Needham analyst Serge Belanger has maintained their bullish stance on ARQT stock, giving a Buy rating today.
Serge Belanger has given his Buy rating due to a combination of factors that indicate strong future performance for Arcutis Biotherapeutics. The company has shown impressive sales growth for its Zoryve franchise, with a significant increase in prescription volume and a successful launch of its AD product. This growth is expected to continue into 2025, supported by strategic collaborations, expanded insurance coverage, and anticipated FDA approvals for additional indications.
Furthermore, Arcutis Biotherapeutics is in a solid financial position, with substantial cash reserves and access to additional funding if needed. The company is also on a path to achieve cash-flow breakeven by 2026. These financial strengths, combined with the ongoing sales momentum of Zoryve, underpin the Buy rating and the positive outlook for the stock.
In another report released today, Mizuho Securities also reiterated a Buy rating on the stock with a $21.00 price target.