Oct. 29 at 11:59 AM
H.C. Wainwright⬆️
$ARQT's PT to
$30 from
$20, reiterated at Buy, and said, Arcutis delivered a strong Q3, highlighted by turning profitable, with positive EPS and product revenue well above the street consensus.
$INCY $PFE $AMGN $ABBV
H.C. Wainwright added:
In light of the robust demand for Zoryve,
management is confident in achieving cash flow break-even in 4Q25,
ahead of previously guided 2026.
Management's confidence is also reflected in their decision to provide forward guidance for the first time, with their
$455M-
$470M revenue outlook coming out ahead of Street expectations at
$442M and our model at
$430M.
The company has spoken about Zoryve's blockbuster potential in the past and we think the continued strength of execution and outlook for 2026 has begun to make believers out of the investment community.
We increased the POS for Zoryve cream 0.15% in pts
aged 2-5 to 100% given its approval in October, and raised revenue projections for 2025 and beyond, arriving at a new PT of
$30.
