ARQT - Arcutis price target raised to $80 at Cowen after positive ARQ-151 data

With an outperform rating, the analysts at Cowen raise Arcutis Biotherapeutics ([[ARQT]] +26.0%) to a street-high price target of $80 nearly a threefold value from Friday’s close after the company announced positive trial late-stage trial results for roflumilast cream (ARQ-151) in plaque psoriasis.The analyst Ken Cacciatore and the team note the data as ‘exceptional,’ which ‘firmly establishes the product as the best-in-class topical with superior efficacy/ tolerability.’In addition to superior efficacy to high potency steroids, ARQ-151 can be used in the long-term, which they believe as 'a major differentiating factor.’Citing management remarks of ‘$400-600 pricing to ensure broad access,’ the analysts project $750M for the treatment by 2028, anticipating its launch in 2022.Arcutis' other clinical programs have been de-risked by the data read, the analysts argue.ARQ-151 is undergoing a Phase III program in atopic dermatitis and the ARQ-154 is led in a Phase III program in seborrheic dermatitis, as well as a Phase II

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Arcutis price target raised to $80 at Cowen after positive ARQ-151 data