Arcutis Biotherapeutics (NASDAQ:ARQT) Trading 5.6% Higher – Should You Buy?

Shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) rose 5.6% on Tuesday . The company traded as high as $27.30 and last traded at $27.4070. Approximately 517,408 shares changed hands during mid-day trading, a decline of 70% from the average session volume of 1,744,782 shares. The stock had previously closed at $25.96.

Wall Street Analyst Weigh In

ARQT has been the topic of a number of recent analyst reports. Needham & Company LLC raised their price target on shares of Arcutis Biotherapeutics from $36.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Wall Street Zen raised shares of Arcutis Biotherapeutics from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 8th. Guggenheim increased their price objective on shares of Arcutis Biotherapeutics from $35.00 to $38.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Weiss Ratings cut shares of Arcutis Biotherapeutics from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, September 8th. Finally, Morgan Stanley upped their target price on Arcutis Biotherapeutics from $34.00 to $38.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. Six research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $35.57.

Arcutis Biotherapeutics Price Performance

The company has a current ratio of 2.92, a quick ratio of 2.67 and a debt-to-equity ratio of 0.46. The firm has a market cap of $3.43 billion, a PE ratio of 129.91 and a beta of 1.50. The business has a fifty day moving average of $25.84 and a 200-day moving average of $24.39.

Arcutis Biotherapeutics (NASDAQ:ARQT) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.05. The company had revenue of $129.86 million for the quarter, compared to analysts’ expectations of $118.85 million. Arcutis Biotherapeutics had a net margin of 6.15% and a return on equity of 15.05%. As a group, research analysts predict that Arcutis Biotherapeutics, Inc. will post 0.42 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Masaru Matsuda sold 9,989 shares of the company’s stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $25.03, for a total transaction of $250,024.67. Following the completion of the sale, the insider directly owned 116,182 shares in the company, valued at $2,908,035.46. This represents a 7.92% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Howard 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 completion of the sale, the director directly owned 36,475 shares in the company, valued at $954,915.50. The trade was a 11.48% 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. Insiders sold 79,225 shares of company stock valued at $2,015,966 over the last quarter. Company insiders own 9.40% of the company’s stock.

Institutional Investors Weigh In On Arcutis Biotherapeutics

Hedge funds have recently made changes to their positions in the company. EverSource Wealth Advisors LLC grew its position 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 buying an additional 698 shares during the period. Nykredit A S purchased a new position in shares of Arcutis Biotherapeutics in the second quarter worth $63,000. Integrated Wealth Concepts LLC purchased a new stake in shares of Arcutis Biotherapeutics during the 2nd quarter valued at about $84,000. KBC Group NV grew its position in Arcutis Biotherapeutics by 43.2% in the 1st quarter. KBC Group NV now owns 4,376 shares of the company’s stock worth $103,000 after purchasing an additional 1,321 shares during the period. Finally, Independent Financial Group LLC purchased a new stake in Arcutis Biotherapeutics during the first quarter valued at $210,000.

About Arcutis Biotherapeutics

Arcutis Biotherapeutics, Inc is a biopharmaceutical company focused on developing and commercializing treatments for immune-mediated dermatological conditions. The company’s research and development activities are centered on therapies intended to address significant unmet needs in inflammatory skin diseases.

Arcutis’s primary commercial product is ZORYVE (roflumilast), a topical, nonsteroidal phosphodiesterase-4 inhibitor. The product is available in multiple formulations and strengths for certain patients with plaque psoriasis, seborrheic dermatitis and atopic dermatitis.