Analysts Set Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) PT at $35.57

Shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) have been assigned an average recommendation of “Moderate Buy” from the nine analysts that are currently covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $35.5714.

A number of analysts have recently issued reports on the company. Wall Street Zen upgraded Arcutis Biotherapeutics from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 8th. Guggenheim lifted their price target on shares of Arcutis Biotherapeutics from $35.00 to $38.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Needham & Company LLC boosted their price objective on shares of Arcutis Biotherapeutics from $36.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Morgan Stanley increased their price objective on shares of Arcutis Biotherapeutics from $34.00 to $38.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Finally, Weiss Ratings raised shares of Arcutis Biotherapeutics from a “sell (d-)” rating to a “hold (c-)” rating in a research note on Thursday, August 6th.

Insider Transactions at Arcutis Biotherapeutics

In other Arcutis Biotherapeutics news, Director Howard G. Welgus sold 4,730 shares of the firm’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $26.18, for a total value of $123,831.40. Following the transaction, the director directly owned 36,475 shares of the company’s stock, valued at $954,915.50. This trade represents a 11.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Patrick Burnett sold 6,700 shares of the business’s stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $26.08, for a total value of $174,736.00. Following the transaction, the insider owned 119,289 shares in the company, valued at approximately $3,111,057.12. This represents a 5.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 35,967 shares of company stock worth $926,898 in the last quarter. 9.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Arcutis Biotherapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of ARQT. SBI Securities Co. Ltd. raised its stake in shares of Arcutis Biotherapeutics by 325.4% during the fourth quarter. SBI Securities Co. Ltd. now owns 1,089 shares of the company’s stock valued at $32,000 after purchasing an additional 833 shares during the period. Global Retirement Partners LLC acquired a new position in shares of Arcutis Biotherapeutics during the fourth quarter worth $35,000. EverSource Wealth Advisors LLC boosted 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 valued at $37,000 after purchasing an additional 698 shares during the period. NewEdge Advisors LLC boosted its stake in shares of Arcutis Biotherapeutics by 209.0% in the fourth quarter. NewEdge Advisors LLC now owns 1,545 shares of the company’s stock valued at $45,000 after purchasing an additional 1,045 shares during the period. Finally, Truvestments Capital LLC grew its holdings in Arcutis Biotherapeutics by 114.2% during the 4th quarter. Truvestments Capital LLC now owns 3,012 shares of the company’s stock valued at $87,000 after purchasing an additional 1,606 shares in the last quarter.

Arcutis Biotherapeutics Trading Down 4.2%

ARQT stock opened at $25.35 on Friday. The company has a quick ratio of 2.67, a current ratio of 2.92 and a debt-to-equity ratio of 0.46. The company has a market cap of $3.19 billion, a price-to-earnings ratio of 120.72 and a beta of 1.49. The business has a fifty day simple moving average of $26.76 and a 200-day simple moving average of $24.68. Arcutis Biotherapeutics has a 52 week low of $15.10 and a 52 week high of $31.77.

Arcutis Biotherapeutics (NASDAQ:ARQT) last issued its earnings results on Wednesday, August 5th. The company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.05. The firm had revenue of $129.86 million for the quarter, compared to analysts’ expectations of $118.85 million. Arcutis Biotherapeutics had a return on equity of 15.05% and a net margin of 6.15%. On average, equities research analysts expect that Arcutis Biotherapeutics will post 0.4 EPS for the current year.

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.