Shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT - Get Free Report) traded up 5.4% during trading on Friday . The stock traded as high as $8.50 and last traded at $8.45. 388,649 shares were traded during trading, a decline of 91% from the average session volume of 4,327,991 shares. The stock had previously closed at $8.02.
Wall Street Analysts Forecast Growth
Several research analysts have weighed in on the stock. Needham & Company LLC reissued a "buy" rating and issued a $16.00 price target on shares of Arcutis Biotherapeutics in a report on Friday, April 12th. Mizuho reissued a "buy" rating and issued a $16.00 target price (up previously from $8.00) on shares of Arcutis Biotherapeutics in a research report on Friday, February 23rd. Finally, The Goldman Sachs Group raised their price target on shares of Arcutis Biotherapeutics from $6.00 to $11.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 28th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $26.56.
Read Our Latest Stock Report on ARQT
Arcutis Biotherapeutics Price Performance
The company has a debt-to-equity ratio of 2.28, a current ratio of 7.08 and a quick ratio of 6.80. The firm has a 50-day moving average of $9.88 and a 200-day moving average of $6.07. The stock has a market cap of $905.76 million, a PE ratio of -2.05 and a beta of 1.18.
Arcutis Biotherapeutics (NASDAQ:ARQT - Get Free Report) last posted its quarterly earnings data on Tuesday, February 27th. The company reported ($0.72) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.64) by ($0.08). The company had revenue of $13.53 million during the quarter, compared to the consensus estimate of $11.78 million. Arcutis Biotherapeutics had a negative net margin of 439.79% and a negative return on equity of 294.85%. During the same period in the previous year, the business earned ($1.18) earnings per share. Research analysts predict that Arcutis Biotherapeutics, Inc. will post -2.21 EPS for the current year.
Insider Activity
In related news, insider Masaru Matsuda sold 3,760 shares of the firm'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 available through this hyperlink. Corporate insiders own 20.70% of the company's stock.
Institutional Investors Weigh In On Arcutis Biotherapeutics
A number of institutional investors and hedge funds have recently modified their holdings of ARQT. Cape Investment Advisory Inc. bought a new stake in shares of Arcutis Biotherapeutics during the 4th quarter worth approximately $26,000. Cantor Fitzgerald L. P. purchased a new stake in Arcutis Biotherapeutics during the 4th quarter valued at about $33,000. Victory Capital Management Inc. acquired a new position in shares of Arcutis Biotherapeutics in the 4th quarter valued at about $34,000. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Arcutis Biotherapeutics by 586.8% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 10,920 shares of the company's stock valued at $35,000 after buying an additional 9,330 shares during the period. Finally, Amalgamated Bank lifted its holdings in shares of Arcutis Biotherapeutics by 48.9% in the 4th quarter. Amalgamated Bank now owns 11,078 shares of the company's stock valued at $36,000 after buying 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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