In a report released today, Uy Ear from Mizuho Securities maintained a Buy rating on Arcutis Biotherapeutics (ARQT – Research Report), with a price target of $61.00. The company’s shares opened today at $13.63.
Ear covers the Healthcare sector, focusing on stocks such as Arcutis Biotherapeutics, Satsuma Pharmaceuticals, and Ocugen. According to TipRanks, Ear has an average return of 18.8% and a 25.00% success rate on recommended stocks.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Arcutis Biotherapeutics with a $52.50 average price target.
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Based on Arcutis Biotherapeutics’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $725 thousand and a GAAP net loss of $107.71 million. In comparison, last year the company had a GAAP net loss of $56.98 million
Based on the recent corporate insider activity of 58 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of ARQT in relation to earlier this year.
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Arcutis Biotherapeutics, Inc. engages in the development and commercialization of treatments for dermatological diseases. Its piepline consists of topical treatments for plaque psoriasis, atopic dermatitis, eczema, vitiligo, alopecia areata, and seborrheic dermatitis. The company was founded by Bhaskar Chaudhuri and David W. Osborne on June 1, 2016 and is headquartered in Westlake Village, CA.
Read More on ARQT:
- Arcutis Biotherapeutics Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
- Cantor calls Merck top large cap pharma pick, names 8 SMID cap top picks
- Arcutis Submits Supplemental New Drug Application for ZORYVE® (roflumilast) Cream 0.3% for Expanded Indication for the Treatment of Plaque Psoriasis in Children Down to 2 Years of Age
- Arcutis Biotherapeutics submits sNDA application to FDA for ZORYVE
- Arcutis Biotherapeutics says INTEGUMENT-2 trial met primary, secondary endpoints