Arcutis Biotherapeutics (NASDAQ:ARQT) Given “Buy” Rating at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Arcutis Biotherapeutics (NASDAQ:ARQT) in a report issued on Thursday,Benzinga reports. They currently have a $18.00 price objective on the stock.

Separately, Jefferies Financial Group began coverage on Arcutis Biotherapeutics in a report on Wednesday, August 28th. They set a “buy” rating and a $15.00 price target for the company. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $14.40.

Arcutis Biotherapeutics Stock Performance

NASDAQ ARQT traded up $0.42 during midday trading on Thursday, hitting $10.82. The company had a trading volume of 4,021,494 shares, compared to its average volume of 3,260,974. The firm has a fifty day simple moving average of $9.67 and a two-hundred day simple moving average of $9.30. The stock has a market cap of $1.26 billion, a price-to-earnings ratio of -4.75 and a beta of 1.18. Arcutis Biotherapeutics has a fifty-two week low of $1.76 and a fifty-two week high of $13.17. The company has a quick ratio of 8.19, a current ratio of 8.46 and a debt-to-equity ratio of 1.09.

Arcutis Biotherapeutics (NASDAQ:ARQT) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($0.33) EPS for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.09. Arcutis Biotherapeutics had a negative net margin of 150.51% and a negative return on equity of 145.41%. The business had revenue of $44.76 million during the quarter, compared to analysts’ expectations of $38.05 million. Equities analysts forecast that Arcutis Biotherapeutics will post -1.6 earnings per share for the current fiscal year.

Insider Buying and Selling at Arcutis Biotherapeutics

In other Arcutis Biotherapeutics news, Director Howard G. Welgus sold 10,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $10.77, for a total value of $107,700.00. Following the completion of the transaction, the director now directly owns 191,944 shares in the company, valued at approximately $2,067,236.88. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Larry Todd Edwards sold 3,725 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $10.01, for a total value of $37,287.25. Following the completion of the transaction, the senior vice president now owns 136,635 shares of the company’s stock, valued at approximately $1,367,716.35. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Howard G. Welgus sold 10,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $10.77, for a total value of $107,700.00. Following the transaction, the director now owns 191,944 shares in the company, valued at approximately $2,067,236.88. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 52,094 shares of company stock worth $492,157 over the last ninety days. Insiders own 9.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of ARQT. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Arcutis Biotherapeutics during the 1st quarter valued at about $469,000. Susquehanna Fundamental Investments LLC purchased a new stake in Arcutis Biotherapeutics in the first quarter valued at approximately $1,194,000. ProShare Advisors LLC grew its holdings in shares of Arcutis Biotherapeutics by 9.8% during the first quarter. ProShare Advisors LLC now owns 20,990 shares of the company’s stock worth $208,000 after buying an additional 1,870 shares during the last quarter. Koshinski Asset Management Inc. acquired a new stake in shares of Arcutis Biotherapeutics in the 1st quarter worth $198,000. Finally, Vanguard Group Inc. grew its holdings in Arcutis Biotherapeutics by 5.5% during the first quarter. Vanguard Group Inc. now owns 5,166,417 shares of the company’s stock worth $51,199,000 after acquiring an additional 269,904 shares during the period.

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.