Arcutis Biotherapeutics (NASDAQ:ARQT) Given Buy Rating at HC Wainwright

Arcutis Biotherapeutics (NASDAQ:ARQT)‘s stock had its “buy” rating reaffirmed by equities research analysts at HC Wainwright in a note issued to investors on Wednesday,Benzinga reports. They presently have a $19.00 price objective on the stock. HC Wainwright’s price target points to a potential upside of 46.20% from the stock’s previous close.

ARQT has been the subject of several other reports. Needham & Company LLC reaffirmed a “buy” rating and set a $20.00 price target on shares of Arcutis Biotherapeutics in a research note on Wednesday. Guggenheim restated a “buy” rating on shares of Arcutis Biotherapeutics in a report on Monday. Finally, Mizuho increased their target price on shares of Arcutis Biotherapeutics from $20.00 to $21.00 and gave the company an “outperform” rating in a research report on Wednesday. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $17.20.

Arcutis Biotherapeutics Trading Up 6.5 %

Shares of NASDAQ ARQT traded up $0.80 during midday trading on Wednesday, hitting $13.00. The stock had a trading volume of 2,040,877 shares, compared to its average volume of 2,145,860. Arcutis Biotherapeutics has a 1-year low of $6.99 and a 1-year high of $16.20. The company has a fifty day moving average price of $13.59 and a 200 day moving average price of $11.41. The company has a quick ratio of 2.38, a current ratio of 2.46 and a debt-to-equity ratio of 0.67. The company has a market capitalization of $1.52 billion, a price-to-earnings ratio of -7.26 and a beta of 1.29.

Arcutis Biotherapeutics (NASDAQ:ARQT) last released its quarterly earnings results on Tuesday, February 25th. The company reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.28) by $0.19. The business had revenue of $71.36 million for the quarter, compared to analysts’ expectations of $60.52 million. Arcutis Biotherapeutics had a negative return on equity of 119.11% and a negative net margin of 140.97%. On average, analysts predict that Arcutis Biotherapeutics will post -1.33 earnings per share for the current year.

Insiders Place Their Bets

In other Arcutis Biotherapeutics news, insider Todd Franklin Watanabe sold 15,000 shares of the business’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $15.17, for a total transaction of $227,550.00. Following the transaction, the insider now owns 823,430 shares of the company’s stock, valued at approximately $12,491,433.10. The trade was a 1.79 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Howard G. Welgus sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $12.71, for a total transaction of $127,100.00. Following the sale, the director now directly owns 141,944 shares in the company, valued at approximately $1,804,108.24. The trade was a 6.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 55,029 shares of company stock valued at $756,017. 9.50% of the stock is currently owned by insiders.

Institutional Trading of Arcutis Biotherapeutics

Several hedge funds have recently made changes to their positions in ARQT. GF Fund Management CO. LTD. acquired a new position in Arcutis Biotherapeutics during the fourth quarter valued at approximately $34,000. Point72 DIFC Ltd bought a new stake in Arcutis Biotherapeutics during the third quarter worth approximately $25,000. Venturi Wealth Management LLC acquired a new stake in Arcutis Biotherapeutics during the 4th quarter worth about $46,000. Cibc World Markets Corp purchased a new stake in shares of Arcutis Biotherapeutics during the fourth quarter worth $140,000. Finally, Erste Asset Management GmbH bought a new stake in Arcutis Biotherapeutics in the third quarter worth $104,000.

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.