Arcutis Biotherapeutics (NASDAQ:ARQT) Shares Up 4.1% – Time to Buy?

Shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) shot up 4.1% on Monday . The company traded as high as $13.32 and last traded at $13.54. 167,754 shares traded hands during mid-day trading, a decline of 93% from the average session volume of 2,383,920 shares. The stock had previously closed at $13.01.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on ARQT shares. Needham & Company LLC reissued a “buy” rating and set a $20.00 price objective on shares of Arcutis Biotherapeutics in a research report on Wednesday, April 9th. The Goldman Sachs Group increased their price target on 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 reiterated a “buy” rating and issued a $19.00 target price on shares of Arcutis Biotherapeutics in a research note on Thursday, April 3rd. Jefferies Financial Group boosted their price target on shares of Arcutis Biotherapeutics from $16.00 to $19.00 and gave the stock a “buy” rating in a report on Tuesday, March 11th. Finally, Mizuho lifted their target price on shares of Arcutis Biotherapeutics from $20.00 to $21.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 26th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $18.80.

Arcutis Biotherapeutics Stock Performance

The company has a market cap of $1.66 billion, a P/E ratio of -7.81 and a beta of 1.67. The company has a quick ratio of 2.38, a current ratio of 2.46 and a debt-to-equity ratio of 0.67. The company’s 50-day moving average is $14.33 and its two-hundred day moving average is $12.74.

Arcutis Biotherapeutics (NASDAQ:ARQT) last issued its earnings results on Tuesday, February 25th. The company reported ($0.09) earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $71.36 million during the quarter, compared to analyst estimates of $60.52 million. Equities analysts predict that Arcutis Biotherapeutics, Inc. will post -1.33 EPS for the current year.

Insider Buying and Selling

In other Arcutis Biotherapeutics news, insider Todd Franklin Watanabe sold 1,500 shares of the stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $17.52, for a total transaction of $26,280.00. Following the transaction, the insider now directly owns 927,414 shares in the company, valued at $16,248,293.28. This trade represents a 0.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Masaru Matsuda sold 8,338 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $12.70, for a total transaction of $105,892.60. Following the completion of the sale, the insider now owns 178,692 shares of the company’s stock, valued at approximately $2,269,388.40. The trade was a 4.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 46,099 shares of company stock worth $631,256. Insiders own 9.50% of the company’s stock.

Institutional Trading of Arcutis Biotherapeutics

Several institutional investors have recently added to or reduced their stakes in ARQT. GF Fund Management CO. LTD. purchased a new stake in Arcutis Biotherapeutics during the 4th quarter valued at about $34,000. Venturi Wealth Management LLC purchased a new stake in shares of Arcutis Biotherapeutics during the fourth quarter valued at approximately $46,000. Cibc World Markets Corp bought a new position in shares of Arcutis Biotherapeutics in the fourth quarter worth approximately $140,000. Summit Investment Advisors Inc. raised its holdings in Arcutis Biotherapeutics by 8.0% during the 4th quarter. Summit Investment Advisors Inc. now owns 11,245 shares of the company’s stock valued at $157,000 after buying an additional 837 shares during the last quarter. Finally, LVW Advisors LLC bought a new position in shares of Arcutis Biotherapeutics during the fourth quarter valued at about $166,000.

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.