Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) have received an average recommendation of “Moderate Buy” from the nine brokerages that are presently covering the company, Marketbeat.com reports. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $35.5714.

A number of research analysts have weighed in on the company. Needham & Company LLC upped 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. Morgan Stanley upped their price target on Arcutis Biotherapeutics from $34.00 to $38.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. Weiss Ratings upgraded Arcutis Biotherapeutics from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, August 20th. Guggenheim raised their price objective on Arcutis Biotherapeutics from $35.00 to $38.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Finally, Wall Street Zen raised Arcutis Biotherapeutics from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 8th.

Arcutis Biotherapeutics Price Performance

Shares of Arcutis Biotherapeutics stock opened at $23.90 on Tuesday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.67 and a current ratio of 2.92. Arcutis Biotherapeutics has a 52-week low of $16.21 and a 52-week high of $31.77. The company’s 50 day moving average price is $26.29 and its 200-day moving average price is $24.51. The stock has a market capitalization of $3.00 billion, a price-to-earnings ratio of 113.81 and a beta of 1.50.

Arcutis Biotherapeutics (NASDAQ:ARQT) last posted its earnings results on Wednesday, August 5th. The company reported $0.11 earnings per share (EPS) 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 return on equity of 15.05% and a net margin of 6.15%. Equities research analysts forecast that Arcutis Biotherapeutics will post 0.4 EPS for the current year.

Insider Activity at Arcutis Biotherapeutics

In related news, insider Todd Watanabe sold 4,375 shares of the firm’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 transaction of $114,275.00. Following the completion of the sale, the insider owned 717,203 shares of the company’s stock, valued at $18,733,342.36. This trade represents a 0.61% decrease in their ownership of the stock. 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, Director Terrie Curran sold 38,200 shares of the business’s stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $25.03, for a total value of $956,146.00. Following the completion of the transaction, the director owned 23,526 shares of the company’s stock, valued at $588,855.78. This represents a 61.89% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 75,239 shares of company stock worth $1,910,959 over the last quarter. 9.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Arcutis Biotherapeutics

Institutional investors and hedge funds have recently modified their holdings of the company. SBI Securities Co. Ltd. grew its stake in shares of Arcutis Biotherapeutics by 325.4% during the 4th quarter. SBI Securities Co. Ltd. now owns 1,089 shares of the company’s stock valued at $32,000 after acquiring an additional 833 shares during the period. Global Retirement Partners LLC bought a new stake in Arcutis Biotherapeutics during the 4th quarter worth approximately $35,000. EverSource Wealth Advisors LLC raised 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 worth $37,000 after acquiring an additional 698 shares during the period. NewEdge Advisors LLC boosted its position 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 worth $45,000 after purchasing an additional 1,045 shares during the period. Finally, Nykredit A S bought a new position in shares of Arcutis Biotherapeutics in the second quarter worth approximately $63,000.

About Arcutis Biotherapeutics

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.