Arcutis Biotherapeutics (NASDAQ:ARQT) Receives “Buy” Rating from HC Wainwright

HC Wainwright reiterated their buy rating on shares of Arcutis Biotherapeutics (NASDAQ:ARQT) in a research note released on Thursday,Benzinga reports. HC Wainwright currently has a $19.00 price target on the stock.

A number of other equities research analysts also recently commented on ARQT. Guggenheim reaffirmed a “buy” rating on shares of Arcutis Biotherapeutics in a research report on Monday, February 24th. Mizuho raised their target price on shares of Arcutis Biotherapeutics from $20.00 to $21.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 26th. Needham & Company LLC reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Arcutis Biotherapeutics in a research note on Wednesday, February 26th. The Goldman Sachs Group raised their target price on shares of Arcutis Biotherapeutics from $13.00 to $15.00 and gave the company a “neutral” rating in a research note on Thursday, February 27th. Finally, Jefferies Financial Group lifted their price objective on Arcutis Biotherapeutics from $16.00 to $19.00 and gave the stock a “buy” rating in a research note on Tuesday, March 11th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.80.

Arcutis Biotherapeutics Price Performance

Shares of ARQT opened at $14.73 on Thursday. The firm’s 50-day simple moving average is $14.20 and its two-hundred day simple moving average is $12.43. Arcutis Biotherapeutics has a fifty-two week low of $6.99 and a fifty-two week high of $17.75. The stock has a market cap of $1.75 billion, a PE ratio of -8.23 and a beta of 1.67. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.38 and a current ratio of 2.46.

Arcutis Biotherapeutics (NASDAQ:ARQT) last announced its quarterly earnings results on Tuesday, February 25th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.19. The company had revenue of $71.36 million for the quarter, compared to analysts’ expectations of $60.52 million. Arcutis Biotherapeutics had a negative net margin of 140.97% and a negative return on equity of 119.11%. Analysts anticipate that Arcutis Biotherapeutics will post -1.33 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Todd Franklin Watanabe sold 1,500 shares of Arcutis Biotherapeutics stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $17.52, for a total transaction of $26,280.00. Following the completion of the transaction, the insider now directly owns 927,414 shares of the company’s stock, valued at approximately $16,248,293.28. The trade was a 0.16 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Howard G. Welgus sold 10,000 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $12.71, for a total transaction of $127,100.00. Following the completion of the sale, the director now directly owns 141,944 shares in the company, valued at $1,804,108.24. This trade represents a 6.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 46,099 shares of company stock valued at $631,256 over the last ninety days. 9.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Arcutis Biotherapeutics

A number of large investors have recently bought and sold shares of the business. Point72 DIFC Ltd purchased a new stake in Arcutis Biotherapeutics in the third quarter worth $25,000. GF Fund Management CO. LTD. purchased a new stake in shares of Arcutis Biotherapeutics during the fourth quarter valued at $34,000. Venturi Wealth Management LLC bought a new position in shares of Arcutis Biotherapeutics in the fourth quarter worth about $46,000. Erste Asset Management GmbH purchased a new position in Arcutis Biotherapeutics in the 3rd quarter worth about $104,000. Finally, Cibc World Markets Corp bought a new stake in Arcutis Biotherapeutics during the 4th quarter valued at about $140,000.

Arcutis Biotherapeutics Company Profile

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.