NEW YORK, December 31, 2025, 10:33 ET — Regular session
- Arcutis Biotherapeutics shares rose about 3.8% in morning trading, outperforming the broader biotech sector.
- The move put ARQT back within reach of $30 as the final U.S. trading session of 2025 got underway.
- Investors remain focused on demand for the company’s ZORYVE dermatology franchise and the path to sustained profitability.
Shares of Arcutis Biotherapeutics Inc rose 3.8% to $29.16 by 10:33 a.m. ET on Wednesday, extending gains in the final U.S. trading session of 2025. The Nasdaq-listed dermatology drugmaker traded between $28.08 and $29.19, with about 181,000 shares changing hands.
The move puts ARQT within striking distance of $30 and about 8% below its 52-week high of $31.75, a level closely watched by momentum investors. The stock’s 52-week low stands at $11.14, according to market data. 1
That relative strength mattered on a down day for risk assets. The biotech ETFs XBI and IBB were both modestly lower, while the Nasdaq 100 tracker QQQ slipped, underscoring that Arcutis was moving against the tape.
The outperformance also comes as year-end trading can amplify stock-specific moves, with many desks running lean and portfolios being rebalanced. For smaller healthcare names, a burst of buying can translate quickly into a larger percentage move.
Arcutis has not put out a new company press release since early December, its investor site shows, leaving traders to lean on positioning and the company’s most recent operating update. The company last disclosed a board appointment on Dec. 8. 2
Analyst sentiment on the stock has stayed generally favorable, even after a strong run in 2025. MarketBeat data show a “moderate buy” consensus, with targets clustered around the low $30s. 3
The latest fundamental anchor remains Arcutis’ third-quarter update in October, when it highlighted accelerating sales of its ZORYVE franchise — roflumilast, a topical phosphodiesterase-4 inhibitor, or anti-inflammatory, used in chronic skin diseases. The company said ZORYVE net product sales were $99.2 million, up 22% from the prior quarter, helped by demand and improved gross-to-net pricing — the gap between the list price and what the company keeps after rebates and discounts. Arcutis also guided to $455 million to $470 million of net product revenue in 2026 and outlined studies to expand use into conditions such as vitiligo and hidradenitis suppurativa. 4
“With ZORYVE, we have developed a portfolio of … topical treatments … demonstrating sustainable commercial momentum,” chief executive Frank Watanabe said in the October statement. 5
In immuno-dermatology, investors also weigh competition from other prescription creams and systemic treatments. Incyte’s Opzelura, a topical JAK inhibitor, is approved for atopic dermatitis and vitiligo, Reuters has reported. 6
For Arcutis, the next watchpoints are whether prescription growth holds up after recent label expansions, and whether reimbursement mix continues to support net revenue per prescription. Small shifts in rebates and discounts can move reported sales faster than unit volumes.
