Arcutis Biotherapeutics (NASDAQ:ARQT) Stock Rating Lowered by Zacks Research

Arcutis Biotherapeutics (NASDAQ:ARQT) was downgraded by equities research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.

A number of other research analysts also recently issued reports on the company. Mizuho lifted their price target on Arcutis Biotherapeutics from $32.00 to $37.00 and gave the company an “outperform” rating in a report on Friday, November 28th. The Goldman Sachs Group raised their price objective on Arcutis Biotherapeutics from $19.00 to $29.00 and gave the company a “neutral” rating in a research report on Thursday, October 30th. Needham & Company LLC boosted their target price on shares of Arcutis Biotherapeutics from $22.00 to $30.00 and gave the stock a “buy” rating in a report on Tuesday, October 28th. Wall Street Zen lowered shares of Arcutis Biotherapeutics from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arcutis Biotherapeutics in a research report on Monday. Six investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $29.00.

Arcutis Biotherapeutics Trading Down 1.7%

NASDAQ:ARQT opened at $28.08 on Monday. Arcutis Biotherapeutics has a one year low of $11.13 and a one year high of $31.77. The company has a debt-to-equity ratio of 0.68, a quick ratio of 3.28 and a current ratio of 3.50. The firm has a market cap of $3.44 billion, a P/E ratio of -78.00 and a beta of 1.69. The firm has a 50-day simple moving average of $27.19 and a 200-day simple moving average of $20.14.

Arcutis Biotherapeutics (NASDAQ:ARQT) last released its quarterly earnings data on Tuesday, October 28th. The company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.16. The firm 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%. Equities analysts anticipate that Arcutis Biotherapeutics will post -1.33 EPS for the current fiscal year.

Insider Buying and Selling

In other Arcutis Biotherapeutics news, Director Howard G. Welgus sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $30.21, for a total transaction of $302,100.00. Following the sale, the director owned 79,744 shares of the company’s stock, valued at approximately $2,409,066.24. The trade was a 11.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Todd Watanabe sold 48,945 shares of the firm’s stock in a transaction on Monday, November 24th. The stock was sold at an average price of $30.36, for a total transaction of $1,485,970.20. Following the completion of the transaction, the insider directly owned 740,537 shares of the company’s stock, valued at approximately $22,482,703.32. This represents a 6.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 304,968 shares of company stock worth $7,979,862 over the last ninety days. Company insiders own 9.40% of the company’s stock.

Institutional Trading of Arcutis Biotherapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Tudor Investment Corp ET AL purchased a new stake in Arcutis Biotherapeutics during the 3rd quarter valued at about $1,319,000. CIBC Bancorp USA Inc. acquired a new stake in shares of Arcutis Biotherapeutics during the third quarter worth about $215,000. Woodline Partners LP boosted its position in Arcutis Biotherapeutics by 53.1% in the third quarter. Woodline Partners LP now owns 314,619 shares of the company’s stock valued at $5,931,000 after buying an additional 109,109 shares during the last quarter. Dark Forest Capital Management LP acquired a new position in Arcutis Biotherapeutics in the 3rd quarter worth approximately $516,000. Finally, PharVision Advisers LLC purchased a new position in Arcutis Biotherapeutics during the 3rd quarter worth approximately $245,000.

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.