Arcutis Biotherapeutics (ARQT) Received its Third Buy in a Row

After Cantor Fitzgerald and Goldman Sachs gave Arcutis Biotherapeutics (NASDAQ: ARQT) a Buy rating last month, the company received another Buy, this time from Mizuho Securities. Analyst Uy Ear reiterated a Buy rating on Arcutis Biotherapeutics today and set a price target of $58.00. The company’s shares closed last Tuesday at $17.77.

According to TipRanks.com, Ear has 0 stars on 0-5 stars ranking scale with an average return of -12.9% and a 31.3% success rate. Ear covers the Healthcare sector, focusing on stocks such as Sarepta Therapeutics, Selecta Biosciences, and uniQure.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Arcutis Biotherapeutics with a $46.67 average price target, implying a 179.8% upside from current levels. In a report issued on March 17, Goldman Sachs also initiated coverage with a Buy rating on the stock with a $45.00 price target.

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The company has a one-year high of $36.45 and a one-year low of $13.59. Currently, Arcutis Biotherapeutics has an average volume of 231.6K.

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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.

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