JonesTrading Remains a Buy on Arcutis Biotherapeutics (ARQT)
In a report issued on February 1, Prakhar Agrawal from JonesTrading reiterated a Buy rating on Arcutis Biotherapeutics (ARQT), with a price target of $51.00. The company’s shares closed last Thursday at $34.90.
Arcutis Biotherapeutics has an analyst consensus of Strong Buy, with a price target consensus of $51.33, a 47.1% upside from current levels. In a report issued on February 2, Truist Financial also maintained a Buy rating on the stock with a $48.00 price target.
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Based on Arcutis Biotherapeutics’ latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $38.2 million. In comparison, last year the company had a GAAP net loss of $14.48 million.
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Arcutis Biotherapeutics, Inc. engages in the development and commercialization of treatments for dermatological diseases. Its piepline consists of topical treatments for plaque psoriasis, atopic dermatitis, eczema, vitiligo, alopecia areata, and seborrheic dermatitis. The company was founded by Bhaskar Chaudhuri and David W. Osborne on June 1, 2016 and is headquartered in Westlake Village, CA.