Arcutis Biotherapeutics (NASDAQ:ARQT) Reaches New 1-Year High – Should You Buy?

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT)’s share price reached a new 52-week high on Tuesday . The stock traded as high as $16.15 and last traded at $16.05, with a volume of 503141 shares changing hands. The stock had previously closed at $14.71.

Analysts Set New Price Targets

Several research firms have commented on ARQT. Needham & Company LLC reaffirmed a “buy” rating and set a $18.00 price target on shares of Arcutis Biotherapeutics in a research report on Thursday, November 7th. HC Wainwright initiated coverage on shares of Arcutis Biotherapeutics in a research note on Monday, December 30th. They issued a “buy” rating and a $19.00 price objective on the stock. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Arcutis Biotherapeutics has a consensus rating of “Moderate Buy” and an average target price of $16.20.

Arcutis Biotherapeutics Stock Up 4.8 %

The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.38 and a current ratio of 2.46. The firm has a market capitalization of $1.80 billion, a price-to-earnings ratio of -8.61 and a beta of 1.30. The firm has a fifty day moving average price of $11.98 and a 200 day moving average price of $10.51.

Arcutis Biotherapeutics (NASDAQ:ARQT) last issued its earnings results on Wednesday, November 6th. The company reported ($0.33) EPS for the quarter, topping the consensus estimate of ($0.42) by $0.09. The company had revenue of $44.76 million for the quarter, compared to analyst estimates of $38.05 million. Arcutis Biotherapeutics had a negative net margin of 140.97% and a negative return on equity of 119.11%. As a group, sell-side analysts expect that Arcutis Biotherapeutics, Inc. will post -1.34 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Terrie Curran sold 8,687 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $10.85, for a total value of $94,253.95. Following the sale, the director now directly owns 10,139 shares in the company, valued at $110,008.15. This represents a 46.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Howard G. Welgus sold 10,000 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $8.65, for a total transaction of $86,500.00. Following the completion of the transaction, the director now directly owns 171,944 shares of the company’s stock, valued at $1,487,315.60. The trade was a 5.50 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 78,291 shares of company stock worth $927,966. 9.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Arcutis Biotherapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of ARQT. JPMorgan Chase & Co. raised its holdings in Arcutis Biotherapeutics by 0.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,296,911 shares of the company’s stock valued at $12,061,000 after acquiring an additional 11,833 shares during the last quarter. Geode Capital Management LLC increased its stake in Arcutis Biotherapeutics by 2.0% in the third quarter. Geode Capital Management LLC now owns 2,470,138 shares of the company’s stock valued at $22,977,000 after purchasing an additional 48,868 shares during the last quarter. Barclays PLC lifted its position in Arcutis Biotherapeutics by 45.8% during the third quarter. Barclays PLC now owns 253,392 shares of the company’s stock worth $2,356,000 after buying an additional 79,579 shares during the period. XTX Topco Ltd increased its stake in shares of Arcutis Biotherapeutics by 30.9% during the 3rd quarter. XTX Topco Ltd now owns 47,728 shares of the company’s stock valued at $444,000 after acquiring an additional 11,262 shares during the last quarter. Finally, State Street Corp lifted its holdings in shares of Arcutis Biotherapeutics by 9.9% during the 3rd quarter. State Street Corp now owns 5,641,631 shares of the company’s stock worth $52,467,000 after acquiring an additional 506,788 shares during the period.

About Arcutis Biotherapeutics

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.