Arcutis Biotherapeutics (NASDAQ:ARQT) Stock Crosses Above 50-Day Moving Average - What's Next?

Key Points

• Arcutis Biotherapeutics shares rose 4.5% and moved above their 50-day moving average of $27.28, trading as high as $27.62; the last reported price was $27.39.
• Analyst sentiment is broadly positive: eight analysts rate the stock Buy and two Hold, giving it a Moderate Buy consensus and an average price target of $39.75.
• Quarterly results were mixed: earnings per share of $0.06 missed the $0.18 consensus, while revenue of $143.92 million exceeded estimates of $142.59 million.

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT - Get Free Report)'s stock price crossed above its fifty day moving average during trading on Tuesday. The stock has a fifty day moving average of $27.28 and traded as high as $27.62. Arcutis Biotherapeutics shares last traded at $27.39, with a volume of 2,223,702 shares changing hands.

Analyst Ratings Changes

Several research firms have recently commented on ARQT. Guggenheim boosted their price target on shares of Arcutis Biotherapeutics from $38.00 to $44.00 and gave the company a "buy" rating in a report on Monday, October 19th. Cantor Fitzgerald initiated coverage on Arcutis Biotherapeutics in a research report on Thursday, October 15th. They set an "overweight" rating and a $48.00 price objective for the company. Weiss Ratings upgraded Arcutis Biotherapeutics from a "hold (c-)" rating to a "hold (c)" rating in a research note on Thursday, October 29th. TD Cowen upped their target price on Arcutis Biotherapeutics from $35.00 to $40.00 and gave the stock a "buy" rating in a research report on Thursday, November 5th. Finally, Jefferies Financial Group reaffirmed a "buy" rating and set a $39.00 price target on shares of Arcutis Biotherapeutics in a research note on Thursday, October 8th. Eight analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Arcutis Biotherapeutics currently has a consensus rating of "Moderate Buy" and a consensus target price of $39.75.

Arcutis Biotherapeutics Stock Up 4.5%

The business has a 50-day simple moving average of $27.28 and a two-hundred day simple moving average of $25.37. The company has a market cap of $3.46 billion, a price-to-earnings ratio of 130.43 and a beta of 1.66. The company has a quick ratio of 2.66, a current ratio of 2.92 and a debt-to-equity ratio of 0.42.

Arcutis Biotherapeutics (NASDAQ:ARQT - Get Free Report) last issued its quarterly earnings data on Wednesday, November 4th. The company reported $0.06 EPS for the quarter, missing analysts' consensus estimates of $0.18 by ($0.12). Arcutis Biotherapeutics had a net margin of 5.88% and a return on equity of 14.18%. The company had revenue of $143.92 million for the quarter, compared to analyst estimates of $142.59 million. As a group, equities analysts forecast that Arcutis Biotherapeutics, Inc. will post 0.28 earnings per share for the current fiscal year.

Insider Buying and Selling at Arcutis Biotherapeutics

In related news, Director Howard Welgus sold 4,728 shares of the firm's stock in a transaction on Thursday, October 15th. The shares were sold at an average price of $26.93, for a total value of $127,325.04. Following the transaction, the director directly owned 35,207 shares in the company, valued at approximately $948,124.51. This trade represents a 11.84% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Todd Watanabe sold 4,377 shares of Arcutis Biotherapeutics stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $31.86, for a total transaction of $139,451.22. Following the completion of the transaction, the insider owned 712,826 shares in the company, valued at $22,710,636.36. This trade represents a 0.61% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 108,932 shares of company stock worth $3,158,225 in the last quarter. 9.40% of the stock is owned by corporate insiders.

Institutional Trading of Arcutis Biotherapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Pinnacle Wealth Planning Services Inc. acquired a new position in Arcutis Biotherapeutics during the 3rd quarter valued at $36,000. Allworth Financial LP grew its position in Arcutis Biotherapeutics by 158.2% during the third quarter. Allworth Financial LP now owns 2,089 shares of the company's stock worth $55,000 after buying an additional 1,280 shares in the last quarter. Nykredit A S acquired a new stake in Arcutis Biotherapeutics during the second quarter worth about $63,000. Integrated Wealth Concepts LLC bought a new position in Arcutis Biotherapeutics during the second quarter valued at about $84,000. Finally, Sterling Capital Management LLC increased its stake in Arcutis Biotherapeutics by 839.3% during the third quarter. Sterling Capital Management LLC now owns 3,776 shares of the company's stock valued at $100,000 after acquiring an additional 3,374 shares during the period.

Arcutis Biotherapeutics Company Profile

Arcutis Biotherapeutics is a biopharmaceutical company focused on developing and commercializing treatments for inflammatory skin diseases. Founded in 2016, the company is headquartered in Westlake Village, California. Arcutis primarily serves the U.S. market and continues to develop medicines for dermatologic conditions. Its leadership is headed by President and Chief Executive Officer Frank Watanabe.

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