Arcutis Biotherapeutics initiated with a Buy at H.C. Wainwright

H.C. Wainwright analyst Douglas Tsao initiated coverage of Arcutis Biotherapeutics (ARQT) with a Buy rating and $19 price target The firm expects Zoryve, across its family of strengths and presentations, to become one of the leading topical agents for treating inflammatory dermatology conditions including psoriasis, atopic dermatitis, and seborrheic dermatitis with “blockbuster” peak sales potential. While the Zoryve cream initially got off to a measured commercial launch, the launch of the Zoryve foam for seborrheic dermatitis in January, an indication with few good treatments, served as a catalyst to jump start growth for the entire Zoryve franchise, the analyst tells investors in a research note.