Analyst Serge Belanger from Needham maintained a Buy rating on Arcutis Biotherapeutics and keeping the price target at $22.00.
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Serge Belanger has given his Buy rating due to a combination of factors surrounding Arcutis Biotherapeutics. The recent FDA approval of the new Zoryve cream formulation for treating mild to moderate atopic dermatitis in young children marks a significant milestone. This approval not only broadens the market reach of Zoryve but also strengthens its position in the pediatric dermatology space.
Furthermore, this approval is part of a series of successful FDA endorsements for the Zoryve franchise, which enhances its credibility and market potential. The collaboration with Kowa, focusing on primary care physicians and pediatricians, is expected to drive sales growth. Additionally, the company’s upcoming financial results and strategic plans for sustained growth and new product developments are anticipated to further bolster investor confidence in Arcutis Biotherapeutics.
Based on the recent corporate insider activity of 84 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of ARQT in relation to earlier this year.