Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Given Consensus Rating of “Moderate Buy” by Brokerages

by · The Cerbat Gem

Shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT – Get Free Report) have been assigned a consensus recommendation of “Moderate Buy” from the nine research firms that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $29.00.

A number of brokerages have recently weighed in on ARQT. The Goldman Sachs Group raised their target price on Arcutis Biotherapeutics from $19.00 to $29.00 and gave the company a “neutral” rating in a research note on Thursday, October 30th. Needham & Company LLC raised their price objective 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. Zacks Research lowered shares of Arcutis Biotherapeutics from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 29th. Wall Street Zen raised shares of Arcutis Biotherapeutics from a “buy” rating to a “strong-buy” rating in a research note on Sunday. Finally, Mizuho boosted their price objective on shares of Arcutis Biotherapeutics from $32.00 to $37.00 and gave the stock an “outperform” rating in a research report on Friday, November 28th.

Get Our Latest Stock Analysis on Arcutis Biotherapeutics

Insider Activity at Arcutis Biotherapeutics

In other news, insider Patrick Burnett sold 1,697 shares of the company’s stock in a transaction on Wednesday, December 31st. The stock was sold at an average price of $29.20, for a total transaction of $49,552.40. Following the transaction, the insider owned 96,610 shares of the company’s stock, valued at $2,821,012. This represents a 1.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Masaru Matsuda sold 1,657 shares of the firm’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $30.23, for a total value of $50,091.11. Following the completion of the transaction, the insider owned 150,641 shares in the company, valued at approximately $4,553,877.43. This represents a 1.09% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 281,422 shares of company stock valued at $7,523,545 over the last quarter. 9.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Arcutis Biotherapeutics

Several institutional investors have recently modified their holdings of ARQT. Jennison Associates LLC grew its holdings in Arcutis Biotherapeutics by 10.3% during the 3rd quarter. Jennison Associates LLC now owns 12,254,119 shares of the company’s stock worth $230,990,000 after acquiring an additional 1,144,714 shares during the period. Frazier Life Sciences Management L.P. boosted its position in shares of Arcutis Biotherapeutics by 12.4% in the 2nd quarter. Frazier Life Sciences Management L.P. now owns 9,874,511 shares of the company’s stock worth $138,441,000 after purchasing an additional 1,089,227 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Arcutis Biotherapeutics by 1.4% in the 3rd quarter. Vanguard Group Inc. now owns 7,146,090 shares of the company’s stock worth $134,704,000 after purchasing an additional 96,991 shares during the last quarter. Polar Capital Holdings Plc grew its stake in shares of Arcutis Biotherapeutics by 5.8% during the third quarter. Polar Capital Holdings Plc now owns 5,298,754 shares of the company’s stock worth $99,882,000 after purchasing an additional 292,279 shares during the period. Finally, State Street Corp increased its holdings in Arcutis Biotherapeutics by 1.2% in the second quarter. State Street Corp now owns 4,526,937 shares of the company’s stock valued at $63,468,000 after purchasing an additional 52,734 shares during the last quarter.

Arcutis Biotherapeutics Stock Performance

NASDAQ:ARQT opened at $30.20 on Thursday. The stock has a market capitalization of $3.70 billion, a P/E ratio of -83.89 and a beta of 1.71. The company has a current ratio of 3.50, a quick ratio of 3.28 and a debt-to-equity ratio of 0.68. Arcutis Biotherapeutics has a 1 year low of $11.13 and a 1 year high of $31.77. The firm has a 50 day moving average of $27.94 and a 200-day moving average of $20.59.

Arcutis Biotherapeutics (NASDAQ:ARQT – Get Free Report) last released its quarterly earnings results on Tuesday, October 28th. The company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.16. Arcutis Biotherapeutics had a negative return on equity of 29.69% and a negative net margin of 13.94%.The business had revenue of $99.22 million for the quarter, compared to analyst estimates of $86.69 million. As a group, sell-side analysts anticipate that Arcutis Biotherapeutics will post -1.33 EPS for the current fiscal year.

Arcutis Biotherapeutics Company Profile

(Get Free Report)

Arcutis Biotherapeutics is a clinical-stage biopharmaceutical company focused on developing and commercializing innovative therapies for immuno-inflammatory skin diseases. The company’s research and development efforts center on targeted treatments that address the underlying biology of conditions such as plaque psoriasis, atopic dermatitis, seborrheic dermatitis and vitiligo. Arcutis employs a precision-medicine approach to deliver topical therapies designed to improve efficacy and tolerability compared with existing treatment options.

In August 2022, Arcutis received U.S.

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