Mizuho Issues Positive Forecast for Arcutis Biotherapeutics (NASDAQ:ARQT) Stock Price

Arcutis Biotherapeutics (NASDAQ:ARQT) had its price objective raised by Mizuho from $19.00 to $20.00 in a research note published on Tuesday morning,Benzinga reports. The firm currently has an outperform rating on the stock.

Several other research analysts have also weighed in on ARQT. Needham & Company LLC reiterated a “buy” rating and set a $18.00 price objective on shares of Arcutis Biotherapeutics in a report on Thursday, November 7th. HC Wainwright initiated coverage on shares of Arcutis Biotherapeutics in a research report on Monday, December 30th. They set a “buy” rating and a $19.00 target price for the company. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Arcutis Biotherapeutics presently has an average rating of “Moderate Buy” and an average price target of $16.60.

Arcutis Biotherapeutics Trading Down 3.1 %

Shares of ARQT stock opened at $15.27 on Tuesday. The firm has a market cap of $1.79 billion, a P/E ratio of -8.53 and a beta of 1.30. Arcutis Biotherapeutics has a 1-year low of $3.11 and a 1-year high of $16.20. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.46 and a quick ratio of 2.38. The firm’s 50-day simple moving average is $12.26 and its 200-day simple moving average is $10.60.

Arcutis Biotherapeutics (NASDAQ:ARQT) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.33) earnings per share for the quarter, topping the consensus estimate of ($0.42) by $0.09. The business had revenue of $44.76 million for the quarter, compared to analyst estimates of $38.05 million. Arcutis Biotherapeutics had a negative net margin of 140.97% and a negative return on equity of 119.11%. As a group, equities analysts forecast that Arcutis Biotherapeutics will post -1.34 EPS for the current year.

Insider Buying and Selling

In other Arcutis Biotherapeutics news, Director Howard G. Welgus sold 10,000 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $14.67, for a total value of $146,700.00. Following the completion of the sale, the director now owns 151,944 shares of the company’s stock, valued at $2,229,018.48. This trade represents a 6.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Todd Franklin Watanabe sold 15,000 shares of the stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $15.17, for a total transaction of $227,550.00. Following the completion of the sale, the insider now directly owns 823,430 shares of the company’s stock, valued at $12,491,433.10. This trade represents a 1.79 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 78,291 shares of company stock valued at $927,966. 9.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Arcutis Biotherapeutics

Large investors have recently bought and sold shares of the company. Suvretta Capital Management LLC boosted its stake in shares of Arcutis Biotherapeutics by 7.2% during the 3rd quarter. Suvretta Capital Management LLC now owns 10,721,511 shares of the company’s stock valued at $99,710,000 after buying an additional 717,019 shares during the last quarter. GSA Capital Partners LLP lifted its stake in Arcutis Biotherapeutics by 730.0% during the third quarter. GSA Capital Partners LLP now owns 237,174 shares of the company’s stock worth $2,206,000 after purchasing an additional 208,599 shares during the last quarter. Rubric Capital Management LP lifted its stake in Arcutis Biotherapeutics by 11.7% during the third quarter. Rubric Capital Management LP now owns 10,966,672 shares of the company’s stock worth $101,990,000 after purchasing an additional 1,150,000 shares during the last quarter. Wesbanco Bank Inc. bought a new position in Arcutis Biotherapeutics during the third quarter worth $955,000. Finally, Algert Global LLC lifted its stake in Arcutis Biotherapeutics by 595.9% during the third quarter. Algert Global LLC now owns 72,480 shares of the company’s stock worth $674,000 after purchasing an additional 62,065 shares during 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.