Arcutis Biotherapeutics price target raised to $25 from $20 at TD Cowen

TD Cowen raised the firm’s price target on Arcutis Biotherapeutics (ARQT) to $25 from $20 and keeps a Buy rating on the shares. The firm notes total product sales beat consensus, with management reporting 19% quarter-to-quarter prescription growth, and GTN remains stable in the 50% range. Near-term growth will be driven by commercial execution and indication expansion. Zoryve life-cycle management and a focused subset of 40-plus possible inflammatory derm indications support mid-term growth, with pipeline and BD fueling long-term gains, TD Cowen adds.