Arcutis Biotherapeutics (NASDAQ:ARQT) Given New $19.00 Price Target at Jefferies Financial Group

Arcutis Biotherapeutics (NASDAQ:ARQT) had its price target increased by investment analysts at Jefferies Financial Group from $16.00 to $19.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Jefferies Financial Group’s target price would suggest a potential upside of 23.91% from the stock’s current price.

Other equities analysts have also recently issued research reports about the company. Guggenheim reiterated a “buy” rating on shares of Arcutis Biotherapeutics in a report on Monday, February 24th. The Goldman Sachs Group increased their target price on shares of Arcutis Biotherapeutics from $13.00 to $15.00 and gave the company a “neutral” rating in a research note on Thursday, February 27th. Needham & Company LLC reaffirmed a “buy” rating and set a $20.00 price target on shares of Arcutis Biotherapeutics in a research note on Wednesday, February 26th. HC Wainwright reissued a “buy” rating and issued a $19.00 price objective on shares of Arcutis Biotherapeutics in a research report on Wednesday, February 26th. Finally, Mizuho raised their price objective on shares of Arcutis Biotherapeutics from $20.00 to $21.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 26th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $18.80.

Arcutis Biotherapeutics Price Performance

NASDAQ ARQT traded up $0.95 on Tuesday, reaching $15.33. The company had a trading volume of 1,602,468 shares, compared to its average volume of 2,207,693. The stock has a market capitalization of $1.82 billion, a PE ratio of -8.48 and a beta of 1.48. The firm’s 50 day moving average price is $13.45 and its 200 day moving average price is $11.72. The company has a quick ratio of 2.38, a current ratio of 2.46 and a debt-to-equity ratio of 0.67. Arcutis Biotherapeutics has a 12 month low of $6.99 and a 12 month high of $16.20.

Arcutis Biotherapeutics (NASDAQ:ARQT) last released its quarterly earnings results on Tuesday, February 25th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating 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 company had revenue of $71.36 million for the quarter, compared to the consensus estimate of $60.52 million. As a group, equities analysts predict that Arcutis Biotherapeutics will post -1.33 earnings per share for the current year.

Insider Activity

In related news, insider Patrick Burnett sold 2,819 shares of Arcutis Biotherapeutics stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $13.03, for a total transaction of $36,731.57. Following the transaction, the insider now directly owns 167,043 shares of the company’s stock, valued at $2,176,570.29. This trade represents a 1.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Todd Franklin Watanabe sold 15,000 shares of the business’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $15.17, for a total value of $227,550.00. Following the completion of the transaction, the insider now directly owns 823,430 shares of the company’s stock, valued at approximately $12,491,433.10. The trade was a 1.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 57,848 shares of company stock valued at $797,648. Corporate insiders own 9.50% of the company’s stock.

Institutional Trading of Arcutis Biotherapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Summit Investment Advisors Inc. raised its holdings in shares of Arcutis Biotherapeutics by 8.0% in the fourth quarter. Summit Investment Advisors Inc. now owns 11,245 shares of the company’s stock worth $157,000 after buying an additional 837 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of Arcutis Biotherapeutics by 9.9% in the 3rd 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 during the period. China Universal Asset Management Co. Ltd. raised its stake in Arcutis Biotherapeutics by 10.4% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 24,818 shares of the company’s stock worth $346,000 after acquiring an additional 2,336 shares during the last quarter. GF Fund Management CO. LTD. acquired a new stake in Arcutis Biotherapeutics during the 4th quarter worth about $34,000. Finally, Point72 DIFC Ltd purchased a new stake in Arcutis Biotherapeutics during the 3rd quarter valued at about $25,000.

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.