Insider Buying: Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Director Buys 1,890 Shares of Stock

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Director Patrick J. Heron bought 1,890 shares of the business’s stock in a transaction on Wednesday, June 4th. The shares were purchased at an average cost of $13.32 per share, with a total value of $25,174.80. Following the transaction, the director now owns 24,424 shares in the company, valued at approximately $325,327.68. The trade was a 8.39% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website.

Arcutis Biotherapeutics Stock Up 6.4%

Shares of ARQT opened at $14.37 on Friday. The company has a 50-day simple moving average of $14.02 and a 200-day simple moving average of $13.82. The firm has a market capitalization of $1.71 billion, a P/E ratio of -8.03 and a beta of 1.76. 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, Inc. has a 52 week low of $6.99 and a 52 week high of $17.75.

Arcutis Biotherapeutics (NASDAQ:ARQT) last announced its quarterly earnings data on Tuesday, May 6th. The company reported ($0.20) EPS for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.01. The business had revenue of $65.85 million during the quarter, compared to analyst estimates of $64.80 million. Arcutis Biotherapeutics had a negative net margin of 140.97% and a negative return on equity of 119.11%. On average, equities research analysts expect that Arcutis Biotherapeutics, Inc. will post -1.33 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on ARQT shares. Guggenheim reissued a “buy” rating on shares of Arcutis Biotherapeutics in a research report on Thursday, April 3rd. Mizuho boosted their target price on shares of Arcutis Biotherapeutics from $20.00 to $21.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 26th. Needham & Company LLC reaffirmed a “buy” rating and set a $20.00 price objective on shares of Arcutis Biotherapeutics in a research report on Friday, May 23rd. HC Wainwright reaffirmed a “buy” rating and set a $19.00 price objective on shares of Arcutis Biotherapeutics in a research report on Thursday, April 3rd. Finally, The Goldman Sachs Group upped their price objective on shares of Arcutis Biotherapeutics from $13.00 to $15.00 and gave the company a “neutral” rating in a research report on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Arcutis Biotherapeutics currently has an average rating of “Moderate Buy” and an average price target of $18.80.

Institutional Trading of Arcutis Biotherapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. GF Fund Management CO. LTD. bought a new stake in Arcutis Biotherapeutics in the fourth quarter valued at about $34,000. Venturi Wealth Management LLC bought a new stake in Arcutis Biotherapeutics in the fourth quarter valued at about $46,000. Amalgamated Bank increased its stake in Arcutis Biotherapeutics by 39.4% in the first quarter. Amalgamated Bank now owns 3,723 shares of the company’s stock valued at $58,000 after acquiring an additional 1,053 shares during the period. KBC Group NV bought a new stake in Arcutis Biotherapeutics in the first quarter valued at about $84,000. Finally, Nkcfo LLC bought a new stake in Arcutis Biotherapeutics in the first quarter valued at about $109,000.

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.