Wall Street Analysts Believe Arcutis Biotherapeutics (ARQT) Could Rally 26.53%: Here's is How to Trade

Core Viewpoint - Arcutis Biotherapeutics, Inc. (ARQT) shows significant potential for upside, with a current stock price of $24.01 and a mean price target of $30.38, indicating a 26.5% upside potential [1]. Price Targets - The average of eight short-term price targets ranges from a low of $29.00 to a high of $32.00, with a standard deviation of $1.19, suggesting a relatively high agreement among analysts [2]. - The lowest estimate indicates a potential increase of 20.8%, while the most optimistic estimate points to a 33.3% upside [2]. Analyst Sentiment - Analysts are increasingly optimistic about ARQT's earnings prospects, as indicated by a positive trend in earnings estimate revisions, which has historically correlated with stock price movements [4][11]. - Over the last 30 days, three earnings estimates have been revised higher, leading to a 46.5% increase in the Zacks Consensus Estimate for the current year [12]. Zacks Rank - ARQT holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimate factors, which further supports the stock's potential upside [13]. Conclusion on Price Targets - While the consensus price target may not be a reliable indicator of the magnitude of ARQT's potential gains, the direction implied by these targets appears to be a useful guide for further research [14].