Serge Belanger, an analyst from Needham, maintained the Buy rating on Arcutis Biotherapeutics (ARQT – Research Report). The associated price target remains the same with $20.00.
Serge Belanger’s rating is based on a combination of factors that highlight a positive outlook for Arcutis Biotherapeutics. The recent agreement with Padagis to stay the ongoing patent litigation is a significant development. This move effectively pauses the legal proceedings, which were becoming a concern for investors, and maintains the integrity of Arcutis’s intellectual property.
The agreement allows Arcutis to focus on the growth of its Zoryve product line without the immediate pressure of litigation. Additionally, the preservation of the Hatch-Waxman regulatory stay provides a strategic advantage should the litigation resume. These factors contribute to a favorable environment for Arcutis, supporting the Buy rating given by Serge Belanger.
Based on the recent corporate insider activity of 72 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.