In a report released today, Serge Belanger from Needham maintained a Buy rating on Arcutis Biotherapeutics (ARQT – Research Report), with a price target of $20.00.
Serge Belanger’s rating is based on several compelling factors. Arcutis Biotherapeutics has recently undergone significant changes in 2024, positioning the company for continued sales growth into 2025. This positive outlook is further supported by strategic moves such as a recent agreement that mitigates the risk of near-term competition from generic alternatives.
Additionally, the company’s leadership, as discussed in a fireside chat with the CEO and CFO, has outlined clear growth drivers for the upcoming year. These elements collectively contribute to a favorable market position, justifying the Buy rating given by Serge Belanger.
In another report released on April 7, Morgan Stanley also maintained a Buy rating on the stock with a $19.00 price target.
Based on the recent corporate insider activity of 74 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.