Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Stock Has Consensus Target Price of $35.57

Shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) have been assigned a consensus rating of “Moderate Buy” from the nine analysts that are covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $35.57.

Several research firms have weighed in on ARQT. Guggenheim upped their price target on Arcutis Biotherapeutics from $35.00 to $38.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Morgan Stanley lifted their price objective on shares of Arcutis Biotherapeutics from $34.00 to $38.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. Weiss Ratings upgraded shares of Arcutis Biotherapeutics from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, September 24th. Wall Street Zen raised shares of Arcutis Biotherapeutics from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 8th. Finally, Needham & Company LLC lifted their price target on shares of Arcutis Biotherapeutics from $36.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, August 6th.

Arcutis Biotherapeutics Trading Down 0.0%

Shares of Arcutis Biotherapeutics stock opened at $25.15 on Friday. The company has a market capitalization of $3.16 billion, a P/E ratio of 119.77 and a beta of 1.57. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.67 and a current ratio of 2.92. The company has a fifty day moving average of $25.57 and a 200 day moving average of $24.58. Arcutis Biotherapeutics has a fifty-two week low of $19.30 and a fifty-two week high of $31.77.

Arcutis Biotherapeutics (NASDAQ:ARQT) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.06 by $0.05. Arcutis Biotherapeutics had a return on equity of 15.05% and a net margin of 6.15%.The business had revenue of $129.86 million for the quarter, compared to the consensus estimate of $118.85 million. On average, sell-side analysts anticipate that Arcutis Biotherapeutics will post 0.42 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Terrie Curran sold 38,200 shares of the company’s stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $25.03, for a total transaction of $956,146.00. Following the sale, the director directly owned 23,526 shares of the company’s stock, valued at $588,855.78. This represents a 61.89% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Masaru Matsuda sold 3,674 shares of the stock in a transaction that occurred on Wednesday, September 16th. The shares were sold at an average price of $25.00, for a total value of $91,850.00. Following the transaction, the insider owned 112,508 shares of the company’s stock, valued at $2,812,700. This represents a 3.16% 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. Over the last quarter, insiders have sold 79,225 shares of company stock worth $2,015,966. Insiders own 9.40% of the company’s stock.

Hedge Funds Weigh In On Arcutis Biotherapeutics

Several institutional investors have recently bought and sold shares of the business. Arizona State Retirement System raised its stake in shares of Arcutis Biotherapeutics by 1.7% during the second quarter. Arizona State Retirement System now owns 30,802 shares of the company’s stock valued at $808,000 after acquiring an additional 521 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Arcutis Biotherapeutics by 124.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,261 shares of the company’s stock valued at $37,000 after purchasing an additional 698 shares during the period. Bank of New York Mellon Corp grew its stake in Arcutis Biotherapeutics by 0.4% in the first quarter. Bank of New York Mellon Corp now owns 305,532 shares of the company’s stock worth $7,198,000 after purchasing an additional 1,104 shares in the last quarter. KBC Group NV grew its stake in Arcutis Biotherapeutics by 43.2% in the first quarter. KBC Group NV now owns 4,376 shares of the company’s stock worth $103,000 after purchasing an additional 1,321 shares in the last quarter. Finally, Los Angeles Capital Management LLC increased its holdings in Arcutis Biotherapeutics by 2.3% during the 4th quarter. Los Angeles Capital Management LLC now owns 64,503 shares of the company’s stock worth $1,873,000 after purchasing an additional 1,478 shares during the period.

About Arcutis Biotherapeutics

Arcutis Biotherapeutics, Inc (NASDAQ: ARQT) is a biopharmaceutical company focused on developing and commercializing treatments for dermatologic conditions. The company concentrates on medical dermatology, with an emphasis on addressing diseases that can significantly affect patients’ quality of life and for which additional treatment options are needed.

Arcutis’s primary commercial product is ZORYVE (roflumilast), a topical phosphodiesterase-4 inhibitor available in multiple formulations.