雅虎香港財經 Analysts Are Betting On Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) With A Big Upgrade This Week
Shareholders in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) may be thrilled to learn that the analysts have just delivered a major upgrade to their near-term forecasts. The revenue forecast for this year has experienced a facelift, with the analysts now much more optimistic on its sales pipeline.
Following the upgrade, the current consensus from Arcutis Biotherapeutics' seven analysts is for revenues of US$164m in 2024 which - if met - would reflect a sizeable 55% increase on its sales over the past 12 months. Prior to the latest estimates, the analysts were forecasting revenues of US$117m in 2024. The consensus has definitely become more optimistic, showing a very substantial lift in revenue forecasts.
View our latest analysis for Arcutis Biotherapeutics
Additionally, the consensus price target for Arcutis Biotherapeutics increased 5.6% to US$19.00, showing a clear increase in optimism from the analysts involved.
Of course, another way to look at these forecasts is to place them into context against the industry itself. We can infer from the latest estimates that forecasts expect a continuation of Arcutis Biotherapeutics'historical trends, as the 79% annualised revenue growth to the end of 2024 is roughly in line with the 98% annual revenue growth over the past five years. Compare this with the broader industry, which analyst estimates (in aggregate) suggest will see revenues grow 18% annually. So it's pretty clear that Arcutis Biotherapeutics is forecast to grow substantially faster than its industry.
The Bottom Line
The highlight for us was that analysts increased their revenue forecasts for Arcutis Biotherapeutics this year. Analysts also expect revenues to grow faster than the wider market. There was also a nice increase in the price target, with analysts apparently feeling that the intrinsic value of the business is improving. Given that analysts appear to be expecting substantial improvement in the sales pipeline, now could be the right time to take another look at Arcutis Biotherapeutics.
These earnings upgrades look like a sterling endorsement, but before diving in - you should know that we've spotted 3 potential flags with Arcutis Biotherapeutics, including major dilution from new stock issuance in the past year. For more information, you can click through to our platform to learn more about this and the 2 other flags we've identified .
Of course, seeing company management invest large sums of money in a stock can be just as useful as knowing whether analysts are upgrading their estimates. So you may also wish to search this free list of stocks with high insider ownership.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
