American Century Companies Inc. Purchases 71,815 Shares of Arcutis Biotherapeutics, Inc. $ARQT

American Century Companies Inc. increased its stake in Arcutis Biotherapeutics by 4.3% in Q2, owning 1.44% of the company. Insider transactions included significant stock sales by Masaru Matsuda and Sue-Jean Lin. Analysts have given Arcutis a moderate buy rating, with a consensus target price of $29.00. The company's stock opened at $30.37, with a market cap of $3.72 billion. Recent earnings exceeded expectations, with $99.22 million in revenue.

American Century Companies Inc. grew its position in shares of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT - Free Report) by 4.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,724,307 shares of the company's stock after purchasing an additional 71,815 shares during the quarter. American Century Companies Inc. owned approximately 1.44% of Arcutis Biotherapeutics worth $24,175,000 as of its most recent SEC filing.

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A number of other large investors also recently modified their holdings of the company. Allostery Investments LP purchased a new stake in shares of Arcutis Biotherapeutics during the first quarter valued at approximately $117,000. PNC Financial Services Group Inc. boosted its position in Arcutis Biotherapeutics by 10.2% during the 2nd quarter. PNC Financial Services Group Inc. now owns 8,828 shares of the company's stock valued at $124,000 after buying an additional 820 shares during the period. Atlas Wealth LLC bought a new stake in Arcutis Biotherapeutics in the 2nd quarter worth $138,000. GK Wealth Management LLC bought a new stake in Arcutis Biotherapeutics in the 1st quarter worth $163,000. Finally, Virtus Advisers LLC increased its position in shares of Arcutis Biotherapeutics by 100.0% in the first quarter. Virtus Advisers LLC now owns 11,606 shares of the company's stock valued at $182,000 after acquiring an additional 5,803 shares during the period.

Insider Transactions at Arcutis Biotherapeutics

In other news, insider Masaru Matsuda sold 36,130 shares of Arcutis Biotherapeutics stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $16.16, for a total value of $583,860.80. Following the completion of the transaction, the insider owned 161,234 shares of the company's stock, valued at $2,605,541.44. The trade was a 18.31% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Sue-Jean Lin sold 25,272 shares of the stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $30.78, for a total transaction of $777,872.16. Following the sale, the director directly owned 26,735 shares in the company, valued at $822,903.30. This trade represents a 48.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 362,331 shares of company stock worth $8,714,539 over the last quarter. Corporate insiders own 9.40% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ARQT. Mizuho upped their target price on Arcutis Biotherapeutics from $32.00 to $37.00 and gave the company an "outperform" rating in a report on Friday. The Goldman Sachs Group upped their price objective on shares of Arcutis Biotherapeutics from $19.00 to $29.00 and gave the stock a "neutral" rating in a report on Thursday, October 30th. Needham & Company LLC lifted their target price on shares of Arcutis Biotherapeutics from $22.00 to $30.00 and gave the company a "buy" rating in a research note on Tuesday, October 28th. Wall Street Zen upgraded shares of Arcutis Biotherapeutics from a "buy" rating to a "strong-buy" rating in a research report on Saturday, November 1st. Finally, Zacks Research raised shares of Arcutis Biotherapeutics from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $29.00.

Check Out Our Latest Report on ARQT

Arcutis Biotherapeutics Price Performance

Shares of NASDAQ ARQT opened at $30.37 on Tuesday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 3.28 and a current ratio of 3.50. The company has a 50 day simple moving average of $23.20 and a two-hundred day simple moving average of $17.85. Arcutis Biotherapeutics, Inc. has a fifty-two week low of $11.13 and a fifty-two week high of $31.27. The company has a market capitalization of $3.72 billion, a price-to-earnings ratio of -84.36 and a beta of 1.69.

Arcutis Biotherapeutics (NASDAQ:ARQT - Get Free Report) last posted its quarterly earnings results on Tuesday, October 28th. The company reported $0.06 earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.16. The company had revenue of $99.22 million for the quarter, compared to the consensus estimate of $86.69 million. Arcutis Biotherapeutics had a negative return on equity of 29.69% and a negative net margin of 13.94%. Analysts expect that Arcutis Biotherapeutics, Inc. will post -1.33 EPS for the current fiscal year.

Arcutis Biotherapeutics Profile

(Free Report)

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.

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