Arcutis Biotherapeutics (NASDAQ:ARQT) Shares Up 6.1% – Time to Buy?

Shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) traded up 6.1% during mid-day trading on Tuesday . The company traded as high as $27.70 and last traded at $27.66. 1,808,224 shares were traded during trading, an increase of 15% from the average session volume of 1,566,617 shares. The stock had previously closed at $26.07.

Analysts Set New Price Targets

ARQT has been the topic of a number of research analyst reports. Wall Street Zen lowered Arcutis Biotherapeutics from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arcutis Biotherapeutics in a report on Wednesday, June 24th. Finally, Needham & Company LLC reissued a “buy” rating and set a $36.00 target price on shares of Arcutis Biotherapeutics in a research note on Thursday, May 7th. Five research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Arcutis Biotherapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $34.00.

Arcutis Biotherapeutics Trading Up 0.9%

The business has a 50 day simple moving average of $23.45 and a 200-day simple moving average of $24.83. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.46 and a current ratio of 2.68. The stock has a market capitalization of $3.60 billion, a P/E ratio of -960.18 and a beta of 1.48.

Arcutis Biotherapeutics (NASDAQ:ARQT) last posted its quarterly earnings data on Wednesday, May 6th. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.07). The firm had revenue of $105.40 million during the quarter, compared to the consensus estimate of $103.67 million. Arcutis Biotherapeutics had a negative return on equity of 1.41% and a negative net margin of 0.57%. On average, analysts predict that Arcutis Biotherapeutics, Inc. will post 0.15 EPS for the current year.

Insider Transactions at Arcutis Biotherapeutics

In related news, insider Todd Watanabe sold 3,172 shares of the 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 of the company’s stock, valued at $17,017,025.55. This represents a 0.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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, Director Sue-Jean Lin sold 4,946 shares of Arcutis Biotherapeutics stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $24.38, for a total transaction of $120,583.48. Following the completion of the transaction, the director owned 27,567 shares in the company, valued at approximately $672,083.46. This trade represents a 15.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 30,931 shares of company stock valued at $730,086 in the last quarter. 9.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Arcutis Biotherapeutics

A number of institutional investors and hedge funds have recently modified their holdings of ARQT. SBI Securities Co. Ltd. increased its stake in Arcutis Biotherapeutics by 325.4% in the 4th quarter. SBI Securities Co. Ltd. now owns 1,089 shares of the company’s stock worth $32,000 after purchasing an additional 833 shares in the last quarter. Global Retirement Partners LLC purchased a new stake in Arcutis Biotherapeutics during the fourth quarter valued at about $35,000. 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 worth $37,000 after buying an additional 698 shares during the period. NewEdge Advisors LLC boosted its holdings in shares of Arcutis Biotherapeutics by 209.0% in the fourth quarter. NewEdge Advisors LLC now owns 1,545 shares of the company’s stock worth $45,000 after buying an additional 1,045 shares during the period. Finally, Truvestments Capital LLC increased its position in shares of 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 in the last quarter.

Arcutis Biotherapeutics Company Profile

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.