Arcturus Therapeutics’ (ARCT) Buy Rating Reaffirmed at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Arcturus Therapeutics (NASDAQ:ARCT) in a research note issued to investors on Tuesday, Benzinga reports. HC Wainwright currently has a $63.00 price target on the biotechnology company’s stock.

A number of other brokerages have also issued reports on ARCT. Leerink Partners began coverage on Arcturus Therapeutics in a research note on Monday, August 12th. They set an outperform rating and a $70.00 price target for the company. Cantor Fitzgerald reissued an overweight rating on shares of Arcturus Therapeutics in a research note on Monday, September 9th. Finally, Leerink Partnrs raised Arcturus Therapeutics to a strong-buy rating in a research note on Monday, August 12th. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of Buy and a consensus price target of $71.40.

Arcturus Therapeutics Stock Down 2.8 %

ARCT stock opened at $24.76 on Tuesday. Arcturus Therapeutics has a 52 week low of $17.52 and a 52 week high of $45.00. The company has a fifty day simple moving average of $21.03 and a two-hundred day simple moving average of $26.31. The firm has a market capitalization of $666.84 million, a P/E ratio of -6.33 and a beta of 2.60.

Arcturus Therapeutics (NASDAQ:ARCT) last released its quarterly earnings data on Monday, August 5th. The biotechnology company reported ($0.64) EPS for the quarter, beating the consensus estimate of ($1.85) by $1.21. Arcturus Therapeutics had a negative net margin of 41.21% and a negative return on equity of 25.47%. The business had revenue of $49.86 million during the quarter, compared to analyst estimates of $21.00 million. During the same quarter last year, the business earned ($1.98) earnings per share. As a group, analysts anticipate that Arcturus Therapeutics will post -2.6 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in ARCT. Campbell & CO Investment Adviser LLC purchased a new position in shares of Arcturus Therapeutics in the 4th quarter valued at $927,000. NEOS Investment Management LLC purchased a new position in shares of Arcturus Therapeutics in the 4th quarter valued at $273,000. Pennant Investors LP purchased a new position in shares of Arcturus Therapeutics in the 4th quarter valued at $413,000. Granahan Investment Management LLC increased its holdings in shares of Arcturus Therapeutics by 12.9% in the 4th quarter. Granahan Investment Management LLC now owns 450,366 shares of the biotechnology company’s stock valued at $14,200,000 after acquiring an additional 51,504 shares during the period. Finally, Wellington Management Group LLP increased its holdings in shares of Arcturus Therapeutics by 40.3% in the 4th quarter. Wellington Management Group LLP now owns 60,841 shares of the biotechnology company’s stock valued at $1,918,000 after acquiring an additional 17,491 shares during the period. 94.54% of the stock is currently owned by hedge funds and other institutional investors.

About Arcturus Therapeutics

Arcturus Therapeutics Holdings Inc, a late-stage clinical messenger RNA medicines and vaccine company, focuses on the development of infectious disease vaccines and other products within liver and respiratory rare diseases. Its technology platforms include LUNAR lipid-mediated delivery and STARR mRNA.