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

Arcturus Therapeutics (NASDAQ:ARCT)‘s stock had its “buy” rating reissued by HC Wainwright in a report released on Thursday,Benzinga reports. They currently have a $60.00 price objective on the biotechnology company’s stock.

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

Arcturus Therapeutics Stock Performance

ARCT stock opened at $9.70 on Thursday. The firm has a market cap of $263.06 million, a PE ratio of -4.37 and a beta of 3.41. Arcturus Therapeutics has a one year low of $8.04 and a one year high of $45.00. The firm’s 50 day moving average price is $13.89 and its 200-day moving average price is $16.89.

Arcturus Therapeutics (NASDAQ:ARCT) last announced its quarterly earnings results on Thursday, March 6th. The biotechnology company reported ($1.11) EPS for the quarter, missing the consensus estimate of ($0.33) by ($0.78). The business had revenue of $22.77 million during the quarter, compared to analyst estimates of $44.64 million. Arcturus Therapeutics had a negative net margin of 36.39% and a negative return on equity of 22.39%. Equities research analysts predict that Arcturus Therapeutics will post -2.22 EPS for the current fiscal year.

Institutional Investors Weigh In On Arcturus Therapeutics

Large investors have recently added to or reduced their stakes in the business. Virtus ETF Advisers LLC grew its stake in shares of Arcturus Therapeutics by 38.8% in the fourth quarter. Virtus ETF Advisers LLC now owns 4,051 shares of the biotechnology company’s stock worth $69,000 after acquiring an additional 1,132 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of Arcturus Therapeutics in the 4th quarter valued at approximately $71,000. GAMMA Investing LLC raised its holdings in shares of Arcturus Therapeutics by 3,482.9% in the 1st quarter. GAMMA Investing LLC now owns 5,231 shares of the biotechnology company’s stock valued at $550,000 after purchasing an additional 5,085 shares in the last quarter. National Bank of Canada FI boosted its position in shares of Arcturus Therapeutics by 639.6% during the 4th quarter. National Bank of Canada FI now owns 5,532 shares of the biotechnology company’s stock worth $94,000 after acquiring an additional 4,784 shares in the last quarter. Finally, Kennedy Capital Management LLC lifted its stake in Arcturus Therapeutics by 22.7% during the fourth quarter. Kennedy Capital Management LLC now owns 10,987 shares of the biotechnology company’s stock worth $186,000 after purchasing an additional 2,036 shares during the last quarter. 94.54% of the stock is 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.