Arcutis Biotherapeutics (NASDAQ:ARQT) Stock Price Expected to Rise, Mizuho Analyst Says

by · The Cerbat Gem

Arcutis Biotherapeutics (NASDAQ:ARQT – Get Free Report) had its price target raised by investment analysts at Mizuho from $19.00 to $20.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Mizuho’s price target points to a potential upside of 28.12% from the company’s previous close.

ARQT has been the subject of a number of other research reports. Needham & Company LLC reissued a “buy” rating and issued a $18.00 price objective on shares of Arcutis Biotherapeutics in a research report on Thursday, November 7th. HC Wainwright assumed coverage on Arcutis Biotherapeutics in a report on Monday, December 30th. They issued a “buy” rating and a $19.00 price target for the company. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Arcutis Biotherapeutics presently has an average rating of “Moderate Buy” and an average target price of $16.60.

Read Our Latest Analysis on Arcutis Biotherapeutics

Arcutis Biotherapeutics Stock Up 6.1 %

Shares of ARQT traded up $0.90 during trading hours on Tuesday, hitting $15.61. The company had a trading volume of 1,102,238 shares, compared to its average volume of 1,592,111. The company has a current ratio of 2.46, a quick ratio of 2.38 and a debt-to-equity ratio of 0.67. The company has a market capitalization of $1.83 billion, a PE ratio of -8.72 and a beta of 1.30. Arcutis Biotherapeutics has a one year low of $3.11 and a one year high of $16.20. The company’s fifty day moving average price is $11.98 and its two-hundred day moving average price is $10.51.

Arcutis Biotherapeutics (NASDAQ:ARQT – Get Free Report) last announced its earnings results on Wednesday, November 6th. The company reported ($0.33) EPS for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.09. Arcutis Biotherapeutics had a negative net margin of 140.97% and a negative return on equity of 119.11%. The business had revenue of $44.76 million during the quarter, compared to the consensus estimate of $38.05 million. As a group, equities analysts forecast that Arcutis Biotherapeutics will post -1.34 earnings per share for the current fiscal year.

Insider Transactions at Arcutis Biotherapeutics

In other Arcutis Biotherapeutics news, Director Howard G. Welgus sold 10,000 shares of Arcutis Biotherapeutics stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $8.65, for a total transaction of $86,500.00. Following the completion of the sale, the director now directly owns 171,944 shares in the company, valued at approximately $1,487,315.60. The trade was a 5.50 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Masaru Matsuda sold 5,015 shares of the stock in a transaction on Monday, November 4th. The stock was sold at an average price of $8.68, for a total transaction of $43,530.20. Following the completion of the sale, the insider now owns 178,273 shares in the company, valued at $1,547,409.64. The trade was a 2.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 78,291 shares of company stock worth $927,966 over the last three months. 9.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp increased its holdings in Arcutis Biotherapeutics by 25.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 390,202 shares of the company’s stock worth $3,629,000 after acquiring an additional 80,078 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Arcutis Biotherapeutics during the second quarter worth about $174,000. Rhumbline Advisers raised its position in shares of Arcutis Biotherapeutics by 33.5% during the 2nd quarter. Rhumbline Advisers now owns 167,289 shares of the company’s stock worth $1,556,000 after purchasing an additional 41,956 shares during the last quarter. Arizona State Retirement System purchased a new position in Arcutis Biotherapeutics in the 2nd quarter valued at about $269,000. Finally, Acadian Asset Management LLC acquired a new stake in Arcutis Biotherapeutics in the 2nd quarter worth about $1,487,000.

Arcutis Biotherapeutics Company Profile

(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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