Morgan Stanley analyst Vikram Purohit lowered the firm’s price target on Arcutis Biotherapeutics to $47 from $50 and keeps an Overweight rating on the shares. The firm issued its biotechnology Q1 sector preview, stating that broadly for the group it does not "expect many surprises" given recently issued guidance. The firm sees investor focus being mainly on Q2 catalysts in the space.
Published first on TheFly
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