Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT - Get Free Report)'s stock price rose 8.9% during mid-day trading on Wednesday . The company traded as high as $9.10 and last traded at $9.06. Approximately 853,130 shares were traded during mid-day trading, a decline of 81% from the average daily volume of 4,488,075 shares. The stock had previously closed at $8.32.
Analysts Set New Price Targets
ARQT has been the topic of a number of recent analyst reports. The Goldman Sachs Group boosted their price objective on Arcutis Biotherapeutics from $6.00 to $11.00 and gave the company a "neutral" rating in a research note on Wednesday, February 28th. Mizuho reaffirmed a "buy" rating and set a $16.00 price target (up from $8.00) on shares of Arcutis Biotherapeutics in a research note on Friday, February 23rd. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $16.00 price target on shares of Arcutis Biotherapeutics in a research note on Friday, April 12th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $26.56.
Get Our Latest Stock Report on Arcutis Biotherapeutics
Arcutis Biotherapeutics Trading Up 6.2 %
The company has a debt-to-equity ratio of 2.28, a quick ratio of 6.80 and a current ratio of 7.08. The business has a 50 day moving average of $10.12 and a two-hundred day moving average of $5.88. The firm has a market capitalization of $1.02 billion, a price-to-earnings ratio of -2.26 and a beta of 1.14.
Arcutis Biotherapeutics (NASDAQ:ARQT - Get Free Report) last issued its quarterly earnings data on Tuesday, February 27th. The company reported ($0.72) EPS for the quarter, missing analysts' consensus estimates of ($0.64) by ($0.08). The company had revenue of $13.53 million for the quarter, compared to the consensus estimate of $11.78 million. Arcutis Biotherapeutics had a negative return on equity of 294.85% and a negative net margin of 439.79%. During the same period in the prior year, the firm posted ($1.18) earnings per share. Equities analysts predict that Arcutis Biotherapeutics, Inc. will post -2.21 EPS for the current year.
Insiders Place Their Bets
In other Arcutis Biotherapeutics news, insider Masaru Matsuda sold 3,760 shares of the business's stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $11.12, for a total transaction of $41,811.20. Following the completion of the sale, the insider now directly owns 190,424 shares of the company's stock, valued at approximately $2,117,514.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 20.70% of the company's stock.
Hedge Funds Weigh In On Arcutis Biotherapeutics
Several institutional investors have recently modified their holdings of the business. Cape Investment Advisory Inc. bought a new position in Arcutis Biotherapeutics during the fourth quarter valued at $26,000. Cantor Fitzgerald L. P. bought a new position in Arcutis Biotherapeutics during the fourth quarter valued at $33,000. Victory Capital Management Inc. bought a new position in Arcutis Biotherapeutics during the fourth quarter valued at $34,000. China Universal Asset Management Co. Ltd. grew its holdings in Arcutis Biotherapeutics by 586.8% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 10,920 shares of the company's stock valued at $35,000 after purchasing an additional 9,330 shares during the period. Finally, Amalgamated Bank grew its holdings in Arcutis Biotherapeutics by 48.9% during the fourth quarter. Amalgamated Bank now owns 11,078 shares of the company's stock valued at $36,000 after purchasing an additional 3,639 shares during the period.
About Arcutis Biotherapeutics
(
Get Free Report)
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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