Arcutis Biotherapeutics (NASDAQ:ARQT) Trading Up 5.6% – What’s Next?

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT)’s stock price was up 5.6% during trading on Tuesday . The stock traded as high as $27.30 and last traded at $27.4070. 517,408 shares were traded during mid-day trading, a decline of 70% from the average daily volume of 1,744,782 shares. The stock had previously closed at $25.96.

Analysts Set New Price Targets

Several analysts recently commented on ARQT shares. Wall Street Zen raised shares of Arcutis Biotherapeutics from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 8th. Needham & Company LLC increased 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. Morgan Stanley upped their target price on 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 lowered Arcutis Biotherapeutics from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, September 8th. Finally, Guggenheim increased their price objective on Arcutis Biotherapeutics from $35.00 to $38.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Six analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $35.57.

Arcutis Biotherapeutics Trading Down 5.0%

The company has a market capitalization of $3.32 billion, a price-to-earnings ratio of 125.63 and a beta of 1.50. The company has a current ratio of 2.92, a quick ratio of 2.67 and a debt-to-equity ratio of 0.46. The business’s 50 day moving average price is $25.83 and its two-hundred day moving average price is $24.43.

Arcutis Biotherapeutics (NASDAQ:ARQT) last issued 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 net margin of 6.15% and a return on equity of 15.05%. The business had revenue of $129.86 million during the quarter, compared to the consensus estimate of $118.85 million. On average, equities analysts predict that Arcutis Biotherapeutics, Inc. will post 0.42 earnings per share for the current fiscal year.

Insider Transactions at Arcutis Biotherapeutics

In related news, Director Terrie Curran sold 38,200 shares of the firm’s stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $25.03, for a total value of $956,146.00. Following the completion of the transaction, the director owned 23,526 shares in the company, valued at $588,855.78. This trade represents a 61.89% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Masaru Matsuda sold 9,989 shares of the business’s stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $25.03, for a total transaction of $250,024.67. Following the sale, the insider directly owned 116,182 shares in the company, valued at $2,908,035.46. The trade was a 7.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 79,225 shares of company stock valued at $2,015,966. 9.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Arcutis Biotherapeutics

Several institutional investors have recently modified their holdings of the business. Montanova Capital LLC lifted its holdings in Arcutis Biotherapeutics by 0.9% during the 2nd quarter. Montanova Capital LLC now owns 12,437,000 shares of the company’s stock worth $326,098,000 after buying an additional 110,000 shares during the period. BlackRock Inc. bought a new stake in shares of Arcutis Biotherapeutics in the 2nd quarter valued at $276,502,000. Polar Capital Holdings Plc increased its position in shares of Arcutis Biotherapeutics by 4.9% during the fourth quarter. Polar Capital Holdings Plc now owns 5,556,169 shares of the company’s stock worth $161,351,000 after buying an additional 257,415 shares during the period. Bank of America Corp DE acquired a new position in Arcutis Biotherapeutics in the second quarter valued at $78,330,000. Finally, Geode Capital Management LLC boosted its position in Arcutis Biotherapeutics by 5.6% during the fourth quarter. Geode Capital Management LLC now owns 2,753,307 shares of the company’s stock valued at $79,967,000 after acquiring an additional 146,842 shares during the last quarter.

About Arcutis Biotherapeutics

Arcutis Biotherapeutics, Inc is a biopharmaceutical company focused on developing and commercializing treatments for immune-mediated dermatological conditions. The company’s research and development activities are centered on therapies intended to address significant unmet needs in inflammatory skin diseases.

Arcutis’s primary commercial product is ZORYVE (roflumilast), a topical, nonsteroidal phosphodiesterase-4 inhibitor. The product is available in multiple formulations and strengths for certain patients with plaque psoriasis, seborrheic dermatitis and atopic dermatitis.