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Mizuho Securities Believes Arcutis Biotherapeutics (ARQT) Won’t Stop Here

Mizuho Securities analyst Uy Ear maintained a Buy rating on Arcutis Biotherapeutics (ARQTResearch Report) today and set a price target of $57.00. The company’s shares closed last Friday at $25.50, close to its 52-week high of $27.45.

According to TipRanks.com, Ear is a 4-star analyst with an average return of 12.6% and a 68.2% success rate. Ear covers the Healthcare sector, focusing on stocks such as Sarepta Therapeutics, Avrobio, and uniQure.

Arcutis Biotherapeutics has an analyst consensus of Strong Buy, with a price target consensus of $47.75, which is a 107.6% upside from current levels. In a report issued on July 7, Cantor Fitzgerald also reiterated a Buy rating on the stock with a $50.00 price target.

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Based on Arcutis Biotherapeutics’ latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $64.32 million. In comparison, last year the company had a GAAP net loss of $36.04 million.

Based on the recent corporate insider activity of 56 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.

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