Arcutis Biotherapeutics (NASDAQ:ARQT – Get Rating) announced its earnings results on Thursday. The company reported ($1.31) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.41) by $0.10, Fidelity Earnings reports.
Arcutis Biotherapeutics Price Performance
ARQT opened at $25.15 on Friday. Arcutis Biotherapeutics has a twelve month low of $13.59 and a twelve month high of $26.13. The firm’s 50-day moving average price is $22.13 and its 200 day moving average price is $19.50. The company has a debt-to-equity ratio of 0.29, a quick ratio of 10.89 and a current ratio of 10.89.
Wall Street Analyst Weigh In
Several analysts have recently issued reports on the stock. Morgan Stanley lifted their target price on shares of Arcutis Biotherapeutics from $39.00 to $45.00 and gave the company an “overweight” rating in a research report on Tuesday. The Goldman Sachs Group boosted their price target on shares of Arcutis Biotherapeutics from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday.
Insider Buying and Selling
Institutional Investors Weigh In On Arcutis Biotherapeutics
A number of institutional investors and hedge funds have recently made changes to their positions in ARQT. Swiss National Bank raised its stake in shares of Arcutis Biotherapeutics by 7.8% in the 1st quarter. Swiss National Bank now owns 59,500 shares of the company’s stock valued at $1,146,000 after acquiring an additional 4,300 shares during the period. JPMorgan Chase & Co. raised its stake in shares of 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 acquiring an additional 4,646 shares during the period. MetLife Investment Management LLC raised its stake in shares of Arcutis Biotherapeutics by 58.5% in the 1st quarter. MetLife Investment Management LLC now owns 16,718 shares of the company’s stock valued at $322,000 after acquiring an additional 6,170 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Arcutis Biotherapeutics by 83.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 227,383 shares of the company’s stock valued at $4,378,000 after acquiring an additional 103,477 shares during the period. Finally, Vanguard Group Inc. raised its stake in shares of Arcutis Biotherapeutics by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 1,531,098 shares of the company’s stock valued at $29,489,000 after acquiring an additional 16,770 shares during the period. 87.59% of the stock is owned by hedge funds and other institutional investors.
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.
- Get a free copy of the StockNews.com research report on Arcutis Biotherapeutics (ARQT)
- MarketBeat: Week in Review 8/1 – 8/5
- How to Use High Beta Stocks to Maximize Your Investing Profits
- Cronos Group Inc’s Revenues Are Up, Is It Time to Buy?
- Why Apple Could Be At All-Time Highs By Year End
- Beyond Meat Is Not Beyond Hope, And It’s Cheap
Receive News & Ratings for Arcutis Biotherapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arcutis Biotherapeutics and related companies with MarketBeat.com's FREE daily email newsletter.