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

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

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on ARQT shares. Needham & Company LLC reiterated a “buy” rating and set a $18.00 target price on shares of Arcutis Biotherapeutics in a research report on Thursday, November 7th. Jefferies Financial Group assumed coverage on shares of Arcutis Biotherapeutics in a research note on Wednesday, August 28th. They set a “buy” rating and a $15.00 price target for the company.

Arcutis Biotherapeutics Price Performance

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 company has a market capitalization of $1.37 billion, a price-to-earnings ratio of -6.43 and a beta of 1.18. The company has a 50-day moving average price of $9.60 and a 200-day moving average price of $9.49.

Arcutis Biotherapeutics (NASDAQ:ARQT) last posted its earnings results 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. Arcutis Biotherapeutics had a negative return on equity of 119.11% and a negative net margin of 140.97%. The firm had revenue of $44.76 million for the quarter, compared to analyst estimates of $38.05 million. On average, equities research analysts expect that Arcutis Biotherapeutics, Inc. will post -1.34 EPS for the current fiscal year.

Insider Activity at Arcutis Biotherapeutics

In other Arcutis Biotherapeutics news, insider Patrick Burnett sold 16,023 shares of Arcutis Biotherapeutics stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $10.14, for a total value of $162,473.22. Following the sale, the insider now owns 128,669 shares of the company’s stock, valued at $1,304,703.66. This trade represents a 11.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Howard G. Welgus sold 10,000 shares of the company’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $8.65, for a total value of $86,500.00. Following the transaction, the director now directly owns 171,944 shares of the company’s stock, valued at $1,487,315.60. This represents a 5.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 76,951 shares of company stock valued at $752,744. 9.50% of the stock is owned by corporate insiders.

Institutional Trading of Arcutis Biotherapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in ARQT. Point72 DIFC Ltd acquired a new position in Arcutis Biotherapeutics during the third quarter worth $25,000. CWM LLC boosted its stake in shares of Arcutis Biotherapeutics by 6,740.0% during the 2nd quarter. CWM LLC now owns 4,104 shares of the company’s stock worth $38,000 after buying an additional 4,044 shares during the last quarter. Algert Global LLC bought a new position in shares of Arcutis Biotherapeutics in the 2nd quarter valued at about $97,000. Erste Asset Management GmbH bought a new position in Arcutis Biotherapeutics in the third quarter valued at approximately $104,000. Finally, Victory Capital Management Inc. increased its position in shares of Arcutis Biotherapeutics by 9.9% during the 3rd 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 during 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.