Arcutis Biotherapeutics’ (ARQT) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Arcutis Biotherapeutics (NASDAQ:ARQT) in a research note issued to investors on Monday morning,Benzinga reports. They currently have a $19.00 target price on the stock.

Several other equities analysts have also commented on ARQT. Needham & Company LLC reaffirmed a “buy” rating and issued a $18.00 price target on shares of Arcutis Biotherapeutics in a research note on Thursday, November 7th. Mizuho boosted their price objective on Arcutis Biotherapeutics from $19.00 to $20.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 7th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $16.60.

Arcutis Biotherapeutics Price Performance

Arcutis Biotherapeutics stock opened at $13.92 on Monday. The stock has a market capitalization of $1.63 billion, a P/E ratio of -7.78 and a beta of 1.30. The company’s fifty day moving average price is $12.77 and its 200 day moving average price is $10.76. 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 has a 1 year low of $3.11 and a 1 year high of $16.20.

Arcutis Biotherapeutics (NASDAQ:ARQT) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.33) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.09. Arcutis Biotherapeutics had a negative net margin of 140.97% and a negative return on equity of 119.11%. The firm had revenue of $44.76 million for the quarter, compared to analyst estimates of $38.05 million. As a group, equities research analysts anticipate that Arcutis Biotherapeutics will post -1.34 earnings per share for the current fiscal year.

Insider Activity at Arcutis Biotherapeutics

In other news, Director Howard G. Welgus sold 10,000 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $8.65, for a total value of $86,500.00. Following the completion of the sale, the director now directly owns 171,944 shares of the company’s stock, valued at approximately $1,487,315.60. This represents a 5.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Masaru Matsuda sold 5,015 shares of Arcutis Biotherapeutics stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $8.68, for a total value of $43,530.20. Following the completion of the transaction, the insider now owns 178,273 shares in the company, valued at $1,547,409.64. This trade represents a 2.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 78,291 shares of company stock valued at $927,966 over the last ninety days. Insiders own 9.50% of the company’s stock.

Institutional Investors Weigh In On Arcutis Biotherapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the business. Suvretta Capital Management LLC boosted its holdings in Arcutis Biotherapeutics by 7.2% during the third quarter. Suvretta Capital Management LLC now owns 10,721,511 shares of the company’s stock worth $99,710,000 after buying an additional 717,019 shares in the last quarter. GSA Capital Partners LLP increased its stake in shares of Arcutis Biotherapeutics by 730.0% during the 3rd quarter. GSA Capital Partners LLP now owns 237,174 shares of the company’s stock valued at $2,206,000 after acquiring an additional 208,599 shares during the last quarter. Rubric Capital Management LP increased its holdings in shares of Arcutis Biotherapeutics by 11.7% during the 3rd quarter. Rubric Capital Management LP now owns 10,966,672 shares of the company’s stock worth $101,990,000 after buying an additional 1,150,000 shares during the last quarter. Wesbanco Bank Inc. purchased a new position in shares of Arcutis Biotherapeutics in the 3rd quarter worth about $955,000. Finally, Algert Global LLC grew its stake in Arcutis Biotherapeutics by 595.9% during the third quarter. Algert Global LLC now owns 72,480 shares of the company’s stock worth $674,000 after buying an additional 62,065 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.