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

Shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) have been assigned an average recommendation of “Moderate Buy” from the nine ratings firms that are covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $35.5714.

ARQT has been the topic of a number of recent analyst reports. Needham & Company LLC lifted their price target on Arcutis Biotherapeutics from $36.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Guggenheim upped their price objective on Arcutis Biotherapeutics from $35.00 to $38.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Morgan Stanley raised their target price on Arcutis Biotherapeutics from $34.00 to $38.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. Weiss Ratings raised shares of Arcutis Biotherapeutics from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, August 20th. Finally, Wall Street Zen upgraded shares of Arcutis Biotherapeutics from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 8th.

Arcutis Biotherapeutics Stock Performance

NASDAQ ARQT opened at $23.90 on Tuesday. The company has a market cap of $3.00 billion, a price-to-earnings ratio of 113.81 and a beta of 1.50. Arcutis Biotherapeutics has a 52 week low of $16.21 and a 52 week high of $31.77. The business has a 50 day moving average price of $26.29 and a 200-day moving average price of $24.51. The company has a quick ratio of 2.67, a current ratio of 2.92 and a debt-to-equity ratio of 0.46.

Arcutis Biotherapeutics (NASDAQ:ARQT) last posted its earnings results on Wednesday, August 5th. The company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.06 by $0.05. Arcutis Biotherapeutics had a net margin of 6.15% and a return on equity of 15.05%. The company had revenue of $129.86 million during the quarter, compared to the consensus estimate of $118.85 million. As a group, equities analysts expect that Arcutis Biotherapeutics will post 0.4 earnings per share for the current fiscal year.

Insider Buying and Selling at Arcutis Biotherapeutics

In other Arcutis Biotherapeutics news, Director Terrie Curran sold 38,200 shares of the firm’s stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $25.03, for a total value of $956,146.00. Following the completion of the transaction, the director owned 23,526 shares in the company, valued at $588,855.78. This trade represents a 61.89% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Todd Watanabe sold 4,375 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $26.12, for a total transaction of $114,275.00. Following the completion of the transaction, the insider owned 717,203 shares of the company’s stock, valued at $18,733,342.36. This trade represents a 0.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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. Over the last 90 days, insiders sold 75,239 shares of company stock valued at $1,910,959. Insiders own 9.40% of the company’s stock.

Institutional Investors Weigh In On Arcutis Biotherapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. AQR Capital Management LLC raised its stake in shares of Arcutis Biotherapeutics by 21.4% during the first quarter. AQR Capital Management LLC now owns 248,196 shares of the company’s stock worth $3,882,000 after acquiring an additional 43,716 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Arcutis Biotherapeutics by 3.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 71,417 shares of the company’s stock valued at $1,118,000 after purchasing an additional 2,063 shares in the last quarter. Creative Planning boosted its stake in shares of Arcutis Biotherapeutics by 8.2% in the 2nd quarter. Creative Planning now owns 19,575 shares of the company’s stock valued at $274,000 after purchasing an additional 1,477 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Arcutis Biotherapeutics by 1.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 548,789 shares of the company’s stock valued at $7,694,000 after purchasing an additional 5,407 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its position in Arcutis Biotherapeutics by 4,562.5% in the 2nd quarter. Russell Investments Group Ltd. now owns 11,190 shares of the company’s stock worth $157,000 after purchasing an additional 10,950 shares during the period.

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.