Arcutis Biotherapeutics (NASDAQ:ARQT – Get Rating) posted its quarterly earnings data on Thursday. The company reported ($1.31) earnings per share for the quarter, topping the consensus estimate of ($1.41) by $0.10, Fidelity Earnings reports.
Arcutis Biotherapeutics Trading Up 2.2 %
NASDAQ:ARQT opened at $25.15 on Friday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 10.89 and a current ratio of 10.89. The stock’s 50 day moving average price is $22.13 and its 200 day moving average price is $19.50. Arcutis Biotherapeutics has a 52 week low of $13.59 and a 52 week high of $26.13.
Analysts Set New Price Targets
A number of equities research analysts have commented on ARQT shares. Morgan Stanley raised their price objective on Arcutis Biotherapeutics from $39.00 to $45.00 and gave the stock an “overweight” rating in a research report on Tuesday. The Goldman Sachs Group lifted their target price on shares of Arcutis Biotherapeutics from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday.
Insiders Place Their Bets
Institutional Investors Weigh In On Arcutis Biotherapeutics
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Swiss National Bank grew its stake in Arcutis Biotherapeutics by 7.8% in the first quarter. Swiss National Bank now owns 59,500 shares of the company’s stock valued at $1,146,000 after purchasing an additional 4,300 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Arcutis Biotherapeutics by 20.8% in the 1st quarter. JPMorgan Chase & Co. now owns 27,022 shares of the company’s stock valued at $520,000 after purchasing an additional 4,646 shares during the period. MetLife Investment Management LLC grew its holdings in shares of Arcutis Biotherapeutics by 58.5% during the 1st quarter. MetLife Investment Management LLC now owns 16,718 shares of the company’s stock worth $322,000 after purchasing an additional 6,170 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Arcutis Biotherapeutics by 83.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 227,383 shares of the company’s stock worth $4,378,000 after acquiring an additional 103,477 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Arcutis Biotherapeutics by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 1,531,098 shares of the company’s stock worth $29,489,000 after buying an additional 16,770 shares during the last quarter. Institutional investors own 87.59% of the company’s stock.
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.
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