ARQT - Arcutis Biotherapeutics initiated with a buy on Goldman Sachs; sees 163% upside

Goldman Sachs has initiated Arcutis Biotherapeutics (ARQT -2.5%) with a buy rating ahead of the potential approval of its first commercial product. The firm has a $45 price target (~163% upside based on Thursday's close). Analyst Chris Shibutani said that the stock price is "compelling at current levels," citing the anticipated approval this summer of roflumilast and data from other candidates in the pipeline. He added he expects the U.S. FDA to approve plaque psoriasis candidate roflumilast cream by the action date at the end of July. Check out why Seeking Alpha's Quant Rating views Arcutis (ARQT -2.5%) as a hold.

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Arcutis Biotherapeutics initiated with a buy on Goldman Sachs; sees 163% upside