why Arcutis Biotherapeutics Inc. [ARQT] is a Good Choice for Investors After New Price Target of $53.86



Arcutis Biotherapeutics Inc. [NASDAQ: ARQT] traded at a high on 08/03/22, posting a 13.90 gain after which it closed the day’ session at $22.21. The company report on August 3, 2022 that Arcutis Biotherapeutics Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4).

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Arcutis Biotherapeutics, Inc. (Nasdaq: ARQT), an early commercial-stage biopharmaceutical company focused on developing meaningful innovations in immuno-dermatology, today reported the grant of an aggregate of 22,200 restricted stock units of Arcutis’ common stock as well as options to purchase an aggregate of 44,500 shares of Arcutis’ common stock to five newly hired employees. These awards were approved by the Compensation Committee of Arcutis’ Board of Directors and granted under the Arcutis Biotherapeutics, Inc. 2022 Inducement Plan, with a grant date of July 27, 2022, as an inducement material to the new employees entering into employment with Arcutis, in accordance with Nasdaq Listing Rule 5635(c)(4).

The restricted stock units vest over four years, with 25 percent vesting on each annual anniversary of the vesting commencement date, subject to the employee being continuously employed by Arcutis as of such vesting dates. The stock options vest over four years, with 25 percent vesting on the one-year anniversary of the vesting commencement date for such employee and the remainder vesting in 36 equal monthly installments over the following three years, subject to the employee being continuously employed by Arcutis as of such vesting dates. The stock options have a ten-year term and an exercise price of $22.25 per share, equal to the per share closing price of Arcutis’ common stock as reported by Nasdaq on July 27, 2022.

The results of the trading session contributed to over 3173418 shares changing hands. Over the past one week, the price volatility of Arcutis Biotherapeutics Inc. stands at 10.81% while the volatility over the past one month is 7.63%.

The market cap for ARQT stock reached $1.05 billion, with 50.51 million shares outstanding and 49.20 million shares in the current float. Compared to the average trading volume of 471.57K shares, ARQT reached a trading volume of 3173418 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Arcutis Biotherapeutics Inc. [ARQT]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ARQT shares is $53.86 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ARQT stock is a recommendation set at 1.90. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Goldman have made an estimate for Arcutis Biotherapeutics Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on March 17, 2022. While these analysts kept the previous recommendation, Mizuho raised their target price to Buy. The new note on the price target was released on June 30, 2021, representing the official price target for Arcutis Biotherapeutics Inc. stock. Previously, the target price had yet another raise to $52, while Morgan Stanley analysts kept a Overweight rating on ARQT stock. On November 09, 2020, analysts increased their price target for ARQT shares from 34 to 36.

The Average True Range (ATR) for Arcutis Biotherapeutics Inc. is set at 1.86 The Price to Book ratio for the last quarter was 4.42, with the Price to Cash per share for the same quarter was set at 7.29.

How has ARQT stock performed recently?

Arcutis Biotherapeutics Inc. [ARQT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.18. With this latest performance, ARQT shares gained by 1.12% in over the last four-week period, additionally plugging by 43.29% over the last 6 months – not to mention a drop of -2.76% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ARQT stock in for the last two-week period is set at 49.54, with the RSI for the last a single of trading hit 49.34, and the three-weeks RSI is set at 50.23 for Arcutis Biotherapeutics Inc. [ARQT]. The present Moving Average for the last 50 days of trading for this stock 21.93, while it was recorded at 21.92 for the last single week of trading, and 19.34 for the last 200 days.

Arcutis Biotherapeutics Inc. [ARQT]: Deeper insight into the fundamentals

Arcutis Biotherapeutics Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 10.90 and a Current Ratio set at 10.90.

Earnings analysis for Arcutis Biotherapeutics Inc. [ARQT]

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ARQT. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Arcutis Biotherapeutics Inc. go to 9.80%.

Insider trade positions for Arcutis Biotherapeutics Inc. [ARQT]

There are presently around $1,089 million, or 89.60% of ARQT stock, in the hands of institutional investors. The top three institutional holders of ARQT stocks are: FRAZIER LIFE SCIENCES MANAGEMENT, L.P. with ownership of 8,434,232, which is approximately New of the company’s market cap and around 4.20% of the total institutional ownership; FMR LLC, holding 7,557,593 shares of the stock with an approximate value of $167.85 million in ARQT stocks shares; and ORBIMED ADVISORS LLC, currently with $134.9 million in ARQT stock with ownership of nearly 0% of the company’s market capitalization.

Positions in Arcutis Biotherapeutics Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 60 institutional holders increased their position in Arcutis Biotherapeutics Inc. [NASDAQ:ARQT] by around 13,036,200 shares. Additionally, 37 investors decreased positions by around 10,164,662 shares, while 24 investors held positions by with 25,830,878 shares. The mentioned changes placed institutional holdings at 49,031,740 shares, according to the latest SEC report filing. ARQT stock had 26 new institutional investments in for a total of 10,652,566 shares, while 10 institutional investors sold positions of 8,571,338 shares during the same period.