Brokerages Set Price Target for Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) at $13.33

Shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT – Get Your Free Report ) has been assigned an average recommendation of “Moderate Buy” from the seven brokerages that are presently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $13.33.

ARQT has been the subject of several research analyst reports. Jefferies Financial Group began coverage on shares of Arcutis Biotherapeutics in a research report on Wednesday, August 28th. They set a “buy” rating and a $15.00 price target on the stock. Needham & Company LLC restated a “buy” rating and set a $18.00 price objective on shares of Arcutis Biotherapeutics in a research note on Thursday, August 15th.

Check out our latest review of Arcutis Biotherapeutics

Insiders place their bets

In related news, insider Masaru Matsuda sold 5,220 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $9.02, for a total transaction of $47,084.40. Following the completion of the transaction, the insider now owns 183,288 shares in the company, valued at approximately $1,653,257.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available on the SEC’s website. In related news, insider Masaru Matsuda sold 5,220 shares of Arcutis Biotherapeutics stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $9.02, for a total value of $47,084.40. Following the sale, the insider now directly owns 183,288 shares in the company, valued at approximately $1,653,257.76. The sale was disclosed in a legal filing with the SEC, which is available on the SEC’s website. Also, CFO David Joseph Topper sold 11,626 shares of the business’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $9.48, for a total transaction of $110,214.48. Following the transaction, the chief financial officer now directly owns 158,374 shares of the company’s stock, valued at $1,501,385.52. The disclosure for this sale can be found here. Insiders sold 38,574 shares of company stock worth $378,024 in the last quarter. Insiders own 9.50% of the company’s shares.

Hedge funds weigh Arcutis Biotherapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Jennison Associates LLC boosted its position in Arcutis Biotherapeutics by 34.3% in the first quarter. Jennison Associates LLC now owns 12,176,315 shares of the company’s stock worth $120,667,000 after acquiring an additional 3,110,233 shares during the period. Vestal Point Capital LP purchased a new stake in Arcutis Biotherapeutics in the fourth quarter valued at about $8,721,000. Rubric Capital Management LP raised its position in Arcutis Biotherapeutics by 30.7% in the 2nd quarter. Rubric Capital Management LP now owns 9,816,672 shares of the company’s stock valued at $91,295,000 after buying an additional 2,306,672 shares. of shares in the last quarter. Opaleye Management Inc. purchased a new position in Arcutis Biotherapeutics during the 4th quarter valued at about $6,331,000. Finally, Farallon Capital Management LLC bought a new stake in shares of Arcutis Biotherapeutics in the first quarter worth about $17,640,000.

Arcutis Biotherapeutics stock performance

Shares of Arcutis Biotherapeutics opened at $9.36 on Friday. Arcutis Biotherapeutics has a 52-week low of $1.76 and a 52-week high of $13.17. The company has a current ratio of 8.46, a quick ratio of 8.19, and a debt-to-equity ratio of 1.09. The stock has a market cap of $1.08 billion, a P/E ratio of -3.19 and a beta of 1.18. The stock has a 50-day moving average of $9.83 and a 200-day moving average of $9.51.

Arcutis Biotherapeutics (NASDAQ:ARQT – Get Free Report ) last posted its quarterly earnings results on Wednesday, August 14th. The company reported ($0.42) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.48) by $0.06. The firm had revenue of $30.86 million for the quarter, compared to analysts’ expectations of $31.00 million. Arcutis Biotherapeutics had a negative net margin of 150.51% and a negative return on equity of 145.41%. In the same period last year, the company posted ($1.16) earnings per share. On average, analysts expect that Arcutis Biotherapeutics will post -1.56 EPS for the current fiscal year.

About Arcutis Biotherapeutics

(Get a free report

Arcutis Biotherapeutics, Inc, a biopharmaceutical company, focuses on the development and commercialization of treatments for dermatological diseases. Its lead product candidate is ARQ-151, a topical roflumilast cream that has completed Phase III clinical trials for the treatment of plaque psoriasis and atopic dermatitis.

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