Arcutis Biotherapeutics (NASDAQ:ARQT) Stock Price Up 3.4% – Time to Buy?

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) rose 3.4% on Wednesday . The stock traded as high as $29.17 and last traded at $29.0350. Approximately 161,975 shares traded hands during trading, a decline of 92% from the average daily volume of 2,138,277 shares. The stock had previously closed at $28.08.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Zacks Research cut shares of Arcutis Biotherapeutics from a “strong-buy” rating to a “hold” rating in a research report on Monday. Wall Street Zen downgraded shares of Arcutis Biotherapeutics from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Needham & Company LLC lifted their target price on Arcutis Biotherapeutics from $22.00 to $30.00 and gave the stock a “buy” rating in a report on Tuesday, October 28th. Mizuho raised their price target on shares of Arcutis Biotherapeutics from $32.00 to $37.00 and gave the company an “outperform” rating in a report on Friday, November 28th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Arcutis Biotherapeutics in a report on Monday. Six investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $29.00.

Arcutis Biotherapeutics Stock Up 4.3%

The company has a quick ratio of 3.28, a current ratio of 3.50 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $3.59 billion, a PE ratio of -81.33 and a beta of 1.69. The company’s 50 day moving average is $27.19 and its two-hundred day moving average is $20.14.

Arcutis Biotherapeutics (NASDAQ:ARQT) last released its quarterly earnings data on Tuesday, October 28th. The company reported $0.06 EPS for the quarter, beating the consensus estimate of ($0.10) by $0.16. The business had revenue of $99.22 million during 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%. On average, analysts anticipate that Arcutis Biotherapeutics, Inc. will post -1.33 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Howard G. Welgus sold 10,000 shares of the stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $30.21, for a total value of $302,100.00. Following the sale, the director directly owned 79,744 shares of the company’s stock, valued at $2,409,066.24. This represents a 11.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Sue-Jean Lin sold 25,272 shares of the firm’s stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $30.78, for a total transaction of $777,872.16. Following the completion of the sale, the director directly owned 26,735 shares of the company’s stock, valued at approximately $822,903.30. The trade was a 48.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 304,968 shares of company stock valued at $7,979,862 over the last 90 days. 9.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of ARQT. Ieq Capital LLC purchased a new stake in shares of Arcutis Biotherapeutics in the first quarter worth approximately $345,000. State of Wyoming grew its position in Arcutis Biotherapeutics by 228.5% in the 1st quarter. State of Wyoming now owns 13,232 shares of the company’s stock valued at $207,000 after acquiring an additional 9,204 shares during the last quarter. Graham Capital Management L.P. increased its stake in Arcutis Biotherapeutics by 40.2% in the first quarter. Graham Capital Management L.P. now owns 37,617 shares of the company’s stock worth $588,000 after purchasing an additional 10,780 shares during the period. Allostery Investments LP bought a new stake in shares of Arcutis Biotherapeutics during the first quarter worth $117,000. Finally, Advisors Asset Management Inc. lifted its position in shares of Arcutis Biotherapeutics by 26.2% during the first quarter. Advisors Asset Management Inc. now owns 28,187 shares of the company’s stock worth $441,000 after purchasing an additional 5,848 shares during the last quarter.

About Arcutis Biotherapeutics

Arcutis Biotherapeutics is a clinical-stage biopharmaceutical company focused on developing and commercializing innovative therapies for immuno-inflammatory skin diseases. The company’s research and development efforts center on targeted treatments that address the underlying biology of conditions such as plaque psoriasis, atopic dermatitis, seborrheic dermatitis and vitiligo. Arcutis employs a precision-medicine approach to deliver topical therapies designed to improve efficacy and tolerability compared with existing treatment options.

In August 2022, Arcutis received U.S.