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

Shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) hit a new 52-week high during trading on Thursday . The stock traded as high as $31.39 and last traded at $30.9760, with a volume of 1072920 shares. The stock had previously closed at $29.96.

Analyst Upgrades and Downgrades

ARQT has been the subject of a number of research reports. Zacks Research upgraded Arcutis Biotherapeutics from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 29th. HC Wainwright restated a “buy” rating and issued a $30.00 price objective on shares of Arcutis Biotherapeutics in a research report on Wednesday, October 29th. Mizuho upped their target price on shares of Arcutis Biotherapeutics from $32.00 to $37.00 and gave the stock an “outperform” rating in a research report on Friday, November 28th. Weiss Ratings reissued a “sell (d-)” rating on shares of Arcutis Biotherapeutics in a report on Monday. Finally, Wall Street Zen upgraded shares of Arcutis Biotherapeutics from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 1st. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Arcutis Biotherapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $29.00.

Arcutis Biotherapeutics Stock Performance

The firm’s 50-day moving average price is $23.69 and its 200 day moving average price is $18.04. 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 has a market cap of $3.77 billion, a price-to-earnings ratio of -85.48 and a beta of 1.69.

Arcutis Biotherapeutics (NASDAQ:ARQT) last announced its quarterly earnings data 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. Arcutis Biotherapeutics had a negative net margin of 13.94% and a negative return on equity of 29.69%. The business had revenue of $99.22 million for the quarter, compared to analyst estimates of $86.69 million. On average, sell-side analysts anticipate that Arcutis Biotherapeutics, Inc. will post -1.33 EPS for the current year.

Insiders Place Their Bets

In other Arcutis Biotherapeutics news, Director Neha Krishnamohan sold 40,504 shares of the firm’s stock in a transaction dated Thursday, November 13th. The stock was sold at an average price of $23.20, for a total transaction of $939,692.80. Following the transaction, the director owned 22,123 shares in the company, valued at approximately $513,253.60. This trade represents a 64.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Todd Watanabe sold 48,945 shares of the company’s stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $30.36, for a total value of $1,485,970.20. Following the completion of the sale, the insider directly owned 740,537 shares of the company’s stock, valued at approximately $22,482,703.32. This trade represents a 6.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 337,858 shares of company stock worth $8,482,870 over the last three months. Insiders own 9.40% of the company’s stock.

Institutional Inflows and Outflows

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

Arcutis Biotherapeutics Company Profile

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.