Mizuho raised the firm’s price target on Arcutis Biotherapeutics (ARQT) to $21 from $20 and keeps an Outperform rating on the shares. The company’s Q4 results were strong, as Zoryve franchise sales of $69.4M beat the preannouncement, largely due to the inclusion of a $4.1M non-recurring reduction in reserves for product returns, the analyst tells investors in a research note.
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