In a report released today, Douglas Tsao from H.C. Wainwright reiterated a Buy rating on Arcutis Biotherapeutics, with a price target of $34.00.
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Douglas Tsao has given his Buy rating due to a combination of factors, including resilient underlying demand for Zoryve despite a seasonally weaker first quarter. He notes that revenue modestly exceeded expectations, year-over-year growth remains robust, and April prescription and gross-to-net trends point to a solid rebound in the second quarter as formulary access improves and copay support burdens ease.
He also highlights new clinical data in infants with atopic dermatitis showing rapid and meaningful itch relief, which strengthens the case for label expansion via an upcoming sNDA filing. Together with the advancing Zoryve foam program in pediatric plaque psoriasis and the potential for 2026 revenue guidance to be raised if near-term sales outperform, these catalysts underpin his unchanged $34 price target and continued Buy recommendation.
In another report released today, Needham also maintained a Buy rating on the stock with a $36.00 price target.