Arcutis Biotherapeutics (NASDAQ:ARQT) Stock Rating Upgraded by Wall Street Zen

by · The Cerbat Gem

Arcutis Biotherapeutics (NASDAQ:ARQT – Get Free Report) was upgraded by analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a report issued on Sunday.

ARQT has been the topic of several other research reports. The Goldman Sachs Group increased their price target on Arcutis Biotherapeutics from $19.00 to $29.00 and gave the company a “neutral” rating in a report on Thursday, October 30th. Mizuho lifted their price objective on shares of Arcutis Biotherapeutics from $32.00 to $37.00 and gave the stock an “outperform” rating in a research note on Friday, November 28th. HC Wainwright restated a “buy” rating and issued a $30.00 price objective on shares of Arcutis Biotherapeutics in a research note on Wednesday, October 29th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arcutis Biotherapeutics in a report on Monday, December 8th. Finally, Zacks Research upgraded shares of Arcutis Biotherapeutics from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $29.00.

Read Our Latest Stock Report on Arcutis Biotherapeutics

Arcutis Biotherapeutics Price Performance

ARQT stock opened at $28.95 on Friday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 3.28 and a current ratio of 3.50. The company’s fifty day moving average price is $25.45 and its 200-day moving average price is $18.98. Arcutis Biotherapeutics has a one year low of $11.13 and a one year high of $31.77. The company has a market capitalization of $3.55 billion, a PE ratio of -80.42 and a beta of 1.69.

Arcutis Biotherapeutics (NASDAQ:ARQT – Get Free Report) last posted its earnings results on Tuesday, October 28th. The company reported $0.06 earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.16. The company had revenue of $99.22 million during the quarter, compared to analysts’ expectations of $86.69 million. Arcutis Biotherapeutics had a negative net margin of 13.94% and a negative return on equity of 29.69%. On average, equities analysts anticipate that Arcutis Biotherapeutics will post -1.33 EPS for the current fiscal year.

Insider Activity

In related news, insider Patrick Burnett sold 17,250 shares of Arcutis Biotherapeutics stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $24.18, for a total value of $417,105.00. Following the sale, the insider owned 98,325 shares of the company’s stock, valued at approximately $2,377,498.50. This trade represents a 14.93% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Todd Watanabe sold 48,945 shares of Arcutis Biotherapeutics stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $30.36, for a total transaction of $1,485,970.20. Following the completion of the sale, the insider owned 740,537 shares in the company, valued at approximately $22,482,703.32. This trade represents a 6.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 327,729 shares of company stock worth $8,305,217. Insiders own 9.40% of the company’s stock.

Institutional Trading of Arcutis Biotherapeutics

Institutional investors have recently made changes to their positions in the company. Johnson Investment Counsel Inc. purchased a new stake in shares of Arcutis Biotherapeutics during the third quarter worth $30,000. Allostery Investments LP purchased a new stake in shares of Arcutis Biotherapeutics in the first quarter valued at about $117,000. PNC Financial Services Group Inc. increased its stake in Arcutis Biotherapeutics by 10.2% during the second quarter. PNC Financial Services Group Inc. now owns 8,828 shares of the company’s stock worth $124,000 after acquiring an additional 820 shares during the last quarter. Jones Financial Companies Lllp raised its stake in shares of Arcutis Biotherapeutics by 1,291.1% in the 3rd quarter. Jones Financial Companies Lllp now owns 7,067 shares of the company’s stock valued at $124,000 after acquiring an additional 6,559 shares during the period. Finally, Atlas Wealth LLC acquired a new position in shares of Arcutis Biotherapeutics in the 2nd quarter worth approximately $138,000.

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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