Arcutis Biotherapeutics (NASDAQ:ARQT) Downgraded to “Buy” Rating by Wall Street Zen

Wall Street Zen cut shares of Arcutis Biotherapeutics (NASDAQ:ARQT) from a strong-buy rating to a buy rating in a research note published on Friday morning.

ARQT has been the topic of a number of other research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Arcutis Biotherapeutics in a report on Monday, December 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. Zacks Research cut Arcutis Biotherapeutics from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 29th. The Goldman Sachs Group increased their price target on Arcutis Biotherapeutics from $19.00 to $29.00 and gave the stock a “neutral” rating in a research note on Thursday, October 30th. Finally, Mizuho boosted their price objective on Arcutis Biotherapeutics from $32.00 to $37.00 and gave the company an “outperform” rating in a research report on Friday, November 28th. Six analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $29.00.

Arcutis Biotherapeutics Price Performance

Shares of NASDAQ:ARQT opened at $26.20 on Friday. The company has a 50-day moving average price of $28.70 and a two-hundred day moving average price of $21.78. 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 firm has a market capitalization of $3.21 billion, a PE ratio of -72.78 and a beta of 1.71.

Arcutis Biotherapeutics (NASDAQ:ARQT) last released its quarterly earnings data on Tuesday, October 28th. The company reported $0.06 EPS for the quarter, topping the consensus estimate of ($0.10) by $0.16. Arcutis Biotherapeutics had a negative net margin of 13.94% and a negative return on equity of 29.69%. The company had revenue of $99.22 million during the quarter, compared to the consensus estimate of $86.69 million. Equities analysts forecast that Arcutis Biotherapeutics will post -1.33 EPS for the current year.

Insider Activity

In other news, insider Masaru Matsuda sold 1,657 shares of the business’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 sale, the insider owned 150,641 shares in the company, valued at approximately $4,553,877.43. The trade was a 1.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Sue-Jean Lin sold 25,272 shares of the stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $30.78, for a total transaction of $777,872.16. Following the sale, the director directly owned 26,735 shares of the company’s stock, valued at approximately $822,903.30. The trade was a 48.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 293,912 shares of company stock valued at $7,885,305. Insiders own 9.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in ARQT. Whalen Wealth Management Inc. acquired a new position in Arcutis Biotherapeutics in the 4th quarter worth approximately $233,000. Ellsworth Advisors LLC acquired a new stake in shares of Arcutis Biotherapeutics during the 4th quarter valued at about $868,000. Zevenbergen Capital Investments LLC purchased a new position in shares of Arcutis Biotherapeutics in the 4th quarter valued at about $12,140,000. LVW Advisors LLC grew its stake in Arcutis Biotherapeutics by 7.4% in the 4th quarter. LVW Advisors LLC now owns 22,189 shares of the company’s stock valued at $644,000 after acquiring an additional 1,535 shares during the period. Finally, Silverleafe Capital Partners LLC increased its holdings in Arcutis Biotherapeutics by 278.8% in the 4th quarter. Silverleafe Capital Partners LLC now owns 62,994 shares of the company’s stock worth $1,829,000 after acquiring an additional 46,366 shares in the last quarter.

About Arcutis Biotherapeutics

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.