Tyler Van Buren, an analyst from TD Cowen, maintained the Buy rating on Arcutis Biotherapeutics (ARQT – Research Report). The associated price target remains the same with $20.00.
Tyler Van Buren’s rating is based on a comprehensive analysis of Arcutis Biotherapeutics’ financial outlook and market position. Despite adjusting the quarterly sales estimates due to the absence of a one-time benefit and accounting for seasonal variations, the overall projections for the company remain positive. The updated sales and earnings per share estimates reflect a realistic assessment of the company’s performance, which supports the Buy rating.
Van Buren’s confidence in Arcutis Biotherapeutics is further bolstered by the company’s strategic positioning and potential for growth in the biotech sector. The adjustments made in the model do not alter the long-term price target, indicating a belief in the company’s ability to navigate short-term fluctuations and achieve sustained success. This combination of factors underpins the Buy recommendation, suggesting that the stock is a worthwhile investment opportunity.
According to TipRanks, Van Buren is an analyst with an average return of -6.3% and a 36.59% success rate. Van Buren covers the Healthcare sector, focusing on stocks such as BridgeBio Pharma, Regeneron, and Moderna.
In another report released on April 14, Morgan Stanley also maintained a Buy rating on the stock with a $19.00 price target.