Arcutis Biotherapeutics’ (ARQT) Buy Rating Reaffirmed at Needham & Company LLC

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

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

Arcutis Biotherapeutics Stock Up 4.0 %

Shares of ARQT stock traded up $0.42 during trading hours on Thursday, hitting $10.82. 4,021,494 shares of the company’s stock traded hands, compared to its average volume of 3,260,974. 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 has a 12-month low of $1.76 and a 12-month high of $13.17. The stock has a market cap of $1.26 billion, a price-to-earnings ratio of -4.75 and a beta of 1.18. The stock’s fifty day simple moving average is $9.67 and its two-hundred day simple moving average is $9.30.

Arcutis Biotherapeutics (NASDAQ:ARQT) last announced its earnings results on Wednesday, November 6th. The company reported ($0.33) earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $38.05 million. On average, analysts expect that Arcutis Biotherapeutics will post -1.6 EPS for the current year.

Insider Buying and Selling at Arcutis Biotherapeutics

In related news, Director Howard G. Welgus sold 10,000 shares of Arcutis Biotherapeutics 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 sale, the director now owns 191,944 shares in the company, valued at $2,067,236.88. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, SVP Larry Todd Edwards sold 3,725 shares of the business’s stock in a transaction on Wednesday, October 2nd. The stock was 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 directly owns 136,635 shares of the company’s stock, valued at approximately $1,367,716.35. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Howard G. Welgus sold 10,000 shares of Arcutis Biotherapeutics stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $10.77, for a total value of $107,700.00. Following the sale, the director now directly owns 191,944 shares of the company’s stock, valued at $2,067,236.88. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 52,094 shares of company stock valued at $492,157 in the last quarter. 9.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Arcutis Biotherapeutics

Several large investors have recently made changes to their positions in ARQT. Victory Capital Management Inc. increased its holdings in shares of Arcutis Biotherapeutics by 9.9% in the 3rd quarter. Victory Capital Management Inc. now owns 12,843 shares of the company’s stock valued at $119,000 after acquiring an additional 1,155 shares during the period. Price T Rowe Associates Inc. MD grew its stake 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 acquiring an additional 1,681 shares in the last quarter. ProShare Advisors LLC raised its stake in shares of Arcutis Biotherapeutics by 9.8% in the 1st 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 in the last quarter. Ameritas Investment Partners Inc. increased its stake in Arcutis Biotherapeutics by 55.2% during the first quarter. Ameritas Investment Partners Inc. now owns 7,871 shares of the company’s stock valued at $78,000 after purchasing an additional 2,800 shares during the last quarter. Finally, CWM LLC raised its position in shares of Arcutis Biotherapeutics by 6,740.0% during the 2nd quarter. CWM LLC now owns 4,104 shares of the company’s stock worth $38,000 after purchasing an additional 4,044 shares during the period.

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.