Arcutis Biotherapeutics (ARQT) Stock

The rally in ARQT's stock could be attributed to the encouraging regulatory updates seeking label expansion for its sole marketed drug.

Here are four drug and biotech stocks, ARQT, MESO, MNPR and KOD, which have more than doubled in 2024 with room for further growth in 2025.

Arcutis Biotherapeutics, Inc. (ARQT) reached a significant support level, and could be a good pick for investors from a technical perspective. Recently, ARQT's 50-day simple moving average broke out above its 200-day moving average; this is known as a "golden cross.

The mean of analysts' price targets for Arcutis Biotherapeutics (ARQT) points to a 60.1% upside in the stock. While this highly sought-after metric has not proven reasonably effective, strong agreement among analysts in raising earnings estimates does indicate an upside in the stock.

After reaching an important support level, Arcutis Biotherapeutics, Inc. (ARQT) could be a good stock pick from a technical perspective. ARQT surpassed resistance at the 50-day moving average, suggesting a short-term bullish trend.

From a technical perspective, Arcutis Biotherapeutics, Inc. (ARQT) is looking like an interesting pick, as it just reached a key level of support. ARQT recently overtook the 200-day moving average, and this suggests a long-term bullish trend.

Following the successful product launch of Zoryve, Arcutis Biotherapeutics has returned an impressive +200% year-to-date. Recent Q3 earnings impressed, with a blistering 452% year-over-year and 45% quarter-over-quarter revenue growth. The growth trend seems poised to continue, with an expanding total patient opportunity and the industry trending away from topical steroids, which present lower efficacy and higher risk.

The consensus price target hints at a 70.3% upside potential for Arcutis Biotherapeutics (ARQT). While empirical research shows that this sought-after metric is hardly effective, an upward trend in earnings estimate revisions could mean that the stock will witness an upside in the near term.

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT ) Q3 2024 Earnings Conference Call November 6, 2024 4:30 PM ET Company Participants Latha Vairavan - Vice President, Finance and Investor Relations Frank Watanabe - President and CEO Todd Edwards - Chief Commercial Officer Patrick Burnett - Chief Medical Officer David Topper - Chief Financial Officer Conference Call Participants Vikram Purohit - Morgan Stanley Seamus Fernandez - Guggenheim Securities Uy Ear - Mizuho Serge Belanger - Needham & Co. Kambiz Yazdi - Jefferies Operator Good day, and welcome to the Arcutis Biotherapeutics 2024 Third Quarter Financial Results Conference Call. At this time, all participants are in a listen-only mode.