HC Wainwright Reaffirms Buy Rating for Arcturus Therapeutics (NASDAQ:ARCT)

Arcturus Therapeutics (NASDAQ:ARCT)‘s stock had its “buy” rating reaffirmed by stock analysts at HC Wainwright in a note issued to investors on Thursday,Benzinga reports. They presently have a $60.00 target price on the biotechnology company’s stock.

A number of other equities analysts have also issued reports on the company. Cantor Fitzgerald reissued an “overweight” rating on shares of Arcturus Therapeutics in a report on Friday, March 7th. BTIG Research set a $48.00 price objective on Arcturus Therapeutics and gave the stock a “buy” rating in a research report on Monday, March 10th. Wells Fargo & Company dropped their target price on Arcturus Therapeutics from $58.00 to $50.00 and set an “overweight” rating on the stock in a report on Friday, March 7th. Finally, Canaccord Genuity Group cut their price target on Arcturus Therapeutics from $74.00 to $68.00 and set a “buy” rating for the company in a research note on Monday, March 10th. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $59.20.

Arcturus Therapeutics Stock Performance

Shares of ARCT stock opened at $9.70 on Thursday. Arcturus Therapeutics has a 1 year low of $8.04 and a 1 year high of $45.00. The firm has a market cap of $263.06 million, a price-to-earnings ratio of -4.37 and a beta of 3.41. The stock’s 50-day moving average is $13.89 and its two-hundred day moving average is $16.89.

Arcturus Therapeutics (NASDAQ:ARCT) last issued its quarterly earnings data on Thursday, March 6th. The biotechnology company reported ($1.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.78). Arcturus Therapeutics had a negative net margin of 36.39% and a negative return on equity of 22.39%. The firm had revenue of $22.77 million during the quarter, compared to analysts’ expectations of $44.64 million. As a group, research analysts predict that Arcturus Therapeutics will post -2.22 EPS for the current year.

Institutional Trading of Arcturus Therapeutics

A number of institutional investors have recently modified their holdings of ARCT. Charles Schwab Investment Management Inc. grew its stake in shares of Arcturus Therapeutics by 1.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 197,622 shares of the biotechnology company’s stock worth $4,587,000 after purchasing an additional 3,224 shares during the period. BNP Paribas Financial Markets grew its stake in Arcturus Therapeutics by 954.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 15,831 shares of the biotechnology company’s stock valued at $367,000 after acquiring an additional 14,330 shares during the last quarter. Verition Fund Management LLC purchased a new position in Arcturus Therapeutics during the 3rd quarter valued at about $420,000. Geode Capital Management LLC grew its position in shares of Arcturus Therapeutics by 1.1% in the third quarter. Geode Capital Management LLC now owns 551,798 shares of the biotechnology company’s stock valued at $12,810,000 after purchasing an additional 5,789 shares during the last quarter. Finally, Franklin Resources Inc. increased its stake in shares of Arcturus Therapeutics by 54.6% during the 3rd quarter. Franklin Resources Inc. now owns 103,936 shares of the biotechnology company’s stock worth $2,412,000 after purchasing an additional 36,714 shares in the last quarter. 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.