Analysts’ Recent Ratings Updates for Arcutis Biotherapeutics (ARQT)

A number of research firms have changed their ratings and price targets for Arcutis Biotherapeutics (NASDAQ: ARQT):

• 11/13/2023 – Arcutis Biotherapeutics had its price target lowered by analysts at Morgan Stanley from $45.00 to $10.00. They now have an “overweight” rating on the stock.
• 11/8/2023 – Arcutis Biotherapeutics had its “hold” rating reaffirmed by analysts at Jonestrading.
• 11/6/2023 – Arcutis Biotherapeutics had its price target lowered by analysts at HC Wainwright from $22.00 to $8.00. They now have a “buy” rating on the stock.
• 11/6/2023 – Arcutis Biotherapeutics had its price target lowered by analysts at Needham & Company LLC from $22.00 to $8.00. They now have a “buy” rating on the stock.
• 10/26/2023 – Arcutis Biotherapeutics was downgraded by analysts at Mizuho from a “buy” rating to a “neutral” rating.
• 10/13/2023 – Arcutis Biotherapeutics had its “neutral” rating reaffirmed by analysts at The Goldman Sachs Group, Inc.. They now have a $6.00 price target on the stock, down previously from $32.00.
• 9/25/2023 – Arcutis Biotherapeutics had its “buy” rating reaffirmed by analysts at Mizuho. They now have a $57.00 price target on the stock.

Arcutis Biotherapeutics Trading Down 1.4 %

Shares of NASDAQ ARQT traded down $0.03 during midday trading on Thursday, hitting $2.05. The company’s stock had a trading volume of 118,490 shares, compared to its average volume of 1,374,976. The company has a current ratio of 6.72, a quick ratio of 6.39 and a debt-to-equity ratio of 4.30. The business’s 50 day moving average is $4.23 and its two-hundred day moving average is $7.78. Arcutis Biotherapeutics, Inc. has a 12-month low of $1.80 and a 12-month high of $19.20. The firm has a market cap of $193.48 million, a P/E ratio of -0.47 and a beta of 0.89.

Insiders Place Their Bets

In related news, major shareholder Life Sciences Viii L. Frazier purchased 80,000 shares of Arcutis Biotherapeutics stock in a transaction that occurred on Tuesday, October 24th. The shares were bought at an average price of $2.50 per share, with a total value of $200,000.00. Following the purchase, the insider now directly owns 8,764,232 shares of the company’s stock, valued at approximately $21,910,580. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 20.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Point72 Hong Kong Ltd increased its holdings in Arcutis Biotherapeutics by 102.9% during the second quarter. Point72 Hong Kong Ltd now owns 1,197 shares of the company’s stock valued at $26,000 after buying an additional 607 shares during the period. Quantbot Technologies LP purchased a new position in shares of Arcutis Biotherapeutics in the 1st quarter valued at $44,000. Fox Run Management L.L.C. purchased a new position in shares of Arcutis Biotherapeutics in the 3rd quarter valued at $60,000. Schroder Investment Management Group purchased a new position in Arcutis Biotherapeutics in the third quarter valued at about $64,000. Finally, PNC Financial Services Group Inc. grew its stake in Arcutis Biotherapeutics by 19.4% in the second quarter. PNC Financial Services Group Inc. now owns 9,815 shares of the company’s stock valued at $94,000 after purchasing an additional 1,598 shares during the last quarter.

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.