BNP Paribas Financial Markets Has $20.32 Million Stock Holdings in Arcutis Biotherapeutics, Inc. $ARQT

BNP Paribas Financial Markets raised its holdings in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) by 1,416.5% in the fourth quarter, Holdings Channel.com reports. The fund owned 699,803 shares of the company’s stock after acquiring an additional 653,657 shares during the quarter. BNP Paribas Financial Markets’ holdings in Arcutis Biotherapeutics were worth $20,322,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in ARQT. Johnson Investment Counsel Inc. acquired a new stake in shares of Arcutis Biotherapeutics in the third quarter worth $30,000. SBI Securities Co. Ltd. lifted its stake in shares of Arcutis Biotherapeutics by 325.4% in the fourth quarter. SBI Securities Co. Ltd. now owns 1,089 shares of the company’s stock worth $32,000 after buying an additional 833 shares during the last quarter. Global Retirement Partners LLC acquired a new stake in shares of Arcutis Biotherapeutics in the fourth quarter worth $35,000. EverSource Wealth Advisors LLC lifted its stake in shares of Arcutis Biotherapeutics by 124.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,261 shares of the company’s stock worth $37,000 after buying an additional 698 shares during the last quarter. Finally, Jones Financial Companies Lllp lifted its stake in shares of Arcutis Biotherapeutics by 1,291.1% in the third quarter. Jones Financial Companies Lllp now owns 7,067 shares of the company’s stock worth $124,000 after buying an additional 6,559 shares during the last quarter.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on ARQT. Weiss Ratings restated a “sell (d-)” rating on shares of Arcutis Biotherapeutics in a research note on Friday, March 27th. TD Cowen boosted their price objective on shares of Arcutis Biotherapeutics from $30.00 to $35.00 and gave the stock a “buy” rating in a research note on Thursday, February 26th. Guggenheim boosted their price objective on shares of Arcutis Biotherapeutics from $34.00 to $35.00 and gave the stock a “buy” rating in a research note on Friday, February 27th. Mizuho reduced their price objective on shares of Arcutis Biotherapeutics from $37.00 to $35.00 and set an “outperform” rating for the company in a research note on Monday, March 2nd. Finally, Wall Street Zen cut shares of Arcutis Biotherapeutics from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Five investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.00.

Arcutis Biotherapeutics Price Performance

NASDAQ:ARQT opened at $21.23 on Friday. The stock has a market cap of $2.66 billion, a P/E ratio of -707.43 and a beta of 1.51. Arcutis Biotherapeutics, Inc. has a one year low of $12.72 and a one year high of $31.77. The company has a fifty day moving average price of $22.47 and a 200 day moving average price of $25.45. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.68 and a quick ratio of 2.46.

Arcutis Biotherapeutics (NASDAQ:ARQT) last released its earnings results on Wednesday, May 6th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.07). The company had revenue of $105.40 million for the quarter, compared to analyst estimates of $103.68 million. Arcutis Biotherapeutics had a negative net margin of 0.57% and a negative return on equity of 1.41%. Analysts anticipate that Arcutis Biotherapeutics, Inc. will post 0.15 earnings per share for the current year.

Insider Buying and Selling at Arcutis Biotherapeutics

In other Arcutis Biotherapeutics news, insider Todd Watanabe sold 3,172 shares of the business’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $23.61, for a total value of $74,890.92. Following the sale, the insider owned 720,755 shares of the company’s stock, valued at $17,017,025.55. The trade was a 0.44% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Howard G. Welgus sold 7,144 shares of the business’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $22.99, for a total transaction of $164,240.56. Following the completion of the sale, the director directly owned 32,600 shares in the company, valued at $749,474. This trade represents a 17.98% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 31,254 shares of company stock worth $732,019. Corporate insiders own 9.40% of the company’s stock.

Arcutis Biotherapeutics Company Profile

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.