Guggenheim Reiterates "Buy" Rating for Arcutis Biotherapeutics (NASDAQ:ARQT)

Guggenheim restated their buy rating on shares of Arcutis Biotherapeutics (NASDAQ:ARQT - Free Report) in a report released on Thursday morning,Benzinga reports.

Several other research analysts have also recently weighed in on ARQT. The Goldman Sachs Group boosted their price target on shares of Arcutis Biotherapeutics from $13.00 to $15.00 and gave the stock a "neutral" rating in a report on Thursday, February 27th. Needham & Company LLC restated a "buy" rating and issued a $20.00 target price on shares of Arcutis Biotherapeutics in a research note on Thursday, April 3rd. Jefferies Financial Group increased their price target on shares of Arcutis Biotherapeutics from $16.00 to $19.00 and gave the company a "buy" rating in a research report on Tuesday, March 11th. Mizuho lifted their price objective on shares of Arcutis Biotherapeutics from $20.00 to $21.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 26th. Finally, HC Wainwright reissued a "buy" rating and set a $19.00 target price on shares of Arcutis Biotherapeutics in a research report on Thursday, April 3rd. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $18.80.

Arcutis Biotherapeutics Stock Down 6.2 %

Shares of ARQT stock traded down $0.89 during trading hours on Thursday, reaching $13.41. The company had a trading volume of 1,094,947 shares, compared to its average volume of 2,413,031. The company has a market cap of $1.59 billion, a price-to-earnings ratio of -7.54 and a beta of 1.67. 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. The business has a fifty day simple moving average of $14.21 and a 200-day simple moving average of $12.47.

Arcutis Biotherapeutics (NASDAQ:ARQT - Get Free Report) last released its quarterly earnings results on Tuesday, February 25th. The company reported ($0.09) EPS for the quarter, beating analysts' consensus estimates of ($0.28) by $0.19. The business had revenue of $71.36 million during the quarter, compared to analyst estimates of $60.52 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 earnings per share for the current fiscal year.

Insider Activity at Arcutis Biotherapeutics

In other news, insider Todd Franklin Watanabe sold 1,500 shares of the firm's stock in a transaction 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 transaction, the insider now directly owns 927,414 shares of the company's stock, valued at $16,248,293.28. This trade represents a 0.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Patrick Burnett sold 12,242 shares of Arcutis Biotherapeutics stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $15.04, for a total value of $184,119.68. Following the transaction, the insider now directly owns 121,936 shares of the company's stock, valued at $1,833,917.44. The trade was a 9.12 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 46,099 shares of company stock worth $631,256. Company insiders own 9.50% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. GF Fund Management CO. LTD. purchased a new stake in shares of Arcutis Biotherapeutics in the fourth quarter worth $34,000. Point72 DIFC Ltd bought a new position in Arcutis Biotherapeutics in the 3rd quarter worth about $25,000. Venturi Wealth Management LLC purchased a new stake in shares of Arcutis Biotherapeutics in the 4th quarter valued at about $46,000. Cibc World Markets Corp bought a new stake in shares of Arcutis Biotherapeutics during the 4th quarter valued at about $140,000. Finally, Erste Asset Management GmbH bought a new stake in shares of Arcutis Biotherapeutics during the 3rd quarter valued at about $104,000.

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.