Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Stock Rated "Moderate Buy" by Wall Street Brokerages

Key Points

• Arcutis Biotherapeutics has a “Moderate Buy” consensus rating from nine analysts, with six buys and three holds. The average 12-month price target is $35.57, above the reported share price of $25.16.
• Several analysts recently raised their price targets, including Needham to $40, Morgan Stanley to $38, and Guggenheim to $38. The company also exceeded quarterly expectations, reporting $0.11 in EPS and $129.86 million in revenue.
• Insiders sold 79,225 shares worth approximately $2.02 million over the past three months, while institutional investors made several new purchases or increased their positions. Insiders retain a 9.40% ownership stake.

Shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT - Get Free Report) have earned an average rating of "Moderate Buy" from the nine brokerages that are currently covering the stock, MarketBeat reports. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $35.57.

Several analysts recently weighed in on the company. Morgan Stanley upped their price objective on Arcutis Biotherapeutics from $34.00 to $38.00 and gave the stock an "overweight" rating in a research report on Thursday, August 6th. Guggenheim lifted their target price on Arcutis Biotherapeutics from $35.00 to $38.00 and gave the company a "buy" rating in a research report on Thursday, August 6th. Needham & Company LLC boosted their target price on Arcutis Biotherapeutics from $36.00 to $40.00 and gave the stock a "buy" rating in a research note on Thursday, August 6th. Wall Street Zen raised shares of Arcutis Biotherapeutics from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 8th. Finally, Weiss Ratings upgraded shares of Arcutis Biotherapeutics from a "hold (c-)" rating to a "hold (c)" rating in a research note on Thursday, September 24th.

Insider Transactions at Arcutis Biotherapeutics

In other Arcutis Biotherapeutics news, insider Todd Watanabe sold 4,375 shares of the business's stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $26.12, for a total transaction of $114,275.00. Following the sale, the insider owned 717,203 shares of the company's stock, valued at approximately $18,733,342.36. The trade was a 0.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Masaru Matsuda sold 3,674 shares of the company's stock in a transaction on Wednesday, September 16th. The stock was sold at an average price of $25.00, for a total transaction of $91,850.00. Following the transaction, the insider owned 112,508 shares of the company's stock, valued at $2,812,700. This trade represents a 3.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 79,225 shares of company stock valued at $2,015,966. Corporate insiders own 9.40% of the company's stock.

Institutional Investors Weigh In On Arcutis Biotherapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. EverSource Wealth Advisors LLC raised its position in Arcutis Biotherapeutics by 124.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,261 shares of the company's stock valued at $37,000 after purchasing an additional 698 shares during the last quarter. Nykredit A S bought a new stake in shares of Arcutis Biotherapeutics during the second quarter worth about $63,000. Integrated Wealth Concepts LLC acquired a new position in shares of Arcutis Biotherapeutics in the second quarter valued at approximately $84,000. KBC Group NV raised its holdings in Arcutis Biotherapeutics by 43.2% in the 1st quarter. KBC Group NV now owns 4,376 shares of the company's stock valued at $103,000 after buying an additional 1,321 shares during the last quarter. Finally, Independent Financial Group LLC acquired a new stake in Arcutis Biotherapeutics during the 1st quarter worth approximately $210,000.

Arcutis Biotherapeutics Stock Performance

NASDAQ ARQT opened at $25.16 on Friday. The firm's 50 day simple moving average is $25.62 and its 200 day simple moving average is $24.55. The firm has a market capitalization of $3.16 billion, a price-to-earnings ratio of 119.82 and a beta of 1.57. The company has a current ratio of 2.92, a quick ratio of 2.67 and a debt-to-equity ratio of 0.46. Arcutis Biotherapeutics has a 1 year low of $19.30 and a 1 year high of $31.77.

Arcutis Biotherapeutics (NASDAQ:ARQT - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.06 by $0.05. The business had revenue of $129.86 million during the quarter, compared to the consensus estimate of $118.85 million. Arcutis Biotherapeutics had a net margin of 6.15% and a return on equity of 15.05%. As a group, research analysts expect that Arcutis Biotherapeutics will post 0.42 earnings per share for the current fiscal year.

About Arcutis Biotherapeutics

Arcutis Biotherapeutics, Inc NASDAQ: ARQT is a biopharmaceutical company focused on developing and commercializing treatments for dermatologic conditions. The company concentrates on medical dermatology, with an emphasis on addressing diseases that can significantly affect patients' quality of life and for which additional treatment options are needed.

Arcutis's primary commercial product is ZORYVE (roflumilast), a topical phosphodiesterase-4 inhibitor available in multiple formulations.

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