Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Given Average Recommendation of “Moderate Buy” by Analysts

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) has been assigned a consensus recommendation of “Moderate Buy” from the eight research firms that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $34.00.

A number of research firms have issued reports on ARQT. Needham & Company LLC reaffirmed a “buy” rating and issued a $36.00 price target on shares of Arcutis Biotherapeutics in a research report on Thursday, May 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of Arcutis Biotherapeutics in a research report on Wednesday, June 24th. Finally, Wall Street Zen upgraded shares of Arcutis Biotherapeutics from a “hold” rating to a “buy” rating in a research note on Sunday, July 12th.

Arcutis Biotherapeutics Price Performance

Shares of NASDAQ ARQT opened at $27.35 on Monday. Arcutis Biotherapeutics has a 12-month low of $13.69 and a 12-month high of $31.77. The stock has a market cap of $3.42 billion, a PE ratio of -911.36 and a beta of 1.48. The company has a current ratio of 2.68, a quick ratio of 2.46 and a debt-to-equity ratio of 0.54. The company has a 50-day moving average of $24.81 and a 200 day moving average of $24.72.

Arcutis Biotherapeutics (NASDAQ:ARQT) last announced its quarterly earnings results on Wednesday, May 6th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.07). Arcutis Biotherapeutics had a negative return on equity of 1.41% and a negative net margin of 0.57%.The firm had revenue of $105.40 million for the quarter, compared to analyst estimates of $103.67 million. As a group, sell-side analysts predict that Arcutis Biotherapeutics will post 0.16 EPS for the current fiscal year.

Insider Transactions at Arcutis Biotherapeutics

In other news, insider Todd Watanabe sold 3,172 shares of Arcutis Biotherapeutics stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $23.61, for a total transaction of $74,890.92. Following the completion of the sale, the insider directly owned 720,755 shares in the company, valued at approximately $17,017,025.55. This trade represents a 0.44% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Latha Vairavan sold 1,341 shares of the stock in a transaction on Monday, May 4th. The stock was sold at an average price of $23.61, for a total value of $31,661.01. Following the completion of the transaction, the chief financial officer directly owned 86,413 shares in the company, valued at $2,040,210.93. This trade represents a 1.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 30,931 shares of company stock valued at $730,086 in the last three months. Insiders own 9.40% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ARQT. SBI Securities Co. Ltd. increased its stake in Arcutis Biotherapeutics by 325.4% during the fourth quarter. SBI Securities Co. Ltd. now owns 1,089 shares of the company’s stock valued at $32,000 after purchasing an additional 833 shares during the last quarter. Global Retirement Partners LLC acquired a new position in shares of Arcutis Biotherapeutics in the 4th quarter valued at about $35,000. EverSource Wealth Advisors LLC grew its position in shares of Arcutis Biotherapeutics by 124.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,261 shares of the company’s stock valued at $37,000 after buying an additional 698 shares during the last quarter. NewEdge Advisors LLC raised its stake in Arcutis Biotherapeutics by 209.0% during the fourth quarter. NewEdge Advisors LLC now owns 1,545 shares of the company’s stock worth $45,000 after acquiring an additional 1,045 shares during the period. Finally, Truvestments Capital LLC lifted its holdings in Arcutis Biotherapeutics by 114.2% in the fourth quarter. Truvestments Capital LLC now owns 3,012 shares of the company’s stock worth $87,000 after acquiring an additional 1,606 shares during the last quarter.

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.