Needham Maintains Buy on Arcutis Biotherapeutics, Lowers Price Target to $8
Portfolio Pulse from Benzinga Newsdesk
Needham analyst Serge Belanger has maintained a 'Buy' rating on Arcutis Biotherapeutics (NASDAQ:ARQT), but lowered the price target from $22 to $8.
November 06, 2023 | 11:59 am
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NEUTRAL IMPACT
Despite the lowered price target, Needham maintains a 'Buy' rating on Arcutis Biotherapeutics, indicating continued confidence in the company's potential.
The lowered price target may initially seem negative, but the maintained 'Buy' rating indicates that Needham still sees potential in Arcutis Biotherapeutics. This could lead to mixed market reactions, hence the neutral score.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100