Arcutis Biotherapeutics (NASDAQ:ARQT) Given Sell (E+) Rating at Weiss Ratings

Key Points

• Arcutis Biotherapeutics has been given a "sell (e+)" rating by Weiss Ratings, highlighting a negative outlook on the company's stock.
• Despite the Sell rating from Weiss, several firms have recently issued a mix of upgrades and Buy ratings, with a consensus rating of "Moderate Buy" and an average price target of $19.80.
• The company's most recent earnings report showed a revenue of $81.50 million, surpassing estimates, and a reported loss per share of ($0.13), indicating a better-than-expected performance.

Arcutis Biotherapeutics (NASDAQ:ARQT - Get Free Report)'s stock had its "sell (e+)" rating reaffirmed by equities research analysts at Weiss Ratings in a research report issued on Tuesday,Weiss Ratings reports.

Several other research firms have also recently commented on ARQT. Wall Street Zen upgraded shares of Arcutis Biotherapeutics from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Cowen restated a "buy" rating on shares of Arcutis Biotherapeutics in a research report on Thursday, August 7th. The Goldman Sachs Group initiated coverage on Arcutis Biotherapeutics in a report on Friday, July 25th. They issued a "neutral" rating and a $18.00 price target for the company. Finally, Needham & Company LLC raised their price target on Arcutis Biotherapeutics from $20.00 to $22.00 and gave the company a "buy" rating in a report on Thursday, August 7th. Six research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Arcutis Biotherapeutics currently has a consensus rating of "Moderate Buy" and an average target price of $19.80.

Arcutis Biotherapeutics Stock Performance

Shares of NASDAQ ARQT traded down $0.35 during trading hours on Tuesday, reaching $20.38. The stock had a trading volume of 397,372 shares, compared to its average volume of 2,071,417. The firm has a market cap of $2.44 billion, a price-to-earnings ratio of -27.18 and a beta of 2.06. The company has a current ratio of 3.20, a quick ratio of 3.04 and a debt-to-equity ratio of 0.77. Arcutis Biotherapeutics has a fifty-two week low of $8.03 and a fifty-two week high of $21.56. The firm has a 50-day moving average of $17.15 and a 200-day moving average of $15.22.

Arcutis Biotherapeutics (NASDAQ:ARQT - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.18) by $0.05. Arcutis Biotherapeutics had a negative net margin of 35.40% and a negative return on equity of 62.62%. The business had revenue of $81.50 million during the quarter, compared to the consensus estimate of $72.70 million. Equities research analysts predict that Arcutis Biotherapeutics will post -1.33 earnings per share for the current year.

Insider Transactions at Arcutis Biotherapeutics

In related news, insider Masaru Matsuda sold 36,130 shares of Arcutis Biotherapeutics stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $16.16, for a total transaction of $583,860.80. Following the completion of the transaction, the insider directly owned 161,234 shares in the company, valued at $2,605,541.44. The trade was a 18.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Howard G. Welgus sold 10,000 shares of the business's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $15.64, for a total transaction of $156,400.00. Following the completion of the transaction, the director directly owned 100,206 shares of the company's stock, valued at $1,567,221.84. The trade was a 9.07% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 154,386 shares of company stock valued at $2,640,187. Company insiders own 9.40% of the company's stock.

Hedge Funds Weigh In On Arcutis Biotherapeutics

A number of institutional investors have recently modified their holdings of the company. S.E.E.D. Planning Group LLC acquired a new position in shares of Arcutis Biotherapeutics in the third quarter valued at approximately $245,000. Perpetual Ltd raised its holdings in Arcutis Biotherapeutics by 7,534.3% in the 3rd quarter. Perpetual Ltd now owns 2,024,606 shares of the company's stock valued at $38,164,000 after acquiring an additional 1,998,086 shares during the last quarter. Squarepoint Ops LLC raised its holdings in Arcutis Biotherapeutics by 169.2% in the 2nd quarter. Squarepoint Ops LLC now owns 167,814 shares of the company's stock valued at $2,353,000 after acquiring an additional 105,487 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its stake in Arcutis Biotherapeutics by 101.5% in the second quarter. CANADA LIFE ASSURANCE Co now owns 25,829 shares of the company's stock valued at $363,000 after purchasing an additional 13,013 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its stake in Arcutis Biotherapeutics by 278.6% in the second quarter. Tower Research Capital LLC TRC now owns 12,414 shares of the company's stock valued at $174,000 after purchasing an additional 9,135 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.

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