Arcturus Therapeutics Holdings Inc. (NASDAQ:ARCT) Given Average Recommendation of “Buy” by Brokerages

Shares of Arcturus Therapeutics Holdings Inc. (NASDAQ:ARCT) have received an average rating of “Buy” from the eight brokerages that are covering the company, MarketBeat Ratings reports. Seven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $57.80.

Several equities analysts recently weighed in on the stock. HC Wainwright reissued a “buy” rating and issued a $60.00 target price on shares of Arcturus Therapeutics in a research note on Thursday, April 10th. Canaccord Genuity Group decreased their target price on shares of Arcturus Therapeutics from $68.00 to $66.00 and set a “buy” rating for the company in a research note on Tuesday, May 13th. Citigroup reissued a “buy” rating on shares of Arcturus Therapeutics in a research note on Tuesday, May 13th. Wells Fargo & Company decreased their target price on shares of Arcturus Therapeutics from $50.00 to $45.00 and set an “overweight” rating for the company in a research note on Wednesday, May 14th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Arcturus Therapeutics in a research note on Friday, March 7th.

Hedge Funds Weigh In On Arcturus Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ARCT. Byrne Asset Management LLC boosted its position in Arcturus Therapeutics by 89.8% during the first quarter. Byrne Asset Management LLC now owns 2,885 shares of the biotechnology company’s stock worth $31,000 after purchasing an additional 1,365 shares during the period. US Bancorp DE boosted its position in Arcturus Therapeutics by 218.9% during the first quarter. US Bancorp DE now owns 3,393 shares of the biotechnology company’s stock worth $36,000 after purchasing an additional 2,329 shares during the period. Virtus ETF Advisers LLC boosted its position in Arcturus Therapeutics by 38.8% during the fourth quarter. Virtus ETF Advisers LLC now owns 4,051 shares of the biotechnology company’s stock worth $69,000 after purchasing an additional 1,132 shares during the period. KLP Kapitalforvaltning AS bought a new position in Arcturus Therapeutics during the fourth quarter worth $71,000. Finally, National Bank of Canada FI boosted its position in Arcturus Therapeutics by 639.6% during the fourth quarter. National Bank of Canada FI now owns 5,532 shares of the biotechnology company’s stock worth $94,000 after purchasing an additional 4,784 shares during the period. 94.54% of the stock is owned by institutional investors.

Arcturus Therapeutics Stock Down 4.7%

Shares of ARCT opened at $12.20 on Friday. The stock has a market capitalization of $330.88 million, a P/E ratio of -5.50 and a beta of 2.36. Arcturus Therapeutics has a twelve month low of $8.04 and a twelve month high of $45.00. The company has a 50 day moving average of $11.37 and a 200-day moving average of $15.02.

Arcturus Therapeutics (NASDAQ:ARCT) last issued its quarterly earnings results on Monday, May 12th. The biotechnology company reported ($0.52) earnings per share for the quarter, topping the consensus estimate of ($1.58) by $1.06. Arcturus Therapeutics had a negative net margin of 36.39% and a negative return on equity of 22.39%. The company had revenue of $29.38 million during the quarter, compared to analysts’ expectations of $25.64 million. On average, sell-side analysts anticipate that Arcturus Therapeutics will post -2.22 earnings per share for the current fiscal year.

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.