Arcutis Biotherapeutics (NASDAQ:ARQT) Stock Price Up 4.1% - Should You Buy?

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT - Get Free Report) rose 4.1% during trading on Monday . The stock traded as high as $13.32 and last traded at $13.54. Approximately 167,754 shares were traded during mid-day trading, a decline of 93% from the average daily volume of 2,383,920 shares. The stock had previously closed at $13.01.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on ARQT shares. HC Wainwright restated a "buy" rating and issued a $19.00 price target on shares of Arcutis Biotherapeutics in a report on Thursday, April 3rd. Guggenheim reaffirmed a "buy" rating on shares of Arcutis Biotherapeutics in a research note on Thursday, April 3rd. Mizuho boosted their price objective on shares of Arcutis Biotherapeutics from $20.00 to $21.00 and gave the stock an "outperform" rating in a report on Wednesday, February 26th. Needham & Company LLC restated a "buy" rating and set a $20.00 target price on shares of Arcutis Biotherapeutics in a research note on Wednesday, April 9th. Finally, The Goldman Sachs Group boosted their price target on Arcutis Biotherapeutics from $13.00 to $15.00 and gave the stock a "neutral" rating in a research note on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, Arcutis Biotherapeutics currently has a consensus rating of "Moderate Buy" and a consensus target price of $18.80.

Arcutis Biotherapeutics Trading Down 0.7 %

The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.38 and a current ratio of 2.46. The business's 50 day moving average price is $14.48 and its 200-day moving average price is $12.87. The firm has a market cap of $1.73 billion, a price-to-earnings ratio of -8.16 and a beta of 1.67.

Arcutis Biotherapeutics (NASDAQ:ARQT - Get Free Report) last announced its quarterly earnings data on Tuesday, February 25th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analysts' expectations of $60.52 million. Equities analysts expect that Arcutis Biotherapeutics, Inc. will post -1.33 EPS for the current year.

Insider Buying and Selling at Arcutis Biotherapeutics

In related news, insider Todd Franklin Watanabe sold 1,500 shares of the firm's stock in a transaction that occurred 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 sale, the insider now owns 927,414 shares of the company's stock, valued at approximately $16,248,293.28. This trade represents a 0.16 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Howard G. Welgus sold 10,000 shares of the business's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $12.71, for a total value of $127,100.00. Following the transaction, the director now owns 141,944 shares of the company's stock, valued at $1,804,108.24. This represents a 6.58 % 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 90 days. Insiders own 9.50% of the company's stock.

Institutional Investors Weigh In On Arcutis Biotherapeutics

A number of hedge funds have recently made changes to their positions in ARQT. Point72 Asset Management L.P. increased its position in Arcutis Biotherapeutics by 617.5% in the 4th quarter. Point72 Asset Management L.P. now owns 1,753,522 shares of the company's stock valued at $24,427,000 after acquiring an additional 1,509,136 shares during the period. Cercano Management LLC bought a new position in Arcutis Biotherapeutics in the 4th quarter valued at about $17,487,000. Millennium Management LLC increased its stake in Arcutis Biotherapeutics by 101.3% during the 4th quarter. Millennium Management LLC now owns 2,310,163 shares of the company's stock valued at $32,181,000 after buying an additional 1,162,690 shares during the period. Driehaus Capital Management LLC acquired a new stake in shares of Arcutis Biotherapeutics in the 4th quarter worth approximately $15,278,000. Finally, D. E. Shaw & Co. Inc. raised its holdings in Arcutis Biotherapeutics by 44.0% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 2,513,577 shares of the company's stock worth $35,014,000 after purchasing an additional 768,553 shares in the last quarter.

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.