Arcutis Biotherapeutics (NASDAQ:ARQT) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Arcutis Biotherapeutics (NASDAQ:ARQT) from a buy rating to a strong-buy rating in a report issued on Saturday.

A number of other analysts have also recently commented on ARQT. Morgan Stanley boosted their price target on Arcutis Biotherapeutics from $34.00 to $38.00 and gave the stock an “overweight” rating in a research report on Thursday. Weiss Ratings upgraded Arcutis Biotherapeutics from a “sell (d-)” rating to a “hold (c-)” rating in a research note on Thursday. Needham & Company LLC boosted their target price on Arcutis Biotherapeutics from $36.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Finally, Guggenheim boosted their target price on Arcutis Biotherapeutics from $35.00 to $38.00 and gave the stock a “buy” rating in a report on Thursday. Six equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Arcutis Biotherapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $35.57.

Arcutis Biotherapeutics Trading Up 2.5%

Shares of NASDAQ ARQT opened at $25.92 on Friday. Arcutis Biotherapeutics has a 1 year low of $14.03 and a 1 year high of $31.77. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.92 and a quick ratio of 2.67. The firm has a 50-day moving average of $26.14 and a 200 day moving average of $24.69. The stock has a market cap of $3.26 billion, a P/E ratio of 123.43 and a beta of 1.49.

Arcutis Biotherapeutics (NASDAQ:ARQT) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.05. Arcutis Biotherapeutics had a net margin of 6.15% and a return on equity of 15.05%. The business had revenue of $129.86 million for the quarter, compared to analysts’ expectations of $118.85 million. As a group, sell-side analysts expect that Arcutis Biotherapeutics will post 0.33 EPS for the current fiscal year.

Insider Activity

In related news, insider Masaru Matsuda sold 1,230 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $26.12, for a total value of $32,127.60. Following the completion of the transaction, the insider directly owned 126,171 shares in the company, valued at $3,295,586.52. The trade was a 0.97% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Todd Watanabe sold 4,375 shares of the company’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $26.12, for a total value of $114,275.00. Following the completion of the transaction, the insider directly owned 717,203 shares in the company, valued at $18,733,342.36. This trade represents a 0.61% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 16,237 shares of company stock valued at $408,214 over the last ninety days. 9.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of ARQT. SBI Securities Co. Ltd. boosted its position 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 buying an additional 833 shares during the last quarter. Global Retirement Partners LLC purchased a new position in Arcutis Biotherapeutics in the 4th quarter worth about $35,000. EverSource Wealth Advisors LLC lifted its stake in Arcutis Biotherapeutics by 124.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,261 shares of the company’s stock valued at $37,000 after acquiring an additional 698 shares during the period. NewEdge Advisors LLC lifted its stake in Arcutis Biotherapeutics by 209.0% during the 4th quarter. NewEdge Advisors LLC now owns 1,545 shares of the company’s stock valued at $45,000 after acquiring an additional 1,045 shares during the period. Finally, Truvestments Capital LLC boosted its holdings in shares of 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 acquiring an additional 1,606 shares during the last quarter.

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.