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    Home » Arcutis stock soars to 52-week high, hits $15.85 amid robust gains By Investing.com
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    Arcutis stock soars to 52-week high, hits $15.85 amid robust gains By Investing.com

    userBy userJanuary 7, 2025No Comments2 Mins Read
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    Arcutis Biotherapeutics Inc . (NASDAQ:) stock has reached a new 52-week high, touching $15.85 as the company rides a wave of positive momentum. The $1.76 billion market cap company has demonstrated remarkable growth, with revenue surging 183% in the last twelve months. This peak represents a significant milestone for the biopharmaceutical company, which specializes in developing innovative treatments for dermatological diseases. Over the past year, Arcutis has seen an impressive 296.5% stock return, reflecting investor confidence and the potential of its therapeutic pipeline. According to InvestingPro data, the company maintains an impressive 89.6% gross profit margin, with analysts setting price targets up to $29. The surge to a 52-week high underscores the market’s recognition of Arcutis’s strategic initiatives and its potential for growth in the competitive biotech sector. InvestingPro subscribers can access 12 additional investment tips and comprehensive analysis about ARQT’s future prospects.

    In other recent news, Arcutis Biotherapeutics has seen impressive growth, with Mizuho (NYSE:) Securities raising its stock price target to $20 and maintaining an Outperform rating. This confidence is backed by strong revenue growth and robust profit margins, with sales estimates for the Zoryve franchise increased for Q4 2024 and full year 2025. In addition, H.C. Wainwright initiated a Buy rating on Arcutis, highlighting the potential of Zoryve products for treating various skin conditions.

    The company has also announced several key executive promotions, including Patrick Burnett to Executive Vice President, Chief Medical (TASE:) Officer, and L. Todd Edwards to Executive Vice President, Chief Commercial Officer. These developments come as Arcutis reports a 452% year-over-year increase in net product revenues from its Zoryve portfolio.

    Furthermore, Arcutis has plans to expand Zoryve’s label by mid-2025 and anticipates reaching financial breakeven by 2026. These recent developments highlight Arcutis’s growth trajectory and the increasing confidence of analysts in the company’s performance.

    This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.





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