Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) have been given an average rating of “Moderate Buy” by the eight research firms that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $34.00.

A number of brokerages have commented on ARQT. Mizuho decreased their price objective on Arcutis Biotherapeutics from $37.00 to $35.00 and set an “outperform” rating on the stock in a research report on Monday, March 2nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Arcutis Biotherapeutics in a research report on Friday, March 27th. HC Wainwright increased their price objective on Arcutis Biotherapeutics from $30.00 to $34.00 and gave the company a “buy” rating in a research report on Thursday, February 26th. Guggenheim increased their price objective on Arcutis Biotherapeutics from $34.00 to $35.00 and gave the company a “buy” rating in a research report on Friday, February 27th. Finally, Wall Street Zen lowered Arcutis Biotherapeutics from a “buy” rating to a “hold” rating in a research report on Saturday.

Arcutis Biotherapeutics Stock Down 2.6%

Shares of ARQT opened at $20.69 on Wednesday. The firm has a market capitalization of $2.59 billion, a price-to-earnings ratio of -689.44 and a beta of 1.58. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.46 and a current ratio of 2.68. The business’s fifty day moving average price is $23.26 and its two-hundred day moving average price is $25.79. Arcutis Biotherapeutics has a 52 week low of $12.72 and a 52 week high of $31.77.

Arcutis Biotherapeutics (NASDAQ:ARQT) last announced its quarterly earnings data on Wednesday, May 6th. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.07). The firm had revenue of $105.40 million during the quarter, compared to the consensus estimate of $103.68 million. Arcutis Biotherapeutics had a negative net margin of 0.57% and a negative return on equity of 1.41%. On average, analysts predict that Arcutis Biotherapeutics will post 0.15 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Patrick Burnett sold 6,287 shares of the firm’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $25.18, for a total transaction of $158,306.66. Following the sale, the insider owned 121,150 shares of the company’s stock, valued at approximately $3,050,557. This trade represents a 4.93% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Masaru Matsuda sold 8,733 shares of the firm’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $25.30, for a total value of $220,944.90. Following the sale, the insider directly owned 136,932 shares in the company, valued at $3,464,379.60. The trade was a 6.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 92,831 shares of company stock worth $2,295,499 over the last 90 days. 9.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Arcutis Biotherapeutics

Hedge funds have recently added to or reduced their stakes in the business. Focus Partners Wealth raised its stake in shares of Arcutis Biotherapeutics by 0.8% in the 3rd quarter. Focus Partners Wealth now owns 65,196 shares of the company’s stock valued at $1,237,000 after purchasing an additional 490 shares during the period. Arizona State Retirement System raised its stake in shares of Arcutis Biotherapeutics by 1.8% in the 3rd quarter. Arizona State Retirement System now owns 31,685 shares of the company’s stock valued at $597,000 after purchasing an additional 568 shares during the period. Schroder Investment Management Group raised its stake in shares of Arcutis Biotherapeutics by 1.1% in the 4th quarter. Schroder Investment Management Group now owns 57,136 shares of the company’s stock valued at $1,604,000 after purchasing an additional 594 shares during the period. AlphaQuest LLC raised its stake in shares of Arcutis Biotherapeutics by 5.7% in the 3rd quarter. AlphaQuest LLC now owns 12,603 shares of the company’s stock valued at $238,000 after purchasing an additional 682 shares during the period. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Arcutis Biotherapeutics by 124.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,261 shares of the company’s stock valued at $37,000 after purchasing an additional 698 shares during the period.

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.