Arcutis Biotherapeutics (NASDAQ:ARQT) Stock Price Down 4.2%

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT)’s share price dropped 4.2% on Thursday . The stock traded as low as $9.81 and last traded at $9.82. Approximately 134,132 shares were traded during trading, a decline of 97% from the average daily volume of 4,744,550 shares. The stock had previously closed at $10.25.

Analyst Upgrades and Downgrades

ARQT has been the topic of several recent analyst reports. Mizuho reaffirmed a “buy” rating and set a $16.00 target price (up previously from $8.00) on shares of Arcutis Biotherapeutics in a research note on Friday, February 23rd. Needham & Company LLC reaffirmed a “buy” rating and set a $16.00 target price on shares of Arcutis Biotherapeutics in a research note on Friday, April 12th. Finally, The Goldman Sachs Group lifted their target price on Arcutis Biotherapeutics from $6.00 to $11.00 and gave the company a “neutral” rating in a research note on Wednesday, February 28th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $26.56.

Arcutis Biotherapeutics Stock Down 5.4 %

The company has a current ratio of 7.08, a quick ratio of 6.80 and a debt-to-equity ratio of 2.28. The firm has a market capitalization of $939.06 million, a price-to-earnings ratio of -2.45 and a beta of 1.14. The stock has a fifty day moving average of $9.94 and a 200-day moving average of $5.58.

Arcutis Biotherapeutics (NASDAQ:ARQT) last issued its earnings results on Tuesday, February 27th. The company reported ($0.72) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.64) by ($0.08). The company had revenue of $13.53 million during the quarter, compared to analyst estimates of $11.78 million. Arcutis Biotherapeutics had a negative return on equity of 294.85% and a negative net margin of 439.79%. During the same quarter in the previous year, the firm earned ($1.18) earnings per share. As a group, sell-side analysts expect that Arcutis Biotherapeutics, Inc. will post -2.49 EPS for the current year.

Insider Activity

In other news, insider Masaru Matsuda sold 3,760 shares of Arcutis Biotherapeutics stock in a transaction on Monday, March 4th. The stock was sold at an average price of $11.12, for a total transaction of $41,811.20. Following the transaction, the insider now owns 190,424 shares in the company, valued at $2,117,514.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 20.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Hennion & Walsh Asset Management Inc. grew its holdings in shares of Arcutis Biotherapeutics by 14.4% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 48,997 shares of the company’s stock valued at $486,000 after buying an additional 6,155 shares in the last quarter. Vanguard Group Inc. boosted its position in Arcutis Biotherapeutics by 70.0% during the fourth quarter. Vanguard Group Inc. now owns 4,896,513 shares of the company’s stock valued at $15,816,000 after purchasing an additional 2,017,053 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in Arcutis Biotherapeutics by 120.1% during the fourth quarter. Goldman Sachs Group Inc. now owns 733,002 shares of the company’s stock valued at $2,368,000 after purchasing an additional 399,992 shares during the last quarter. American International Group Inc. boosted its position in Arcutis Biotherapeutics by 53.2% during the fourth quarter. American International Group Inc. now owns 39,311 shares of the company’s stock valued at $127,000 after purchasing an additional 13,651 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in Arcutis Biotherapeutics by 100.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 46,072 shares of the company’s stock valued at $149,000 after purchasing an additional 23,125 shares during the last quarter.

About Arcutis Biotherapeutics

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.