In a report released today, Serge Belanger from Needham maintained a Buy rating on Arcutis Biotherapeutics (ARQT – Research Report), with a price target of $20.00.
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Serge Belanger has given his Buy rating due to a combination of factors related to Arcutis Biotherapeutics’ recent achievements and future potential. The company received its fifth FDA approval for Zoryve, a topical foam treatment for psoriasis affecting the scalp and body, which expands its treatment options for patients with difficult-to-treat areas.
This approval is expected to enhance Zoryve’s growth trajectory in the psoriasis market, solidifying its position as a key revenue driver for Arcutis Biotherapeutics. Additionally, upcoming catalysts such as phase 1 trial results for their alopecia areata program and a potential sixth FDA approval for a pediatric atopic dermatitis treatment in the coming years further support the positive outlook for the company’s stock.
According to TipRanks, Belanger is a 2-star analyst with an average return of 0.2% and a 39.33% success rate. Belanger covers the Healthcare sector, focusing on stocks such as Liquidia Technologies, Cytokinetics, and Trevi Therapeutics.
In another report released on May 11, Morgan Stanley also maintained a Buy rating on the stock with a $19.00 price target.
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