Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Receives $29.00 Consensus Price Target from Brokerages

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) has received a consensus rating of “Moderate Buy” from the nine research firms that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $29.00.

Several analysts have recently weighed in on the stock. Mizuho lifted their price target on shares of Arcutis Biotherapeutics from $32.00 to $37.00 and gave the company an “outperform” rating in a research note on Friday, November 28th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Arcutis Biotherapeutics in a report on Monday. HC Wainwright restated a “buy” rating and set a $30.00 price target on shares of Arcutis Biotherapeutics in a research note on Wednesday, October 29th. Wall Street Zen lowered shares of Arcutis Biotherapeutics from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Finally, The Goldman Sachs Group increased their target price on shares of Arcutis Biotherapeutics from $19.00 to $29.00 and gave the stock a “neutral” rating in a report on Thursday, October 30th.

Arcutis Biotherapeutics Stock Performance

ARQT stock opened at $29.76 on Friday. Arcutis Biotherapeutics has a twelve month low of $11.13 and a twelve month high of $31.77. The firm has a market cap of $3.65 billion, a price-to-earnings ratio of -82.67 and a beta of 1.69. The business’s fifty day simple moving average is $24.72 and its two-hundred day simple moving average is $18.54. The company has a quick ratio of 3.28, a current ratio of 3.50 and a debt-to-equity ratio of 0.68.

Arcutis Biotherapeutics (NASDAQ:ARQT) last posted its quarterly earnings results on Tuesday, October 28th. The company reported $0.06 EPS for the quarter, topping the consensus estimate of ($0.10) by $0.16. The company had revenue of $99.22 million for the quarter, compared to the consensus estimate of $86.69 million. Arcutis Biotherapeutics had a negative net margin of 13.94% and a negative return on equity of 29.69%. Analysts predict that Arcutis Biotherapeutics will post -1.33 earnings per share for the current year.

Insider Buying and Selling

In other Arcutis Biotherapeutics news, insider Todd Watanabe sold 48,945 shares of Arcutis Biotherapeutics stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $30.36, for a total value of $1,485,970.20. Following the transaction, the insider owned 740,537 shares in the company, valued at $22,482,703.32. The trade was a 6.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Patrick Burnett sold 17,250 shares of the stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $24.18, for a total transaction of $417,105.00. Following the sale, the insider directly owned 98,325 shares of the company’s stock, valued at approximately $2,377,498.50. The trade was a 14.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 327,729 shares of company stock valued at $8,305,217 over the last ninety days. Company insiders own 9.40% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in Arcutis Biotherapeutics by 5.9% in the first quarter. Vanguard Group Inc. now owns 6,818,078 shares of the company’s stock valued at $106,635,000 after acquiring an additional 377,363 shares in the last quarter. Invesco Ltd. grew its stake in Arcutis Biotherapeutics by 18.0% during the 1st quarter. Invesco Ltd. now owns 1,328,954 shares of the company’s stock worth $20,785,000 after buying an additional 202,286 shares during the last quarter. Entropy Technologies LP acquired a new position in Arcutis Biotherapeutics during the 1st quarter valued at about $246,000. Virtu Financial LLC purchased a new stake in Arcutis Biotherapeutics in the first quarter valued at about $1,068,000. Finally, Nuveen LLC purchased a new stake in Arcutis Biotherapeutics in the first quarter valued at about $12,759,000.

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.