Brokerages Set Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) PT at $25.38

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQTGet Free Report) has been assigned an average recommendation of “Moderate Buy” from the eight brokerages that are presently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $25.38.

Several analysts have recently weighed in on the company. The Goldman Sachs Group raised 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. Needham & Company LLC raised their target price on Arcutis Biotherapeutics from $16.00 to $18.00 and gave the company a “buy” rating in a research note on Wednesday, May 15th. Finally, Mizuho raised their target price on Arcutis Biotherapeutics from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Wednesday, May 15th.

Check Out Our Latest Stock Analysis on Arcutis Biotherapeutics

Insider Buying and Selling

In related news, insider Patrick Burnett sold 23,000 shares of Arcutis Biotherapeutics stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $8.75, for a total value of $201,250.00. Following the completion of the transaction, the insider now directly owns 209,793 shares in the company, valued at $1,835,688.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Arcutis Biotherapeutics news, insider Patrick Burnett sold 23,000 shares of Arcutis Biotherapeutics stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $8.75, for a total value of $201,250.00. Following the completion of the transaction, the insider now directly owns 209,793 shares in the company, valued at $1,835,688.75. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Larry Todd Edwards sold 7,640 shares of the company’s stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $8.98, for a total value of $68,607.20. Following the transaction, the senior vice president now directly owns 140,360 shares of the company’s stock, valued at $1,260,432.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 32,415 shares of company stock worth $285,850. Corporate insiders own 9.50% of the company’s stock.

Hedge Funds Weigh In On Arcutis Biotherapeutics

Several institutional investors have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD grew its holdings in shares of Arcutis Biotherapeutics by 3.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 47,753 shares of the company’s stock valued at $474,000 after purchasing an additional 1,681 shares during the last quarter. 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 valued at $208,000 after purchasing an additional 1,870 shares during the last quarter. Ameritas Investment Partners Inc. grew its holdings in Arcutis Biotherapeutics by 55.2% in the 1st quarter. Ameritas Investment Partners Inc. now owns 7,871 shares of the company’s stock worth $78,000 after buying an additional 2,800 shares in the last quarter. Amalgamated Bank grew its holdings in Arcutis Biotherapeutics by 48.9% in the 4th quarter. Amalgamated Bank now owns 11,078 shares of the company’s stock worth $36,000 after buying an additional 3,639 shares in the last quarter. Finally, Deutsche Bank AG grew its holdings in Arcutis Biotherapeutics by 13.7% in the 3rd quarter. Deutsche Bank AG now owns 30,362 shares of the company’s stock worth $161,000 after buying an additional 3,655 shares in the last quarter.

Arcutis Biotherapeutics Trading Up 2.5 %

NASDAQ:ARQT opened at $8.49 on Wednesday. The business’s 50-day moving average is $8.61 and its two-hundred day moving average is $7.51. The company has a debt-to-equity ratio of 0.90, a current ratio of 9.89 and a quick ratio of 9.61. Arcutis Biotherapeutics has a 12 month low of $1.76 and a 12 month high of $13.17. The firm has a market capitalization of $982.80 million, a PE ratio of -2.90 and a beta of 1.17.

Arcutis Biotherapeutics (NASDAQ:ARQTGet Free Report) last announced its earnings results on Tuesday, May 14th. The company reported ($0.32) earnings per share for the quarter, beating the consensus estimate of ($0.60) by $0.28. The company had revenue of $49.57 million during the quarter. Arcutis Biotherapeutics had a negative return on equity of 197.28% and a negative net margin of 204.35%. During the same quarter in the prior year, the business earned ($1.31) earnings per share. Research analysts predict that Arcutis Biotherapeutics will post -1.6 earnings per share for the current fiscal year.

About Arcutis Biotherapeutics

(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.

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Analyst Recommendations for Arcutis Biotherapeutics (NASDAQ:ARQT)

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