Arcutis Biotherapeutics (NASDAQ:ARQT) Trading Up 3.7% – Still a Buy?

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) rose 3.7% during mid-day trading on Tuesday . The stock traded as high as $11.50 and last traded at $11.17. Approximately 299,935 shares changed hands during trading, a decline of 91% from the average daily volume of 3,188,408 shares. The stock had previously closed at $10.77.

Analyst Ratings Changes

ARQT has been the topic of a number of research reports. Needham & Company LLC reissued a “buy” rating and issued a $18.00 price objective on shares of Arcutis Biotherapeutics in a research note on Thursday, November 7th. Jefferies Financial Group assumed coverage on Arcutis Biotherapeutics in a research note on Wednesday, August 28th. They issued a “buy” rating and a $15.00 price target for the company.

Arcutis Biotherapeutics Price Performance

The company’s 50 day simple moving average is $9.57 and its 200 day simple moving average is $9.46. 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 stock has a market cap of $1.29 billion, a P/E ratio of -6.02 and a beta of 1.18.

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

Insider Activity at Arcutis Biotherapeutics

In other Arcutis Biotherapeutics news, Director Howard G. Welgus sold 10,000 shares of Arcutis Biotherapeutics stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $10.77, for a total transaction of $107,700.00. Following the transaction, the director now directly owns 191,944 shares of the company’s stock, valued at approximately $2,067,236.88. This trade represents a 4.95 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Terrie Curran sold 8,687 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $10.85, for a total value of $94,253.95. Following the completion of the sale, the director now owns 10,139 shares of the company’s stock, valued at approximately $110,008.15. This trade represents a 46.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 60,928 shares of company stock worth $590,271 over the last quarter. Company insiders own 9.50% of the company’s stock.

Hedge Funds Weigh In On Arcutis Biotherapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Point72 DIFC Ltd bought a new position in Arcutis Biotherapeutics during the third quarter valued at $25,000. CWM LLC lifted its holdings in Arcutis Biotherapeutics by 6,740.0% in the 2nd quarter. CWM LLC now owns 4,104 shares of the company’s stock valued at $38,000 after purchasing an additional 4,044 shares in the last quarter. Algert Global LLC acquired a new position in Arcutis Biotherapeutics in the 2nd quarter valued at about $97,000. Erste Asset Management GmbH acquired a new stake in shares of Arcutis Biotherapeutics in the third quarter valued at $104,000. Finally, Victory Capital Management Inc. raised its holdings in Arcutis Biotherapeutics by 9.9% in the third quarter. Victory Capital Management Inc. now owns 12,843 shares of the company’s stock valued at $119,000 after acquiring an additional 1,155 shares in the last quarter.

Arcutis Biotherapeutics Company Profile

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.