Arcutis Biotherapeutics (NASDAQ:ARQT) Hits New 52-Week High – Should You Buy?

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT)’s share price reached a new 52-week high during mid-day trading on Monday. The company traded as high as $32.24 and last traded at $31.4450, with a volume of 1,775,930 shares trading hands. The stock had previously closed at $28.82.

Analyst Ratings Changes

A number of research firms recently weighed in on ARQT. Weiss Ratings cut shares of Arcutis Biotherapeutics from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday. Needham & Company LLC boosted their target price on Arcutis Biotherapeutics from $36.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Cantor Fitzgerald began coverage on Arcutis Biotherapeutics in a research note on Thursday. They set an “overweight” rating and a $48.00 price target on the stock. Guggenheim restated a “buy” rating and set a $44.00 price target on shares of Arcutis Biotherapeutics in a research report on Monday. Finally, Morgan Stanley raised their price target on Arcutis Biotherapeutics from $34.00 to $38.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Eight equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $38.00.

Arcutis Biotherapeutics Trading Up 10.2%

The company’s 50 day moving average price is $25.45 and its 200 day moving average price is $24.83. The firm has a market cap of $3.99 billion, a PE ratio of 151.22 and a beta of 1.57. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.92 and a quick ratio of 2.67.

Arcutis Biotherapeutics (NASDAQ:ARQT) last released its earnings results on Wednesday, August 5th. The company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.05. The company had revenue of $129.86 million for the quarter, compared to analyst estimates of $118.85 million. Arcutis Biotherapeutics had a net margin of 6.15% and a return on equity of 15.05%. As a group, analysts forecast that Arcutis Biotherapeutics, Inc. will post 0.43 EPS for the current fiscal year.

Insider Transactions at Arcutis Biotherapeutics

In related news, Director Howard Welgus sold 4,730 shares of the business’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $26.18, for a total transaction of $123,831.40. Following the completion of the transaction, the director directly owned 36,475 shares of the company’s stock, valued at $954,915.50. The trade was a 11.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Todd Watanabe sold 4,375 shares of the stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $26.12, for a total value of $114,275.00. Following the completion of the sale, the insider directly owned 717,203 shares in the company, valued at $18,733,342.36. This represents a 0.61% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 79,225 shares of company stock valued at $2,015,966 in the last 90 days. Insiders own 9.40% of the company’s stock.

Institutional Investors Weigh In On Arcutis Biotherapeutics

Several institutional investors have recently modified their holdings of the company. State of Alaska Department of Revenue acquired a new position in shares of Arcutis Biotherapeutics during the third quarter worth $653,000. Toth Financial Advisory Corp acquired a new stake in Arcutis Biotherapeutics in the third quarter valued at $285,000. Tidal Investments LLC acquired a new stake in Arcutis Biotherapeutics in the second quarter valued at $606,000. Integrated Wealth Concepts LLC purchased a new stake in Arcutis Biotherapeutics during the 2nd quarter worth about $84,000. Finally, Arizona State Retirement System lifted its holdings in Arcutis Biotherapeutics by 1.7% during the 2nd quarter. Arizona State Retirement System now owns 30,802 shares of the company’s stock worth $808,000 after buying an additional 521 shares during the last quarter.

About Arcutis Biotherapeutics

Arcutis Biotherapeutics, Inc (NASDAQ: ARQT) is a biopharmaceutical company focused on developing and commercializing treatments for dermatologic conditions. The company concentrates on medical dermatology, with an emphasis on addressing diseases that can significantly affect patients’ quality of life and for which additional treatment options are needed.

Arcutis’s primary commercial product is ZORYVE (roflumilast), a topical phosphodiesterase-4 inhibitor available in multiple formulations.