ARQT

Over the past six months, Arcutis Biotherapeutics's stock (ARQT) trended down by 0.49%. In Q2 2026, the company reported net product revenue of $129.9 million, a 59% year-over-year and 23% sequential increase, driven by ZORYVE demand and improved pricing, leading to a raised 2026 net product sales guidance of $525–$540 million. Arcutis achieved a net income of $15.0 million ($0.11 per share) and generated $12.6 million in operating cash flow in Q2 2026. On June 29, 2026, the FDA approved the expansion of ZORYVE cream 0.3% for plaque psoriasis in children as young as two years old. On July 8, 2026, the FDA accepted a supplemental New Drug Application (sNDA) for ZORYVE cream 0.05% for mild to moderate atopic dermatitis in infants down to three months, with a PDUFA target action date of February 23, 2027. The company launched a new virtual health platform on June 30, 2026, to connect patients with dermatologists. Q1 2026 net product revenue was $105.4 million, a 65% increase compared to Q1 2025, but a 17% decrease compared to Q4 2025 due to typical Q1 seasonality. Arcutis initiated a Phase 1a/1b study for its biologic candidate ARQ-234 in Q1 2026. The dermatology sales force was expanded in May 2026, and a new primary care and pediatric sales force was launched in late August 2026, expected to contribute to sales by 2027. Analysts have maintained or reiterated 'Buy' ratings and raised price targets for ARQT stock, with an average price target of $36.67. ZORYVE's IMS scripts grew 8-9% quarter-over-quarter in Q3 2026 despite summer seasonality, with expectations for stronger volumes and sales in Q4 due to worsening flares. The company reached cash-flow positivity in Q1 2026.