Sustained Zoryve Prescription Momentum and Broad Dermatology Portfolio Underpin Buy Rating and $37 Target on Arcutis Biotherapeutics

Mizuho Securities analyst Uy Ear has maintained their bullish stance on ARQT stock, giving a Buy rating on December 19.

Uy Ear has given his Buy rating due to a combination of factors tied primarily to the robust performance of the Zoryve franchise. He highlights that total prescriptions for the overall Zoryve portfolio have increased for three consecutive weeks, with particularly strong and sustained double-digit growth in new prescriptions. This prescription momentum supports his sales projections that are slightly above market consensus for both 4Q25 and full-year 2026, signaling confidence that Arcutis can outperform current expectations. In addition, the company’s 2026 revenue guidance range aligns with the upper end of his forecast, reinforcing his view that the commercial execution remains strong.

Uy Ear also points to the breadth of Zoryve’s dermatology offerings—across multiple formulations and indications, including atopic dermatitis, seborrheic dermatitis, scalp and body psoriasis, and plaque psoriasis—as a key driver of durable growth. Each of the key Zoryve products is showing week-over-week increases in total and new prescriptions, indicating expanding adoption among prescribers and patients. He views this positive script trajectory as a sign of increasing market penetration versus competitors, such as VTAMA, and as a foundation for continued revenue expansion. Taken together, these dynamics support his unchanged $37 price target and underpin his Buy recommendation on Arcutis Biotherapeutics shares.

In another report released on December 19, Guggenheim also maintained a Buy rating on the stock with a $34.00 price target.