in a research report on Thursday, April 3rd. Jefferies Financial Group raised their target price on Arcutis Biotherapeutics from $16.00 to $19.00 and gave the company a "buy" rating in a research report on Tuesday, March 11th. Finally, Mizuho raised their target price on Arcutis Biotherapeutics from $20.00 to $21.00 and gave the company an "outperform" rating in a research report on Wednesday, February 26th.

Arcutis Biotherapeutics Price Performance

ARQT stock traded up $0.32 during mid-day trading on Wednesday, reaching $13.98. 1,646,092 shares of the company's stock were exchanged, compared to its average volume of 2,294,170. The company has a market cap of $1.67 billion, a price-to-earnings ratio of -7.81 and a beta of 1.87. The stock's 50 day moving average is $14.51 and its 200 day moving average is $13.65. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.46 and a quick ratio of 2.38. Arcutis Biotherapeutics has a 12-month low of $6.99 and a 12-month high of $17.75.

Arcutis Biotherapeutics (NASDAQ:ARQT - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported ($0.20) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.21) by $0.01. The company had revenue of $65.85 million for the quarter, compared to the consensus estimate of $64.80 million. Arcutis Biotherapeutics had a negative return on equity of 119.11% and a negative net margin of 140.97%. On average, research analysts expect that Arcutis Biotherapeutics will post -1.33 EPS for the current year.

Insider Activity at Arcutis Biotherapeutics

In related news, insider Todd Franklin Watanabe sold 1,500 shares of the stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $17.52, for a total value of $26,280.00. Following the completion of the sale, the insider now owns 927,414 shares of the company's stock, valued at approximately $16,248,293.28. This trade represents a 0.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Patrick Burnett sold 2,819 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $13.03, for a total value of $36,731.57. Following the completion of the sale, the insider now directly owns 167,043 shares of the company's stock, valued at approximately $2,176,570.29. This represents a 1.66% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 44,113 shares of company stock valued at $632,162. 9.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Arcutis Biotherapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Jennison Associates LLC increased its stake in Arcutis Biotherapeutics by 5.8% during the fourth quarter. Jennison Associates LLC now owns 12,339,792 shares of the company's stock worth $171,893,000 after acquiring an additional 676,295 shares during the last quarter. Suvretta Capital Management LLC increased its stake in Arcutis Biotherapeutics by 6.3% during the fourth quarter. Suvretta Capital Management LLC now owns 11,399,138 shares of the company's stock worth $158,790,000 after acquiring an additional 677,627 shares during the last quarter. Polar Capital Holdings Plc increased its stake in Arcutis Biotherapeutics by 7.2% during the fourth quarter. Polar Capital Holdings Plc now owns 7,377,381 shares of the company's stock worth $102,767,000 after acquiring an additional 493,009 shares during the last quarter. Vanguard Group Inc. increased its stake in Arcutis Biotherapeutics by 5.9% during the first 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. Finally, Gilder Gagnon Howe & Co. LLC increased its stake in Arcutis Biotherapeutics by 9.8% during the fourth quarter. Gilder Gagnon Howe & Co. LLC now owns 3,902,991 shares of the company's stock worth $54,369,000 after acquiring an additional 349,153 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.