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
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.
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