Arcutis Biotherapeutics Inc. (ARQT) PT Raised to 'Street High' $80 at Cowen

Cowen analyst Ken Cacciatore raised the price target on Arcutis Biotherapeutics Inc. (NASDAQ: ARQT) to a 'Street High' $80.00 (from $55.00) while maintaining an Outperform rating.

The analyst commented, "Arcutis announced positive pivotal Phase III results for ARQ-151 in psoriasis, which even surpassed the impressive Phase IIb data, and we believe firmly establishes the product as the best-in-class topical with superior efficacy/ tolerability. Importantly, the other pipeline programs also continue to progress, representing additional substantial opportunities in AD & seb derm. Our PT moves to $80."

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