Arcutis Biotherapeutics (NASDAQ:ARQT) Upgraded to Strong-Buy at Wall Street Zen

by · The Markets Daily

Wall Street Zen upgraded shares of Arcutis Biotherapeutics (NASDAQ:ARQT – Free Report) from a buy rating to a strong-buy rating in a research note published on Sunday.

Other research analysts have also recently issued reports about the stock. Mizuho increased their price target on shares of Arcutis Biotherapeutics from $32.00 to $37.00 and gave the company an “outperform” rating in a research report on Friday, November 28th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arcutis Biotherapeutics in a report on Monday, December 8th. Zacks Research raised shares of Arcutis Biotherapeutics from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 29th. Needham & Company LLC upped their price target on shares of Arcutis Biotherapeutics from $22.00 to $30.00 and gave the company a “buy” rating in a research report on Tuesday, October 28th. Finally, HC Wainwright reiterated a “buy” rating and issued a $30.00 price objective on shares of Arcutis Biotherapeutics in a report on Wednesday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $29.00.

View Our Latest Analysis on Arcutis Biotherapeutics

Arcutis Biotherapeutics Trading Down 1.5%

NASDAQ ARQT opened at $29.02 on Friday. The stock’s 50-day simple moving average is $25.27 and its two-hundred day simple moving average is $18.87. Arcutis Biotherapeutics has a twelve month low of $11.13 and a twelve month high of $31.77. The company has a quick ratio of 3.28, a current ratio of 3.50 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $3.55 billion, a price-to-earnings ratio of -80.61 and a beta of 1.69.

Arcutis Biotherapeutics (NASDAQ:ARQT – Get Free Report) last posted its quarterly earnings data on Tuesday, October 28th. The company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.16. The firm had revenue of $99.22 million during the quarter, compared to analysts’ expectations of $86.69 million. Arcutis Biotherapeutics had a negative return on equity of 29.69% and a negative net margin of 13.94%. Research analysts forecast that Arcutis Biotherapeutics will post -1.33 EPS for the current fiscal year.

Insider Activity

In other news, insider Patrick Burnett sold 17,250 shares of the stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $24.18, for a total transaction of $417,105.00. Following the completion of the sale, the insider directly owned 98,325 shares in the company, valued at approximately $2,377,498.50. This represents a 14.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Larry Todd Edwards sold 29,131 shares of the firm’s stock in a transaction dated Thursday, November 6th. The stock was sold at an average price of $25.16, for a total value of $732,935.96. Following the completion of the sale, the insider directly owned 150,193 shares in the company, valued at $3,778,855.88. The trade was a 16.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 327,729 shares of company stock valued at $8,305,217. 9.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Arcutis Biotherapeutics

A number of large investors have recently made changes to their positions in the business. Focus Partners Wealth raised its holdings in shares of Arcutis Biotherapeutics by 0.8% during the third quarter. Focus Partners Wealth now owns 65,196 shares of the company’s stock valued at $1,237,000 after acquiring an additional 490 shares in the last quarter. Arizona State Retirement System increased its position in Arcutis Biotherapeutics by 1.8% during the 3rd quarter. Arizona State Retirement System now owns 31,685 shares of the company’s stock valued at $597,000 after purchasing an additional 568 shares during the period. AlphaQuest LLC raised its holdings in Arcutis Biotherapeutics by 5.7% in the 3rd quarter. AlphaQuest LLC now owns 12,603 shares of the company’s stock worth $238,000 after purchasing an additional 682 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Arcutis Biotherapeutics by 10.2% in the 2nd quarter. PNC Financial Services Group Inc. now owns 8,828 shares of the company’s stock worth $124,000 after purchasing an additional 820 shares during the period. Finally, Creative Planning lifted its position in shares of Arcutis Biotherapeutics by 8.2% in the 2nd quarter. Creative Planning now owns 19,575 shares of the company’s stock worth $274,000 after purchasing an additional 1,477 shares during the period.

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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