Arcutis Biotherapeutics (NASDAQ:ARQT) Price Target Raised to $19.00 at Jefferies Financial Group

Arcutis Biotherapeutics (NASDAQ:ARQT) had its target price increased by investment analysts at Jefferies Financial Group from $16.00 to $19.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Jefferies Financial Group’s price objective indicates a potential upside of 23.91% from the stock’s previous close.

Several other equities research analysts have also recently weighed in on the company. Mizuho increased their price objective on Arcutis Biotherapeutics from $20.00 to $21.00 and gave the stock an “outperform” rating in a report on Wednesday, February 26th. Guggenheim restated a “buy” rating on shares of Arcutis Biotherapeutics in a report on Monday, February 24th. The Goldman Sachs Group increased their target price on Arcutis Biotherapeutics from $13.00 to $15.00 and gave the stock a “neutral” rating in a research report on Thursday, February 27th. Needham & Company LLC restated a “buy” rating and set a $20.00 price target on shares of Arcutis Biotherapeutics in a research report on Wednesday, February 26th. Finally, HC Wainwright reiterated a “buy” rating and issued a $19.00 price objective on shares of Arcutis Biotherapeutics in a report on Wednesday, February 26th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Arcutis Biotherapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $18.80.

Arcutis Biotherapeutics Trading Up 6.6 %

NASDAQ:ARQT traded up $0.95 during trading hours on Tuesday, reaching $15.33. The company’s stock had a trading volume of 1,602,468 shares, compared to its average volume of 2,207,693. The firm has a 50-day simple moving average of $13.45 and a 200-day simple moving average of $11.72. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.38 and a current ratio of 2.46. Arcutis Biotherapeutics has a 1 year low of $6.99 and a 1 year high of $16.20. The firm has a market capitalization of $1.82 billion, a price-to-earnings ratio of -8.48 and a beta of 1.48.

Arcutis Biotherapeutics (NASDAQ:ARQT) last released its quarterly earnings data on Tuesday, February 25th. The company reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.19. The firm had revenue of $71.36 million during the quarter, compared to analyst estimates of $60.52 million. Arcutis Biotherapeutics had a negative return on equity of 119.11% and a negative net margin of 140.97%. Research analysts expect that Arcutis Biotherapeutics will post -1.33 EPS for the current fiscal year.

Insider Buying and Selling at Arcutis Biotherapeutics

In related news, insider Masaru Matsuda sold 8,338 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $12.70, for a total value of $105,892.60. Following the transaction, the insider now owns 178,692 shares of the company’s stock, valued at approximately $2,269,388.40. This trade represents a 4.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Todd Franklin Watanabe sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $15.17, for a total transaction of $227,550.00. Following the sale, the insider now directly owns 823,430 shares of the company’s stock, valued at approximately $12,491,433.10. This represents a 1.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 57,848 shares of company stock worth $797,648. Insiders own 9.50% of the company’s stock.

Hedge Funds Weigh In On Arcutis Biotherapeutics

Several institutional investors and hedge funds have recently bought and sold shares of ARQT. GF Fund Management CO. LTD. bought a new position in shares of Arcutis Biotherapeutics during the 4th quarter valued at approximately $34,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Arcutis Biotherapeutics by 1.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 280,100 shares of the company’s stock worth $3,902,000 after buying an additional 3,409 shares during the period. Voloridge Investment Management LLC increased its stake in Arcutis Biotherapeutics by 126.5% in the 4th quarter. Voloridge Investment Management LLC now owns 290,938 shares of the company’s stock worth $4,053,000 after buying an additional 162,495 shares in the last quarter. Squarepoint Ops LLC raised its holdings in Arcutis Biotherapeutics by 67.2% during the fourth quarter. Squarepoint Ops LLC now owns 121,392 shares of the company’s stock valued at $1,691,000 after acquiring an additional 48,769 shares during the period. Finally, Suvretta Capital Management LLC raised its holdings in Arcutis Biotherapeutics by 6.3% during the fourth quarter. Suvretta Capital Management LLC now owns 11,399,138 shares of the company’s stock valued at $158,790,000 after acquiring an additional 677,627 shares during the period.

Arcutis Biotherapeutics Company Profile

Arcutis Biotherapeutics, Inc, a biopharmaceutical company, focuses on developing and commercializing 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.