Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT – Get Rating) has received a consensus rating of "Buy" from the six research firms that are currently covering the stock, MarketBeat reports. Six equities research analysts have rated the stock with a buy recommendation. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $51.60.
Separately, Morgan Stanley lifted their price objective on Arcutis Biotherapeutics from $49.00 to $51.00 and gave the stock an "overweight" rating in a report on Tuesday, December 13th.
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Insiders Place Their Bets
In other news, Director Howard G. Welgus sold 8,500 shares of Arcutis Biotherapeutics stock in a transaction that occurred on Tuesday, January 17th. The stock was sold at an average price of $13.72, for a total value of $116,620.00. Following the completion of the transaction, the director now owns 165,825 shares in the company, valued at approximately $2,275,119. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, insider Masaru Matsuda sold 1,720 shares of the business's stock in a transaction that occurred on Monday, November 21st. The stock was sold at an average price of $18.19, for a total transaction of $31,286.80. Following the completion of the transaction, the insider now owns 19,535 shares in the company, valued at approximately $355,341.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Howard G. Welgus sold 8,500 shares of the business's stock in a transaction that occurred on Tuesday, January 17th. The shares were sold at an average price of $13.72, for a total value of $116,620.00. Following the transaction, the director now owns 165,825 shares of the company's stock, valued at approximately $2,275,119. The disclosure for this sale can be found here. Insiders have sold 13,695 shares of company stock worth $205,107 in the last three months. 23.00% of the stock is owned by insiders.
Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in the business. ProShare Advisors LLC acquired a new position in Arcutis Biotherapeutics during the 4th quarter worth $154,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Arcutis Biotherapeutics by 19.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,026 shares of the company's stock worth $104,000 after buying an additional 1,134 shares in the last quarter. New York State Common Retirement Fund raised its stake in shares of Arcutis Biotherapeutics by 21.8% in the 4th quarter. New York State Common Retirement Fund now owns 29,951 shares of the company's stock worth $443,000 after buying an additional 5,367 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Arcutis Biotherapeutics by 46.5% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,066,851 shares of the company's stock worth $15,789,000 after buying an additional 338,487 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. raised its stake in shares of Arcutis Biotherapeutics by 47.1% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 132,772 shares of the company's stock worth $1,965,000 after buying an additional 42,508 shares in the last quarter.
Arcutis Biotherapeutics Stock Performance
Shares of NASDAQ:ARQT opened at $16.67 on Friday. The company has a market cap of $1.02 billion, a P/E ratio of -2.83 and a beta of 0.52. The company has a debt-to-equity ratio of 0.73, a quick ratio of 13.27 and a current ratio of 13.39. Arcutis Biotherapeutics has a one year low of $12.81 and a one year high of $27.40. The business's 50-day simple moving average is $15.62 and its 200 day simple moving average is $18.92.
Arcutis Biotherapeutics (NASDAQ:ARQT – Get Rating) last announced its earnings results on Tuesday, November 8th. The company reported ($1.89) EPS for the quarter, missing the consensus estimate of ($1.54) by ($0.35). The company had revenue of $0.73 million during the quarter, compared to analyst estimates of $1.01 million. On average, sell-side analysts forecast that Arcutis Biotherapeutics will post -5.96 earnings per share for the current fiscal year.
About Arcutis Biotherapeutics
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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.
Further Reading
- Get a free copy of the StockNews.com research report on Arcutis Biotherapeutics (ARQT)
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