Arcturus Therapeutics (NASDAQ:ARCT) Given New $17.00 Price Target at Barclays

Arcturus Therapeutics (NASDAQ:ARCTGet Rating) had its price target reduced by research analysts at Barclays from $21.00 to $17.00 in a report released on Tuesday, The Fly reports. Barclays‘s price objective suggests a potential upside of 2.35% from the company’s current price.

ARCT has been the topic of a number of other research reports. Wells Fargo & Company decreased their price target on shares of Arcturus Therapeutics from $107.00 to $105.00 and set an “overweight” rating on the stock in a research note on Friday, March 25th. HC Wainwright cut their price objective on Arcturus Therapeutics from $25.00 to $19.00 in a report on Tuesday. StockNews.com initiated coverage on Arcturus Therapeutics in a report on Thursday, March 31st. They set a “sell” rating for the company. Citigroup cut Arcturus Therapeutics from a “buy” rating to a “neutral” rating and cut their price objective for the company from $86.00 to $29.00 in a report on Thursday, April 21st. Finally, Zacks Investment Research cut Arcturus Therapeutics from a “hold” rating to a “sell” rating in a report on Monday, May 2nd. Six equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $42.38.

ARCT opened at $16.61 on Tuesday. Arcturus Therapeutics has a fifty-two week low of $16.35 and a fifty-two week high of $65.00. The firm’s fifty day moving average price is $23.63 and its two-hundred day moving average price is $30.23. The company has a market capitalization of $438.82 million, a P/E ratio of -2.15 and a beta of 2.79.

Arcturus Therapeutics (NASDAQ:ARCTGet Rating) last posted its quarterly earnings results on Monday, May 9th. The biotechnology company reported ($1.94) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.44) by ($0.50). Arcturus Therapeutics had a negative return on equity of 61.88% and a negative net margin of 1,647.99%. During the same quarter last year, the company posted ($2.15) EPS. On average, analysts forecast that Arcturus Therapeutics will post -4.59 earnings per share for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in the stock. Swiss National Bank raised its holdings in shares of Arcturus Therapeutics by 7.8% in the first quarter. Swiss National Bank now owns 49,900 shares of the biotechnology company’s stock valued at $1,345,000 after buying an additional 3,600 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its holdings in shares of Arcturus Therapeutics by 9.0% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 8,298 shares of the biotechnology company’s stock valued at $224,000 after buying an additional 687 shares during the last quarter. Los Angeles Capital Management LLC bought a new position in shares of Arcturus Therapeutics in the first quarter valued at about $1,608,000. IndexIQ Advisors LLC bought a new position in shares of Arcturus Therapeutics in the first quarter valued at about $382,000. Finally, Nikko Asset Management Americas Inc. raised its holdings in shares of Arcturus Therapeutics by 3.3% in the first quarter. Nikko Asset Management Americas Inc. now owns 1,402,078 shares of the biotechnology company’s stock valued at $37,856,000 after buying an additional 44,606 shares during the last quarter. 80.10% of the stock is owned by institutional investors and hedge funds.

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.

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