Arcutis Biotherapeutics (NASDAQ:ARQT) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Arcutis Biotherapeutics (NASDAQ:ARQT) from a buy rating to a strong-buy rating in a report published on Sunday morning.

Several other research analysts have also issued reports on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Arcutis Biotherapeutics in a research report on Monday, December 29th. HC Wainwright reiterated a “buy” rating and set a $30.00 target price on shares of Arcutis Biotherapeutics in a report on Wednesday, October 29th. Mizuho lifted their price target on shares of Arcutis Biotherapeutics from $32.00 to $37.00 and gave the company an “outperform” rating in a report on Friday, November 28th. Zacks Research downgraded Arcutis Biotherapeutics from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. Finally, Needham & Company LLC increased their price target on shares of Arcutis Biotherapeutics from $22.00 to $30.00 and gave the stock a “buy” rating in a research note on Tuesday, October 28th. Six equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Arcutis Biotherapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $29.00.

Arcutis Biotherapeutics Price Performance

Arcutis Biotherapeutics stock opened at $29.22 on Friday. The stock has a market capitalization of $3.58 billion, a price-to-earnings ratio of -81.17 and a beta of 1.71. Arcutis Biotherapeutics has a 52-week low of $11.13 and a 52-week high of $31.77. The stock’s 50 day moving average price is $28.03 and its two-hundred day moving average price is $20.70. The company has a debt-to-equity ratio of 0.68, a quick ratio of 3.28 and a current ratio of 3.50.

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

Insider Activity at Arcutis Biotherapeutics

In other Arcutis Biotherapeutics news, insider Todd Watanabe sold 48,945 shares of the firm’s 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 transaction, the insider 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 position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Masaru Matsuda sold 1,657 shares of the business’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $30.23, for a total transaction of $50,091.11. Following the completion of the transaction, the insider owned 150,641 shares of the company’s stock, valued at $4,553,877.43. This represents a 1.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 291,422 shares of company stock valued at $7,813,145 over the last ninety days. 9.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Triumph Capital Management purchased a new position in shares of Arcutis Biotherapeutics during the 2nd quarter valued at approximately $410,000. Invst LLC acquired a new stake in shares of Arcutis Biotherapeutics during the 1st quarter worth approximately $323,000. Frazier Life Sciences Management L.P. lifted its stake in Arcutis Biotherapeutics by 12.4% in the second quarter. Frazier Life Sciences Management L.P. now owns 9,874,511 shares of the company’s stock valued at $138,441,000 after buying an additional 1,089,227 shares during the last quarter. Perpetual Ltd boosted its stake in Arcutis Biotherapeutics by 7,534.3% during the 3rd quarter. Perpetual Ltd now owns 2,024,606 shares of the company’s stock valued at $38,164,000 after purchasing an additional 1,998,086 shares during the period. Finally, Fred Alger Management LLC bought a new position in Arcutis Biotherapeutics in the 1st quarter worth approximately $568,000.

About Arcutis Biotherapeutics

Arcutis Biotherapeutics is a clinical-stage biopharmaceutical company focused on developing and commercializing innovative therapies for immuno-inflammatory skin diseases. The company’s research and development efforts center on targeted treatments that address the underlying biology of conditions such as plaque psoriasis, atopic dermatitis, seborrheic dermatitis and vitiligo. Arcutis employs a precision-medicine approach to deliver topical therapies designed to improve efficacy and tolerability compared with existing treatment options.

In August 2022, Arcutis received U.S.