Wall Street Analysts Believe Arcutis Biotherapeutics (ARQT) Could Rally 101.09%: Here's is How to Trade

Core Viewpoint - Arcutis Biotherapeutics, Inc. (ARQT) shows significant upside potential with a mean price target of $18.50, indicating a 101.1% increase from the current price of $9.20 [1] Price Targets and Analyst Consensus - The mean estimate consists of six short-term price targets with a standard deviation of $4.81, suggesting variability in analyst predictions [1] - The lowest estimate of $11 indicates a 19.6% increase, while the highest estimate suggests a potential surge of 182.6% to $26 [1] - Analysts' price targets can often mislead investors, as they may set overly optimistic targets due to business incentives [3][4] Earnings Estimates and Market Sentiment - Analysts are optimistic about ARQT's earnings prospects, with a 17.1% increase in the Zacks Consensus Estimate over the past month [5] - There is a strong correlation between earnings estimate revisions and near-term stock price movements, supporting the potential for upside [5] - ARQT holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimates [5]