Arcutis Biotherapeutics (NASDAQ:ARQT) Trading 13.1% Higher – Should You Buy?

Shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) shot up 13.1% during trading on Monday . The stock traded as high as $15.01 and last traded at $16.53. 437,984 shares traded hands during trading, a decline of 82% from the average session volume of 2,382,324 shares. The stock had previously closed at $14.62.

Analyst Upgrades and Downgrades

Several research firms have commented on ARQT. The Goldman Sachs Group increased their price target on shares of Arcutis Biotherapeutics from $13.00 to $15.00 and gave the company a “neutral” rating in a research report on Thursday, February 27th. HC Wainwright reissued a “buy” rating and set a $19.00 price target on shares of Arcutis Biotherapeutics in a research report on Wednesday, February 26th. Guggenheim reissued a “buy” rating on shares of Arcutis Biotherapeutics in a research report on Monday, February 24th. Jefferies Financial Group increased their price target on shares of Arcutis Biotherapeutics from $16.00 to $19.00 and gave the company a “buy” rating in a research report on Tuesday, March 11th. Finally, Mizuho increased their price target on shares of Arcutis Biotherapeutics from $20.00 to $21.00 and gave the company an “outperform” rating in a research report on Wednesday, February 26th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Arcutis Biotherapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $18.80.

Arcutis Biotherapeutics Trading Down 3.3 %

The company has a 50 day simple moving average of $13.55 and a two-hundred day simple moving average of $11.92. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.38 and a current ratio of 2.46. The firm has a market cap of $1.88 billion, a PE ratio of -8.87 and a beta of 1.48.

Arcutis Biotherapeutics (NASDAQ:ARQT) last issued its quarterly earnings results on Tuesday, February 25th. The company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.28) by $0.19. Arcutis Biotherapeutics had a negative net margin of 140.97% and a negative return on equity of 119.11%. The company had revenue of $71.36 million for the quarter, compared to the consensus estimate of $60.52 million. Analysts expect that Arcutis Biotherapeutics, Inc. will post -1.33 EPS for the current fiscal year.

Insider Activity at Arcutis Biotherapeutics

In related news, insider Todd Franklin Watanabe sold 15,000 shares of Arcutis Biotherapeutics stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $15.17, for a total transaction of $227,550.00. Following the completion of the transaction, the insider now directly owns 823,430 shares in the company, valued at approximately $12,491,433.10. This trade represents a 1.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Patrick Burnett sold 12,242 shares of the company’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $15.04, for a total value of $184,119.68. Following the completion of the sale, the insider now owns 121,936 shares in the company, valued at approximately $1,833,917.44. This represents a 9.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 70,090 shares of company stock worth $981,768 over the last three months. Company insiders own 9.50% of the company’s stock.

Institutional Trading of Arcutis Biotherapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Point72 DIFC Ltd acquired a new stake in Arcutis Biotherapeutics in the 3rd quarter valued at $25,000. GF Fund Management CO. LTD. purchased a new position in Arcutis Biotherapeutics during the fourth quarter valued at $34,000. Venturi Wealth Management LLC acquired a new stake in shares of Arcutis Biotherapeutics in the fourth quarter valued at about $46,000. Erste Asset Management GmbH acquired a new stake in shares of Arcutis Biotherapeutics in the third quarter valued at about $104,000. Finally, Victory Capital Management Inc. increased its stake in shares of Arcutis Biotherapeutics by 9.9% during the third quarter. Victory Capital Management Inc. now owns 12,843 shares of the company’s stock worth $119,000 after purchasing an additional 1,155 shares in the last quarter.

About Arcutis Biotherapeutics

Arcutis Biotherapeutics, Inc, a biopharmaceutical company, focuses on developing and commercializing treatments for dermatological diseases. Its lead product candidate is ARQ-151, a topical roflumilast cream that has completed Phase III clinical trials for the treatment of plaque psoriasis and atopic dermatitis.