BNP Paribas Financial Markets Acquires New Holdings in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT)

BNP Paribas Financial Markets bought a new stake in shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 79,815 shares of the company's stock, valued at approximately $1,112,000. BNP Paribas Financial Markets owned 0.07% of Arcutis Biotherapeutics as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in ARQT. Venturi Wealth Management LLC bought a new stake in shares of Arcutis Biotherapeutics in the 4th quarter worth approximately $46,000. Cibc World Markets Corp bought a new stake in shares of Arcutis Biotherapeutics in the 4th quarter worth approximately $140,000. Summit Investment Advisors Inc. lifted its position in shares of Arcutis Biotherapeutics by 8.0% in the 4th quarter. Summit Investment Advisors Inc. now owns 11,245 shares of the company's stock worth $157,000 after acquiring an additional 837 shares during the period. LVW Advisors LLC bought a new stake in shares of Arcutis Biotherapeutics in the 4th quarter worth approximately $166,000. Finally, Syon Capital LLC bought a new stake in shares of Arcutis Biotherapeutics in the 4th quarter worth approximately $189,000.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ARQT. Mizuho raised their target price on Arcutis Biotherapeutics from $20.00 to $21.00 and gave the stock an "outperform" rating in a research 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 report on Friday. Jefferies Financial Group raised their target price on Arcutis Biotherapeutics from $16.00 to $19.00 and gave the stock a "buy" rating in a research report on Tuesday, March 11th. HC Wainwright restated a "buy" rating and set a $19.00 target price on shares of Arcutis Biotherapeutics in a research report on Thursday, April 3rd. Finally, The Goldman Sachs Group raised their target price on Arcutis Biotherapeutics from $13.00 to $15.00 and gave the stock a "neutral" rating in a research report on Thursday, February 27th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $18.80.

Insider Buying and Selling

In other news, insider Masaru Matsuda sold 5,030 shares of the business's stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $15.20, for a total transaction of $76,456.00. Following the completion of the transaction, the insider now directly owns 204,399 shares in the company, valued at approximately $3,106,864.80. The trade was a 2.40% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Todd Franklin Watanabe sold 1,500 shares of the business's stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $17.52, for a total value of $26,280.00. Following the transaction, the insider now owns 927,414 shares of the company's stock, valued at $16,248,293.28. The trade was a 0.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 44,113 shares of company stock worth $632,162 over the last three months. 9.40% of the stock is currently owned by company insiders.

Arcutis Biotherapeutics Price Performance

Shares of ARQT stock traded up $0.32 during trading hours on Monday, hitting $13.98. 1,646,092 shares of the company's stock were exchanged, compared to its average volume of 2,294,170. The stock's 50-day moving average is $14.51 and its 200-day moving average is $13.65. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.46 and a quick ratio of 2.38. Arcutis Biotherapeutics, Inc. has a 52 week low of $6.99 and a 52 week high of $17.75. The stock has a market cap of $1.67 billion, a price-to-earnings ratio of -7.81 and a beta of 1.87.

Arcutis Biotherapeutics (NASDAQ:ARQT - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported ($0.20) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.21) by $0.01. Arcutis Biotherapeutics had a negative return on equity of 119.11% and a negative net margin of 140.97%. The business had revenue of $65.85 million during the quarter, compared to analysts' expectations of $64.80 million. As a group, research analysts forecast that Arcutis Biotherapeutics, Inc. will post -1.33 EPS for the current year.

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.