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

Key Points

• Analyst sentiment is moderately bullish: Six of nine analysts rate Arcutis Biotherapeutics a buy and three recommend holding the stock, with an average 12-month price target of $35.57 versus a recent price of $25.83.
• Several firms recently raised their price targets, including Guggenheim and Morgan Stanley to $38 and Needham to $40, while Wall Street Zen upgraded the stock to “strong buy.”
• Arcutis exceeded quarterly expectations, reporting earnings of $0.11 per share versus $0.06 expected and revenue of $129.86 million versus $118.85 million; insiders have sold $803,066 worth of shares over the past 90 days.

Shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT - Get Free Report) have been given an average recommendation of "Moderate Buy" by the nine analysts that are covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $35.5714.

ARQT has been the topic of a number of research analyst reports. Weiss Ratings raised shares of Arcutis Biotherapeutics from a "sell (d-)" rating to a "hold (c-)" rating in a research report on Thursday, August 6th. Guggenheim boosted their price objective on Arcutis Biotherapeutics from $35.00 to $38.00 and gave the company a "buy" rating in a research note on Thursday, August 6th. Morgan Stanley upped their target price on Arcutis Biotherapeutics from $34.00 to $38.00 and gave the company an "overweight" rating in a research report on Thursday, August 6th. Needham & Company LLC raised their target price on Arcutis Biotherapeutics from $36.00 to $40.00 and gave the stock a "buy" rating in a research note on Thursday, August 6th. Finally, Wall Street Zen raised Arcutis Biotherapeutics from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 8th.

Arcutis Biotherapeutics Stock Performance

Arcutis Biotherapeutics stock opened at $25.83 on Friday. The business has a 50 day moving average of $26.42 and a 200-day moving average of $24.68. The company has a market capitalization of $3.25 billion, a P/E ratio of 123.01 and a beta of 1.49. Arcutis Biotherapeutics has a 1 year low of $15.10 and a 1 year high of $31.77. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.92 and a quick ratio of 2.67.

Arcutis Biotherapeutics (NASDAQ:ARQT - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.11 earnings per share for the quarter, beating analysts' consensus estimates of $0.06 by $0.05. The business had revenue of $129.86 million during the quarter, compared to the consensus estimate of $118.85 million. Arcutis Biotherapeutics had a return on equity of 15.05% and a net margin of 6.15%. On average, equities research analysts predict that Arcutis Biotherapeutics will post 0.4 earnings per share for the current year.

Insider Transactions at Arcutis Biotherapeutics

In related news, insider Todd Watanabe sold 4,375 shares of Arcutis Biotherapeutics stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $26.12, for a total value of $114,275.00. Following the completion of the sale, the insider owned 717,203 shares of the company's stock, valued at approximately $18,733,342.36. This trade represents a 0.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Patrick Burnett sold 6,700 shares of Arcutis Biotherapeutics stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $26.08, for a total transaction of $174,736.00. Following the transaction, the insider owned 119,289 shares of the company's stock, valued at $3,111,057.12. This represents a 5.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 31,237 shares of company stock valued at $803,066. Company insiders own 9.40% of the company's stock.

Hedge Funds Weigh In On Arcutis Biotherapeutics

Several institutional investors have recently modified their holdings of ARQT. Commerce Bank bought a new stake in shares of Arcutis Biotherapeutics in the 2nd quarter worth approximately $431,000. TrinityBridge Ltd bought a new position in Arcutis Biotherapeutics during the second quarter valued at $498,000. Tejara Capital Ltd purchased a new stake in Arcutis Biotherapeutics in the second quarter worth $2,965,000. E Fund Management Co. Ltd. purchased a new stake in Arcutis Biotherapeutics in the second quarter worth $299,000. Finally, Citizens Financial Group Inc. RI bought a new stake in shares of Arcutis Biotherapeutics in the second quarter valued at $922,000.

About Arcutis Biotherapeutics

Arcutis Biotherapeutics is a clinical-stage biopharmaceutical company focused on developing and commercializing innovative therapies for immuno-inflammatory skin diseases. The company's research and development efforts center on targeted treatments that address the underlying biology of conditions such as plaque psoriasis, atopic dermatitis, seborrheic dermatitis and vitiligo. Arcutis employs a precision-medicine approach to deliver topical therapies designed to improve efficacy and tolerability compared with existing treatment options.

In August 2022, Arcutis received U.S.

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