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

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) has been given a consensus recommendation of “Moderate Buy” by the nine analysts that are currently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $29.20.

ARQT has been the topic of several analyst reports. Wall Street Zen downgraded Arcutis Biotherapeutics from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 14th. Zacks Research downgraded shares of Arcutis Biotherapeutics from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 29th. Mizuho boosted their target price 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. Weiss Ratings restated a “sell (d-)” rating on shares of Arcutis Biotherapeutics in a research note on Monday, December 29th. Finally, Needham & Company LLC lifted their price target on shares of Arcutis Biotherapeutics from $30.00 to $31.00 and gave the stock a “buy” rating in a research note on Monday, January 26th.

Insider Buying and Selling at Arcutis Biotherapeutics

In related news, insider Patrick Burnett sold 9,794 shares of the stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $25.81, for a total value of $252,783.14. Following the completion of the transaction, the insider owned 80,651 shares of the company’s stock, valued at approximately $2,081,602.31. This represents a 10.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Todd Watanabe sold 19,833 shares of the firm’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $25.50, for a total value of $505,741.50. Following the sale, the insider owned 721,306 shares of the company’s stock, valued at approximately $18,393,303. This trade represents a 2.68% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 198,873 shares of company stock valued at $5,576,208. Company insiders own 9.40% of the company’s stock.

Institutional Trading of Arcutis Biotherapeutics

Several institutional investors have recently added to or reduced their stakes in ARQT. Focus Partners Wealth lifted its holdings in Arcutis Biotherapeutics by 0.8% in the third quarter. Focus Partners Wealth now owns 65,196 shares of the company’s stock worth $1,237,000 after purchasing an additional 490 shares during the period. Arizona State Retirement System increased its stake in Arcutis Biotherapeutics by 1.8% during the 3rd quarter. Arizona State Retirement System now owns 31,685 shares of the company’s stock valued at $597,000 after buying an additional 568 shares during the period. Schroder Investment Management Group raised its position in shares of Arcutis Biotherapeutics by 1.1% during the 4th quarter. Schroder Investment Management Group now owns 57,136 shares of the company’s stock worth $1,604,000 after buying an additional 594 shares in the last quarter. AlphaQuest LLC raised its position in shares of Arcutis Biotherapeutics by 5.7% during the 3rd quarter. AlphaQuest LLC now owns 12,603 shares of the company’s stock worth $238,000 after buying an additional 682 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of Arcutis Biotherapeutics by 124.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,261 shares of the company’s stock worth $37,000 after acquiring an additional 698 shares during the period.

Arcutis Biotherapeutics Trading Up 4.6%

NASDAQ:ARQT opened at $27.95 on Friday. The business’s 50-day moving average is $27.42 and its two-hundred day moving average is $23.29. The firm has a market capitalization of $3.42 billion, a PE ratio of -77.64 and a beta of 1.70. Arcutis Biotherapeutics has a 12 month low of $11.75 and a 12 month high of $31.77. The company has a debt-to-equity ratio of 0.68, a current ratio of 3.50 and a quick ratio of 3.28.

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.