Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Given Consensus Recommendation of “Moderate Buy” by Analysts

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQTGet Free Report) has been given a consensus recommendation of “Moderate Buy” by the nine ratings firms that are covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $24.22.

A number of equities research analysts recently issued reports on ARQT shares. The Goldman Sachs Group restated a “neutral” rating and issued a $6.00 price objective (down from $32.00) on shares of Arcutis Biotherapeutics in a research note on Friday, October 13th. Mizuho raised Arcutis Biotherapeutics from a “neutral” rating to a “buy” rating and increased their price objective for the company from $4.00 to $8.00 in a research report on Tuesday, January 2nd. HC Wainwright lowered their price target on Arcutis Biotherapeutics from $22.00 to $8.00 and set a “buy” rating on the stock in a report on Monday, November 6th. Morgan Stanley cut their price objective on Arcutis Biotherapeutics from $45.00 to $10.00 and set an “overweight” rating on the stock in a research report on Monday, November 13th. Finally, Needham & Company LLC decreased their price target on Arcutis Biotherapeutics from $22.00 to $8.00 and set a “buy” rating for the company in a research note on Monday, November 6th.

Check Out Our Latest Research Report on ARQT

Hedge Funds Weigh In On Arcutis Biotherapeutics

A number of institutional investors have recently added to or reduced their stakes in ARQT. Jennison Associates LLC grew its stake in shares of Arcutis Biotherapeutics by 93.9% in the second quarter. Jennison Associates LLC now owns 4,293,966 shares of the company’s stock valued at $40,921,000 after buying an additional 2,079,476 shares in the last quarter. State Street Corp grew its holdings in shares of Arcutis Biotherapeutics by 44.6% in the 2nd quarter. State Street Corp now owns 5,226,009 shares of the company’s stock worth $49,804,000 after acquiring an additional 1,611,228 shares during the period. Rubric Capital Management LP lifted its stake in Arcutis Biotherapeutics by 39.6% in the 2nd quarter. Rubric Capital Management LP now owns 4,884,530 shares of the company’s stock valued at $46,550,000 after buying an additional 1,384,530 shares in the last quarter. Bank of America Corp DE lifted its stake in shares of Arcutis Biotherapeutics by 578.5% during the 1st quarter. Bank of America Corp DE now owns 1,621,774 shares of the company’s stock worth $17,840,000 after purchasing an additional 1,382,736 shares during the period. Finally, Cormorant Asset Management LP purchased a new position in shares of Arcutis Biotherapeutics in the 2nd quarter worth $7,624,000.

Arcutis Biotherapeutics Stock Up 6.1 %

Shares of NASDAQ ARQT opened at $4.84 on Friday. The firm has a 50 day moving average price of $2.83 and a 200 day moving average price of $5.25. The company has a debt-to-equity ratio of 4.30, a quick ratio of 6.39 and a current ratio of 6.72. The stock has a market cap of $456.81 million, a P/E ratio of -1.08 and a beta of 0.93. Arcutis Biotherapeutics has a 52-week low of $1.76 and a 52-week high of $17.57.

Arcutis Biotherapeutics (NASDAQ:ARQTGet Free Report) last posted its earnings results on Friday, November 3rd. The company reported ($0.73) EPS for the quarter, topping analysts’ consensus estimates of ($0.90) by $0.17. Arcutis Biotherapeutics had a negative net margin of 546.23% and a negative return on equity of 224.85%. The firm had revenue of $38.11 million during the quarter, compared to analysts’ expectations of $9.54 million. Analysts expect that Arcutis Biotherapeutics will post -3.78 EPS for the current year.

Arcutis Biotherapeutics Company Profile

(Get Free Report

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.

Further Reading

Analyst Recommendations for Arcutis Biotherapeutics (NASDAQ:ARQT)

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