Needham analyst Serge Belanger raised the firm’s price target on Arcutis Biotherapeutics to $16 from $8 and keeps a Buy rating on the shares. The upside surprise in the company’s Q4 results confirms the complete overhaul in Arcutis outlook that began in late-2023, the analyst tells investors in a research note. The increased price target also reflects an upside revision of the Zoryve/seb derm sales opportunity and increases in Zoryve sales, the firm added.
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Read More on ARQT:
- Arcutis Announces Fourth Quarter and Full Year 2023 Financial Results and Provides Business Update
- Arcutis Biotherapeutics reports Q4 EPS (72c), consensus (77c)
- Arcutis Biotherapeutics price target raised to $16 from $8 at Mizuho
- Arcutis to Report Fourth Quarter and Full Year 2023 Financial Results
- Arcutis Biotherapeutics Launches Stock Option Exchange Program
