Arcutis Biotherapeutics (NASDAQ:ARQT) Trading 7% Higher – Still a Buy?

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) shares traded up 7% during trading on Thursday . The company traded as high as $14.95 and last traded at $14.91. 322,067 shares changed hands during trading, a decline of 90% from the average session volume of 3,100,606 shares. The stock had previously closed at $13.93.

Wall Street Analyst Weigh In

ARQT has been the topic of a number of recent analyst reports. HC Wainwright assumed coverage on Arcutis Biotherapeutics in a report on Monday, December 30th. They set a “buy” rating and a $19.00 price target on the stock. Needham & Company LLC reissued a “buy” rating and issued a $18.00 price target on shares of Arcutis Biotherapeutics in a report on Thursday, November 7th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $16.20.

Arcutis Biotherapeutics Stock Up 0.4 %

The firm has a market capitalization of $1.71 billion, a PE ratio of -8.17 and a beta of 1.32. The stock has a 50-day simple moving average of $11.86 and a 200-day simple moving average of $10.44. The company has a quick ratio of 2.38, a current ratio of 2.46 and a debt-to-equity ratio of 0.67.

Arcutis Biotherapeutics (NASDAQ:ARQT) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.33) earnings per share for the quarter, topping the consensus estimate of ($0.42) by $0.09. The company had revenue of $44.76 million during the quarter, compared to analyst estimates of $38.05 million. Arcutis Biotherapeutics had a negative return on equity of 119.11% and a negative net margin of 140.97%. Analysts forecast that Arcutis Biotherapeutics, Inc. will post -1.34 EPS for the current year.

Insider Activity

In other Arcutis Biotherapeutics news, Director Howard G. Welgus sold 10,000 shares of Arcutis Biotherapeutics stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $8.65, for a total transaction of $86,500.00. Following the completion of the transaction, the director now owns 171,944 shares of the company’s stock, valued at $1,487,315.60. The trade was a 5.50 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Todd Franklin Watanabe sold 15,000 shares of the stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $15.17, for a total transaction of $227,550.00. Following the completion of the sale, the insider now directly owns 823,430 shares in the company, valued at approximately $12,491,433.10. The trade was a 1.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 68,291 shares of company stock valued at $781,266 over the last quarter. Company insiders own 9.50% of the company’s stock.

Institutional Trading of Arcutis Biotherapeutics

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

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.