Arcutis Biotherapeutics (ARQT)
Develops ZORYVE topical treatments for plaque psoriasis, atopic dermatitis, and seborrheic dermatitis.
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Sells ZORYVE roflumilast creams and foam for plaque psoriasis, atopic dermatitis, and seborrheic dermatitis in the United States and Canada, while licensing the franchise in parts of Asia. Revenue is concentrated in ZORYVE and depends on approved labels, prescriber adoption, payer access, and third-party supply.
Develops and commercializes prescription treatments for chronic inflammatory skin diseases. The ZORYVE franchise uses once-daily topical roflumilast in cream and foam formulations for plaque psoriasis, atopic dermatitis, and seborrheic dermatitis. Products are sold in the United States and Canada, while partners hold topical-roflumilast rights in Greater China, Southeast Asia, and Japan.
Builds the franchise by extending a validated target across formulations, age groups, and indications, and is testing ZORYVE in additional skin diseases. The pipeline also includes ARQ-234, an early-stage biologic candidate for atopic dermatitis. Operations form one reportable segment and product revenue comes entirely from ZORYVE; commercialization depends on regulatory approvals and label expansions, prescriber adoption, payer coverage and reimbursement, and third-party manufacturing.
Company facts
Target rangeAs of Sep 22, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Aug 6, 2026 | Morgan Stanley | Reiterate | Rating: —Target: $51 | Target: $38 |
| Aug 6, 2026 | Guggenheim | Reiterate | Rating: —Target: — | Target: $38 |
| Feb 26, 2026 | H.C. Wainwright | Target | Target: $30 | Target: $34 |
| Nov 28, 2025 | Mizuho Securities | Target | Target: $32 | Target: $37 |
| Oct 30, 2025 | Goldman Sachs | Reiterate | Rating: —Target: $37 | Target: $29 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $238.6M · Total debt $114.1M · Total assets $488.5M · Shareholders' equity $220.6M
- Revenue
- $129.9M
- Operating income
- $16.4M
- Net income
- $15.0M
No dividends on record.
| Institutions | 105.41% | 132.49M shares | |
|---|---|---|---|
| 282 holders · as of Jun 30, 2026 | |||
| Insiders | 9.26% | 11.63M shares | |
| 16 holders · as of Sep 18, 2026 | |||
| Adds to | 114.67% | ||
125.69M company shares as of Sep 23, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
These groups come from separate filings that can overlap, so they add to 114.67%; nothing is left for Other.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
Suvretta Capital Management, LLCInstitution | 9.89% | 12.44M | as of Jun 30, 2026 |
BlackRock, Inc.Institution | 8.39% | 10.55M | as of Jun 30, 2026 |
Frazier Life Sciences Management, L.P.Institution | 7.86% | 9.87M | as of Jun 30, 2026 |
Patrick J. Heron1Insiderdirector | 7.12% | 8.94M | filed Jun 9, 2026 |
Rubric Capital Management LPInstitution | 6.58% | 8.27M | as of Jun 30, 2026 |
- Patrick J. Heron's transaction reports restate only vehicles that traded; the 2025 ownership statement (8.94M) plus the 5.8K net shares acquired since is used instead.
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Sep 16, 2026 | Masaru Matsuda | officer: See Remarks | −3,674 | $25.00 |
| Sep 15, 2026 | Howard G. Welgus | director | −4,730 | $24.18 |
| Sep 8, 2026 | Masaru Matsuda | officer: See Remarks | −9,989 | $25.03 |
| Aug 27, 2026 | Terrie Curran | director | −27,052 | $25.03 |
| Aug 20, 2026 | Terrie Curran | director | −1,072 | $26.04 |
- Organon
Direct topical non-steroidal rival through VTAMA
- Incyte
Topical JAK alternative in atopic dermatitis
- AbbVie
Scale immunology rival across psoriasis and AD
- Pfizer
Older topical PDE4 option for mild-to-moderate AD
- Regeneron
Biologic benchmark in moderate-to-severe AD
- Amgen
Oral PDE4 competitor in plaque psoriasis
- Bristol-Myers Squibb
Oral TYK2 option for systemic psoriasis care
- Eli Lilly
Biologic competitor in AD and psoriasis pathways
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Arcutis Biotherapeutics | $26.27 | −5.43% | $3.47B | 133.2 | 33.3 | 7.5 | +59.3% |
| Organon | $13.73 | +0.22% | $3.60B | 17.8 | 3.9 | 0.6 | +0.5% |
| Incyte | $124.56 | −1.87% | $25.73B | 16.2 | 51.6 | 4.4 | +37.7% |
| AbbVie | $264.56 | −0.25% | $468.77B | 74.8 | 17.4 | 7.3 | +10.2% |
| Pfizer | $28.03 | +0.34% | $159.19B | 36.9 | 10.0 | 2.5 | +2.6% |
| Regeneron | $791.47 | −1.55% | $82.82B | 19.9 | 13.1 | 5.3 | +16.7% |
| Amgen | $404.99 | −1.28% | $221.41B | 25.5 | 17.3 | 5.8 | +9.7% |
| Bristol-Myers Squibb | $61.74 | −0.82% | $127.16B | 13.7 | 9.7 | 2.6 | +5.7% |
| Eli Lilly | $1,153.85 | −1.39% | $1.10T | 39.3 | 28.2 | 13.8 | +47.7% |
| Median | 22.7 | 15.2 | 4.9 | +9.9% |