Arcturus Therapeutics Holdings Inc. (NASDAQ:ARCT) Expected to Post Quarterly Sales of $3.26 Million

Brokerages expect Arcturus Therapeutics Holdings Inc. (NASDAQ:ARCT – Get Rating) to announce $3.26 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Arcturus Therapeutics’ earnings. The lowest sales estimate is $1.00 million and the highest is $5.28 million. Arcturus Therapeutics posted sales of $2.13 million in the same quarter last year, which would indicate a positive year over year growth rate of 53.1%. The business is expected to report its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that Arcturus Therapeutics will report full year sales of $72.97 million for the current fiscal year, with estimates ranging from $25.00 million to $189.40 million. For the next fiscal year, analysts forecast that the business will post sales of $361.00 million, with estimates ranging from $48.07 million to $686.31 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Arcturus Therapeutics.

Arcturus Therapeutics (NASDAQ:ARCT – Get Rating) last released its quarterly earnings data on Monday, February 28th. The biotechnology company reported ($1.47) earnings per share for the quarter, beating the consensus estimate of ($1.77) by $0.30. The firm had revenue of $5.79 million during the quarter, compared to the consensus estimate of $12.90 million. Arcturus Therapeutics had a negative return on equity of 61.88% and a negative net margin of 1,647.99%. During the same period in the previous year, the company posted ($1.25) earnings per share.

A number of brokerages have commented on ARCT. HC Wainwright reduced their target price on shares of Arcturus Therapeutics from $47.00 to $25.00 in a report on Tuesday, March 1st. StockNews.com began coverage on shares of Arcturus Therapeutics in a report on Thursday, March 31st. They issued a “sell” rating for the company. Zacks Investment Research downgraded shares of Arcturus Therapeutics from a “hold” rating to a “sell” rating in a report on Friday, January 28th. Cantor Fitzgerald dropped their price target on Arcturus Therapeutics from $93.00 to $86.00 in a research note on Tuesday, March 1st. Finally, Citigroup dropped their price target on Arcturus Therapeutics from $114.00 to $86.00 and set a “buy” rating on the stock in a research note on Tuesday, March 15th. Six equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Arcturus Therapeutics has a consensus rating of “Hold” and an average price target of $50.75.

A number of hedge funds and other institutional investors have recently modified their holdings of ARCT. Bank of America Corp DE boosted its position in Arcturus Therapeutics by 26.6% in the second quarter. Bank of America Corp DE now owns 15,474 shares of the biotechnology company’s stock valued at $524,000 after buying an additional 3,248 shares during the last quarter. Invesco Ltd. boosted its position in Arcturus Therapeutics by 54.3% in the 2nd quarter. Invesco Ltd. now owns 8,754 shares of the biotechnology company’s stock worth $295,000 after purchasing an additional 3,079 shares in the last quarter. Wells Fargo & Company MN boosted its position in Arcturus Therapeutics by 9.3% in the 2nd quarter. Wells Fargo & Company MN now owns 118,218 shares of the biotechnology company’s stock worth $4,000,000 after purchasing an additional 10,086 shares in the last quarter. Morgan Stanley boosted its position in Arcturus Therapeutics by 179.6% in the 2nd quarter. Morgan Stanley now owns 247,544 shares of the biotechnology company’s stock worth $8,377,000 after purchasing an additional 159,019 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its position in Arcturus Therapeutics by 185.2% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 23,100 shares of the biotechnology company’s stock worth $1,080,000 after purchasing an additional 15,000 shares in the last quarter. Hedge funds and other institutional investors own 76.86% of the company’s stock.

Arcturus Therapeutics stock traded down $0.50 during trading hours on Friday, reaching $26.97. The stock had a trading volume of 314,238 shares, compared to its average volume of 588,748. The company has a market cap of $711.47 million, a price-to-earnings ratio of -3.48 and a beta of 2.74. The business’s 50 day moving average price is $24.21 and its 200-day moving average price is $33.70. Arcturus Therapeutics has a 52 week low of $16.93 and a 52 week high of $65.00.

About Arcturus Therapeutics (Get Rating)

Arcturus Therapeutics Holdings Inc, an RNA medicines company, focuses on the development of vaccines for infectious, and liver and respiratory rare diseases in the United States. The company's development programs comprise LUNAR-OTC development program for ornithine transcarbamylase (OTC) deficiency; and LUNAR-CF program for cystic fibrosis lung disease caused by mutations in cystic fibrosis transmembrane conductance regulator (CFTR) gene, as well as vaccine programs include LUNAR-COV19 and LUNAR-FLU.

Read More