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

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT - Get Free Report) has been given an average recommendation of "Moderate Buy" by the six ratings firms that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $18.80.

ARQT has been the subject of several analyst reports. Guggenheim reissued a "buy" rating on shares of Arcutis Biotherapeutics in a research report on Thursday, April 3rd. HC Wainwright reiterated a "buy" rating and issued a $19.00 price target on shares of Arcutis Biotherapeutics in a research note on Thursday, April 3rd. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $20.00 price target on shares of Arcutis Biotherapeutics in a research note on Friday, May 23rd.

Insider Buying and Selling

In other Arcutis Biotherapeutics news, insider Masaru Matsuda sold 5,030 shares of Arcutis Biotherapeutics stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $15.20, for a total transaction of $76,456.00. Following the transaction, the insider owned 204,399 shares of the company's stock, valued at $3,106,864.80. The trade was a 2.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Larry Todd Edwards sold 7,451 shares of Arcutis Biotherapeutics stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $14.07, for a total transaction of $104,835.57. Following the transaction, the insider directly owned 183,104 shares in the company, valued at $2,576,273.28. This represents a 3.91% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have bought 7,434 shares of company stock valued at $99,277 and have sold 28,291 shares valued at $394,261. 9.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Arcutis Biotherapeutics

Several large investors have recently added to or reduced their stakes in the company. GF Fund Management CO. LTD. purchased a new position in shares of Arcutis Biotherapeutics in the fourth quarter worth $34,000. Amalgamated Bank increased its position in Arcutis Biotherapeutics by 39.4% in the first quarter. Amalgamated Bank now owns 3,723 shares of the company's stock worth $58,000 after purchasing an additional 1,053 shares during the last quarter. KBC Group NV bought a new stake in Arcutis Biotherapeutics in the first quarter worth $84,000. Nkcfo LLC bought a new stake in Arcutis Biotherapeutics in the first quarter worth $109,000. Finally, Allostery Investments LP bought a new stake in Arcutis Biotherapeutics in the first quarter worth $117,000.

Arcutis Biotherapeutics Price Performance

Shares of NASDAQ:ARQT traded down $0.26 during trading on Thursday, reaching $15.01. The company had a trading volume of 1,429,100 shares, compared to its average volume of 2,157,379. The company has a fifty day moving average of $13.91 and a two-hundred day moving average of $14.03. The stock has a market capitalization of $1.79 billion, a P/E ratio of -14.43 and a beta of 1.77. Arcutis Biotherapeutics has a 12 month low of $7.86 and a 12 month high of $17.75. The company has a current ratio of 3.55, a quick ratio of 3.37 and a debt-to-equity ratio of 0.75.

Arcutis Biotherapeutics (NASDAQ:ARQT - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported ($0.20) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.21) by $0.01. Arcutis Biotherapeutics had a negative net margin of 60.95% and a negative return on equity of 80.66%. The company had revenue of $65.85 million during the quarter, compared to analysts' expectations of $64.80 million. Equities research analysts forecast that Arcutis Biotherapeutics will post -1.33 earnings per share for the current 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.