Arcutis Biotherapeutics (NASDAQ:ARQT) Given New $15.00 Price Target at The Goldman Sachs Group

Arcutis Biotherapeutics (NASDAQ:ARQT) had its price target boosted by The Goldman Sachs Group from $13.00 to $15.00 in a research report sent to investors on Thursday,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other equities research analysts have also recently issued reports on the company. Mizuho boosted their price target on Arcutis Biotherapeutics from $20.00 to $21.00 and gave the company an “outperform” rating in a research note on Wednesday. Guggenheim reiterated a “buy” rating on shares of Arcutis Biotherapeutics in a research note on Monday. Needham & Company LLC reiterated a “buy” rating and issued a $20.00 price target on shares of Arcutis Biotherapeutics in a research note on Wednesday. Finally, HC Wainwright reiterated a “buy” rating and issued a $19.00 price target on shares of Arcutis Biotherapeutics in a research note on Wednesday. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.00.

Arcutis Biotherapeutics Price Performance

Arcutis Biotherapeutics stock opened at $12.80 on Thursday. Arcutis Biotherapeutics has a 12 month low of $6.99 and a 12 month high of $16.20. The stock’s 50 day moving average is $13.56 and its 200-day moving average is $11.43. The company has a current ratio of 2.46, a quick ratio of 2.38 and a debt-to-equity ratio of 0.67. The company has a market capitalization of $1.50 billion, a price-to-earnings ratio of -7.15 and a beta of 1.29.

Arcutis Biotherapeutics (NASDAQ:ARQT) last issued its quarterly earnings results on Tuesday, February 25th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.28) by $0.19. The business had revenue of $71.36 million during the quarter, compared to analysts’ expectations of $60.52 million. Arcutis Biotherapeutics had a negative return on equity of 119.11% and a negative net margin of 140.97%. Equities research analysts expect that Arcutis Biotherapeutics will post -1.33 EPS for the current year.

Insiders Place Their Bets

In other news, insider Masaru Matsuda sold 8,338 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $12.70, for a total value of $105,892.60. Following the completion of the transaction, the insider now directly owns 178,692 shares in the company, valued at approximately $2,269,388.40. This represents a 4.46 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Howard G. Welgus sold 10,000 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $12.71, for a total value of $127,100.00. Following the completion of the transaction, the director now owns 141,944 shares of the company’s stock, valued at $1,804,108.24. The trade was a 6.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 55,029 shares of company stock worth $756,017 over the last three months. Insiders own 9.50% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Point72 DIFC Ltd bought a new position in shares of Arcutis Biotherapeutics in the 3rd quarter valued at $25,000. GF Fund Management CO. LTD. bought a new position in shares of Arcutis Biotherapeutics in the 4th quarter valued at $34,000. Venturi Wealth Management LLC acquired a new stake in Arcutis Biotherapeutics in the fourth quarter valued at $46,000. Erste Asset Management GmbH acquired a new stake in Arcutis Biotherapeutics in the third quarter valued at $104,000. Finally, Victory Capital Management Inc. increased 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 purchasing an additional 1,155 shares during the period.

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.