Analyst Douglas Tsao from H.C. Wainwright reiterated a Buy rating on Arcutis Biotherapeutics (ARQT – Research Report) and keeping the price target at $19.00.
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Douglas Tsao’s rating is based on the recent FDA approval of Zoryve foam for plaque psoriasis, which is expected to drive sustained revenue growth for Arcutis Biotherapeutics. The foam’s formulation offers a comprehensive treatment option for psoriasis patients, covering both scalp and body areas, and is easier to apply than traditional creams and ointments. This expansion is anticipated to maintain the growth trajectory of the Zoryve franchise.
Zoryve’s effectiveness and patient satisfaction further support the Buy rating. A patient testimonial highlighted the foam’s advantages over other treatments, such as steroids and biologics, due to its safety and efficacy. Additionally, the endorsement from a psoriasis expert underscores the product’s unique value as a single solution for various body parts, simplifying treatment for both patients and dermatologists.
According to TipRanks, Tsao is a 4-star analyst with an average return of 8.4% and a 39.68% success rate. Tsao covers the Healthcare sector, focusing on stocks such as Protagonist Therapeutics, Arcutis Biotherapeutics, and Coherus Biosciences.
In another report released on May 30, Guggenheim also maintained a Buy rating on the stock with a $29.00 price target.