why Arcutis Biotherapeutics Inc [ARQT] is a Good Choice for Investors After New Price Target of $13.33

Arcutis Biotherapeutics Inc [NASDAQ: ARQT] jumped around 0.94 points on Tuesday, while shares priced at $10.63 at the close of the session, up 9.70%. The company report on February 27, 2024 at 5:50 AM that Arcutis Announces Fourth Quarter and Full Year 2023 Financial Results and Provides Business Update.

Q4 net product revenues for ZORYVE® (roflumilast) cream 0.3% were $13.5 million, a 357% increase compared to the fourth quarter of 2022 and a 67% increase compared to the third quarter of 2023; driven by sequential improvement in gross-to-net (GTN) in the mid 60 percent range, as well as sustained demand growth.

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Received U.S. Food and Drug Administration (FDA) approval for ZORYVE® (roflumilast) topical foam, 0.3%, for the treatment of seborrheic dermatitis in adults and children down to age 9 in December 2023 and launched ZORYVE foam for seborrheic dermatitis in United States in late January 2024.

Compared to the average trading volume of 5.88M shares, ARQT reached a trading volume of 9250596 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 $13.33 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 1.57. 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.

Mizuho have made an estimate for Arcutis Biotherapeutics Inc shares, keeping their opinion on the stock as Buy, with their previous recommendation back on January 03, 2024. While these analysts kept the previous recommendation, Mizuho dropped their target price from $57 to $4. The new note on the price target was released on October 26, 2023, representing the official price target for Arcutis Biotherapeutics Inc stock. Previously, the target price had yet another drop from $32 to $6, while Goldman kept a Neutral rating on ARQT stock.

The Average True Range (ATR) for Arcutis Biotherapeutics Inc is set at 0.83, with the Price to Sales ratio for ARQT stock in the period of the last 12 months amounting to 278.83. The Price to Book ratio for the last quarter was 14.08, with the Price to Cash per share for the same quarter was set at 2.82.

How has ARQT stock performed recently?

Arcutis Biotherapeutics Inc [ARQT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 12.13. With this latest performance, ARQT shares gained by 100.57% in over the last four-week period, additionally plugging by 37.34% over the last 6 months – not to mention a drop of -32.12% 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 86.70, with the RSI for the last a single of trading hit 90.03, and the three-weeks RSI is set at 83.65 for Arcutis Biotherapeutics Inc [ARQT]. The present Moving Average for the last 50 days of trading for this stock 5.17, while it was recorded at 9.78 for the last single week of trading, and 6.30 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 6.80 and a Current Ratio set at 7.08.

Earnings analysis for Arcutis Biotherapeutics Inc [ARQT]

With the latest financial reports released by the company, Arcutis Biotherapeutics Inc posted -1.18/share EPS, while the average EPS was predicted by analysts to be reported at -1.42/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 16.90%. 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]

The top three institutional holders of ARQT stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in ARQT stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in ARQT stock with ownership which is approximately 5.8325%.