Arcutis Biotherapeutics' (ARQT) Buy Rating Reiterated at Needham & Company LLC

Arcutis Biotherapeutics (NASDAQ:ARQT - Get Free Report)'s stock had its "buy" rating restated by research analysts at Needham & Company LLC in a research report issued to clients and investors on Thursday,Benzinga reports. They currently have a $20.00 target price on the stock. Needham & Company LLC's price target would indicate a potential upside of 47.00% from the stock's previous close.

A number of other research analysts have also recently commented on ARQT. Mizuho increased their price target on shares of Arcutis Biotherapeutics from $20.00 to $21.00 and gave the company an "outperform" rating in a research report on Wednesday, February 26th. HC Wainwright reiterated a "buy" rating and issued a $19.00 price objective on shares of Arcutis Biotherapeutics in a research report on Thursday, April 3rd. The Goldman Sachs Group raised their target price 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. Guggenheim reiterated a "buy" rating on shares of Arcutis Biotherapeutics in a report on Monday, February 24th. Finally, Jefferies Financial Group raised their price target on shares of Arcutis Biotherapeutics from $16.00 to $19.00 and gave the stock a "buy" rating in a report on Tuesday, March 11th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $18.80.

Arcutis Biotherapeutics Price Performance

Shares of Arcutis Biotherapeutics stock traded down $0.70 on Thursday, hitting $13.61. 981,766 shares of the company traded hands, compared to its average volume of 2,412,479. Arcutis Biotherapeutics has a 12-month low of $6.99 and a 12-month high of $17.75. The company has a current ratio of 2.46, a quick ratio of 2.38 and a debt-to-equity ratio of 0.67. The company has a market cap of $1.61 billion, a P/E ratio of -7.58 and a beta of 1.67. The firm's 50-day simple moving average is $14.21 and its 200 day simple moving average is $12.47.

Arcutis Biotherapeutics (NASDAQ:ARQT - Get Free Report) last issued its quarterly earnings results on Tuesday, February 25th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.28) by $0.19. Arcutis Biotherapeutics had a negative return on equity of 119.11% and a negative net margin of 140.97%. The firm had revenue of $71.36 million during the quarter, compared to analyst estimates of $60.52 million. 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 Masaru Matsuda sold 8,338 shares of the firm's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $12.70, for a total value of $105,892.60. Following the completion of the sale, the insider now directly owns 178,692 shares of the company's stock, valued at approximately $2,269,388.40. This trade represents a 4.46 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Todd Franklin Watanabe sold 1,500 shares of Arcutis Biotherapeutics stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $17.52, for a total transaction of $26,280.00. Following the sale, the insider now directly owns 927,414 shares in the company, valued at $16,248,293.28. The trade was a 0.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 46,099 shares of company stock worth $631,256 over the last quarter. 9.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Summit Investment Advisors Inc. grew its stake in Arcutis Biotherapeutics by 8.0% in the fourth quarter. Summit Investment Advisors Inc. now owns 11,245 shares of the company's stock worth $157,000 after purchasing an additional 837 shares during the period. China Universal Asset Management Co. Ltd. boosted its holdings in shares of Arcutis Biotherapeutics by 10.4% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 24,818 shares of the company's stock valued at $346,000 after buying an additional 2,336 shares in the last quarter. GF Fund Management CO. LTD. purchased a new stake in shares of Arcutis Biotherapeutics in the 4th quarter worth about $34,000. Point72 DIFC Ltd purchased a new stake in shares of Arcutis Biotherapeutics in the 3rd quarter worth about $25,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Arcutis Biotherapeutics by 1.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 276,691 shares of the company's stock worth $2,573,000 after acquiring an additional 2,912 shares in 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.