UPDATE: Morgan Stanley Starts Arcutis Biotherapeutics Inc. (ARQT) at Overweight
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Morgan Stanley analyst David Lebowitz initiates coverage on Arcutis Biotherapeutics Inc. (NASDAQ: ARQT) with a Overweight rating and a price target of $52.00.
The analyst comments "Roflumilast has the efficacy and the safety to potentially become the rare topical dermatology blockbuster. Given that investors are typically skeptical about the prospects of topical therapeutics, we expect that ARQT shares would also benefit from a low bar. Initiate at OW and $52 PT."
Shares of Arcutis Biotherapeutics Inc. closed at $25.72 yesterday.
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