Arcutis Biotherapeutics (NASDAQ:ARQT) Hits New 52-Week High - What's Next?

Key Points

• Arcutis Biotherapeutics hit a new 52-week high at $18.92, with the stock last traded at $18.47 and a volume of 776,994 shares.
• Analysts have given a consensus price target of $19.80 for the stock, with six analysts rating it as a Buy and one as Hold.
• The company reported revenue of $81.5 million for the last quarter, exceeding expectations, while posting an EPS of $(-0.13), beating consensus estimates by $0.05.

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT - Get Free Report) hit a new 52-week high on Monday . The company traded as high as $18.92 and last traded at $18.47, with a volume of 776994 shares. The stock had previously closed at $17.57.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Needham & Company LLC boosted their target price on shares of Arcutis Biotherapeutics from $20.00 to $22.00 and gave the stock a "buy" rating in a research note on Thursday, August 7th. Cowen reissued a "buy" rating on shares of Arcutis Biotherapeutics in a research note on Thursday, August 7th. Wall Street Zen raised shares of Arcutis Biotherapeutics from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Finally, The Goldman Sachs Group started coverage on shares of Arcutis Biotherapeutics in a report on Friday, July 25th. They issued a "neutral" rating and a $18.00 price target for the company. Six investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Arcutis Biotherapeutics has an average rating of "Moderate Buy" and a consensus price target of $19.80.

Arcutis Biotherapeutics Trading Up 6.9%

The stock has a market capitalization of $2.25 billion, a P/E ratio of -25.05 and a beta of 1.93. The company has a debt-to-equity ratio of 0.77, a quick ratio of 3.04 and a current ratio of 3.20. The firm's fifty day simple moving average is $15.95 and its 200 day simple moving average is $14.93.

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

Insider Activity

In related news, insider Todd Watanabe sold 9,625 shares of the company's stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $17.54, for a total value of $168,822.50. Following the transaction, the insider directly owned 891,944 shares in the company, valued at approximately $15,644,697.76. This represents a 1.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Patrick Burnett sold 2,438 shares of the stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $15.57, for a total transaction of $37,959.66. Following the transaction, the insider owned 104,811 shares in the company, valued at $1,631,907.27. The trade was a 2.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 123,632 shares of company stock worth $1,908,955. 9.40% of the stock is owned by insiders.

Institutional Trading of Arcutis Biotherapeutics

A number of institutional investors have recently made changes to their positions in ARQT. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Arcutis Biotherapeutics by 1.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 280,100 shares of the company's stock valued at $3,902,000 after buying an additional 3,409 shares during the period. Wealth Enhancement Advisory Services LLC bought a new stake in Arcutis Biotherapeutics in the 4th quarter worth about $291,000. GAMMA Investing LLC increased its holdings in Arcutis Biotherapeutics by 1,261.0% in the 1st quarter. GAMMA Investing LLC now owns 15,515 shares of the company's stock worth $2,430,000 after buying an additional 14,375 shares in the last quarter. Rhumbline Advisers grew its stake in shares of Arcutis Biotherapeutics by 7.7% during the 1st quarter. Rhumbline Advisers now owns 181,074 shares of the company's stock valued at $2,832,000 after purchasing an additional 13,022 shares during the period. Finally, LVW Advisors LLC grew its stake in shares of Arcutis Biotherapeutics by 21.2% during the 1st quarter. LVW Advisors LLC now owns 14,466 shares of the company's stock valued at $226,000 after purchasing an additional 2,530 shares during the period.

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.

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