Arcutis Biotherapeutics price target raised to $20 from $18 at Needham

Needham analyst Serge Belanger raised the firm’s price target on Arcutis Biotherapeutics (ARQT) to $20 from $18 and keeps a Buy rating on the shares. Following the company’s better than expected preliminary Q4 Zoryve franchise sales of $63M, the firm contends that drivers are in place for continued growth acceleration in 2025 given the ongoing launch ramp for the 0.15% cream, expansion of Medicaid/Medicare coverage, and the Kowa collaboration promoting the products to primary care doctors, the analyst tells investors in a research note.