Arcutis Biotherapeutics’ (ARQT) Buy Rating Reiterated at Guggenheim

Guggenheim reissued their buy rating on shares of Arcutis Biotherapeutics (NASDAQ:ARQT) in a research report sent to investors on Monday,Benzinga reports.

Other equities analysts have also issued research reports about the stock. Mizuho increased their target price on shares of Arcutis Biotherapeutics from $19.00 to $20.00 and gave the company an “outperform” rating in a research report on Tuesday, January 7th. Needham & Company LLC reaffirmed a “buy” rating and set a $18.00 price objective on shares of Arcutis Biotherapeutics in a research note on Thursday, November 7th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $19.00 price objective on shares of Arcutis Biotherapeutics in a research note on Monday, January 13th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Arcutis Biotherapeutics currently has an average rating of “Moderate Buy” and an average price target of $16.60.

Arcutis Biotherapeutics Price Performance

ARQT opened at $13.21 on Monday. The company has a 50 day moving average of $13.63 and a two-hundred day moving average of $11.18. Arcutis Biotherapeutics has a 52-week low of $6.05 and a 52-week high of $16.20. The company has a quick ratio of 2.38, a current ratio of 2.46 and a debt-to-equity ratio of 0.67. The company has a market cap of $1.55 billion, a P/E ratio of -7.38 and a beta of 1.29.

Insider Activity

In other Arcutis Biotherapeutics news, insider Masaru Matsuda sold 8,338 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $12.70, for a total value of $105,892.60. Following the completion of the transaction, the insider now directly owns 178,692 shares in the company, valued at approximately $2,269,388.40. This trade represents a 4.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Patrick Burnett sold 16,023 shares of the stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $10.14, for a total value of $162,473.22. Following the completion of the sale, the insider now directly owns 128,669 shares of the company’s stock, valued at approximately $1,304,703.66. The trade was a 11.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 72,927 shares of company stock worth $936,675 in the last 90 days. Corporate insiders own 9.50% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Point72 DIFC Ltd bought a new stake in shares of Arcutis Biotherapeutics during the 3rd quarter valued at $25,000. Venturi Wealth Management LLC bought a new position in shares of Arcutis Biotherapeutics during the 4th quarter valued at about $46,000. Cibc World Markets Corp purchased a new stake in Arcutis Biotherapeutics during the 4th quarter valued at about $140,000. Erste Asset Management GmbH purchased a new stake in Arcutis Biotherapeutics in the 3rd quarter worth approximately $104,000. Finally, LVW Advisors LLC purchased a new stake in Arcutis Biotherapeutics in the 4th quarter worth approximately $166,000.

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.