Goldman Sachs analyst Richard Law raised the firm’s price target on Arcutis Biotherapeutics (ARQT) to $29 from $19 and keeps a Neutral rating on the shares. Arcutis announced Q3 results and hosted an Investor Day to present more information on its three growth pillars that could potentially drive Zoryve’s peak sales to $2.6B-$3.5B per annum, the analyst tells investors in a research note. Goldman’s updated model assumes sustained growth without the need for future capital raises.
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