Arcutis Biotherapeutics’ (ARQT) Buy Rating Reaffirmed at HC Wainwright

by · The Cerbat Gem

HC Wainwright reissued their buy rating on shares of Arcutis Biotherapeutics (NASDAQ:ARQT – Free Report) in a research note issued to investors on Thursday morning,Benzinga reports. They currently have a $19.00 target price on the stock.

ARQT has been the topic of a number of other reports. 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 note on Thursday, February 27th. Jefferies Financial Group upped their price target on shares of Arcutis Biotherapeutics from $16.00 to $19.00 and gave the stock a “buy” rating in a research note on Tuesday, March 11th. Needham & Company LLC restated a “buy” rating and set a $20.00 price objective on shares of Arcutis Biotherapeutics in a research note on Wednesday, February 26th. Mizuho upped their target price on shares of Arcutis Biotherapeutics from $20.00 to $21.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 26th. Finally, Guggenheim reissued a “buy” rating on shares of Arcutis Biotherapeutics in a research report on Monday, February 24th. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $18.80.

Check Out Our Latest Research Report on Arcutis Biotherapeutics

Arcutis Biotherapeutics Trading Down 2.7 %

Shares of NASDAQ ARQT opened at $16.16 on Thursday. Arcutis Biotherapeutics has a 1 year low of $6.99 and a 1 year high of $17.75. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.46 and a quick ratio of 2.38. The firm has a 50-day moving average of $14.19 and a 200 day moving average of $12.38. The stock has a market cap of $1.92 billion, a P/E ratio of -9.03 and a beta of 1.48.

Arcutis Biotherapeutics (NASDAQ:ARQT – Get Free Report) last announced its earnings results 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. Arcutis Biotherapeutics had a negative net margin of 140.97% and a negative return on equity of 119.11%. The business had revenue of $71.36 million during the quarter, compared to the consensus estimate of $60.52 million. As a group, sell-side analysts expect that Arcutis Biotherapeutics will post -1.33 EPS for the current fiscal year.

Insider Activity

In other Arcutis Biotherapeutics news, insider Todd Franklin Watanabe sold 1,500 shares of the firm’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $17.52, for a total value of $26,280.00. Following the transaction, the insider now directly owns 927,414 shares of the company’s stock, valued at approximately $16,248,293.28. This trade represents a 0.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Howard G. Welgus sold 10,000 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $12.71, for a total value of $127,100.00. Following the sale, the director now owns 141,944 shares of the company’s stock, valued at approximately $1,804,108.24. This represents a 6.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 46,099 shares of company stock valued at $631,256 in the last 90 days. 9.50% of the stock is currently owned by insiders.

Institutional Trading of Arcutis Biotherapeutics

Large investors have recently added to or reduced their stakes in the business. Point72 DIFC Ltd purchased a new position in shares of Arcutis Biotherapeutics during the 3rd quarter worth $25,000. GF Fund Management CO. LTD. bought a new position in Arcutis Biotherapeutics in the 4th quarter worth $34,000. Venturi Wealth Management LLC bought a new position in Arcutis Biotherapeutics in the 4th quarter worth $46,000. Erste Asset Management GmbH purchased a new position in Arcutis Biotherapeutics during the third quarter valued at $104,000. Finally, Cibc World Markets Corp bought a new stake in Arcutis Biotherapeutics during the fourth quarter valued at about $140,000.

Arcutis Biotherapeutics Company Profile

(Get Free Report)

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.

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