Fintel reports that on September 25, 2023, Mizuho reiterated coverage of Arcutis Biotherapeutics (NASDAQ:ARQT) with a Buy recommendation.
Analyst Price Forecast Suggests 693.91% Upside
As of August 31, 2023, the average one-year price target for Arcutis Biotherapeutics is 42.71. The forecasts range from a low of 22.22 to a high of $59.85. The average price target represents an increase of 693.91% from its latest reported closing price of 5.38.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Arcutis Biotherapeutics is 53MM, an increase of 375.62%. The projected annual non-GAAP EPS is -4.69.
What is the Fund Sentiment?
There are 323 funds or institutions reporting positions in Arcutis Biotherapeutics. This is a decrease of 31 owner(s) or 8.76% in the last quarter. Average portfolio weight of all funds dedicated to ARQT is 0.11%, a decrease of 21.00%. Total shares owned by institutions increased in the last three months by 0.44% to 78,147K shares. 
The put/call ratio of ARQT is 2.56, indicating a bearish outlook.
What are Other Shareholders Doing?
Frazier Life Sciences Management holds 8,684K shares representing 14.09% ownership of the company. No change in the last quarter.
Rubric Capital Management holds 4,885K shares representing 7.92% ownership of the company. In it's prior filing, the firm reported owning 3,500K shares, representing an increase of 28.35%. The firm increased its portfolio allocation in ARQT by 99.40% over the last quarter.
XBI - SPDR(R) S&P(R) Biotech ETF holds 4,314K shares representing 7.00% ownership of the company. In it's prior filing, the firm reported owning 2,825K shares, representing an increase of 34.51%. The firm increased its portfolio allocation in ARQT by 31.67% over the last quarter.
Jennison Associates holds 4,294K shares representing 6.96% ownership of the company. In it's prior filing, the firm reported owning 2,214K shares, representing an increase of 48.43%. The firm increased its portfolio allocation in ARQT by 49.47% over the last quarter.
Polar Capital Holdings holds 3,128K shares representing 5.07% ownership of the company. In it's prior filing, the firm reported owning 3,136K shares, representing a decrease of 0.25%. The firm decreased its portfolio allocation in ARQT by 18.22% over the last quarter.
Arcutis Biotherapeutics Background Information
(This description is provided by the company.)
Arcutis Biotherapeutics, Inc. is a late-stage biopharmaceutical company focused on developing and commercializing treatments for unmet needs in immune-mediated dermatological diseases and conditions, or immuno-dermatology. The company is leveraging recent advances in immunology and inflammation to develop differentiated therapies against biologically validated targets to solve persistent treatment challenges in serious diseases of the skin. Arcutis' robust pipeline includes four novel drug candidates currently in development for a range of inflammatory dermatological conditions. The company's lead product candidate, topical roflumilast, has the potential to become the standard of care for plaque psoriasis, atopic dermatitis, scalp psoriasis, and seborrheic dermatitis.
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