Arcturus Therapeutics (NASDAQ:ARCT) Upgraded at Zacks Research

Zacks Research upgraded shares of Arcturus Therapeutics (NASDAQ:ARCT) from a hold rating to a strong-buy rating in a report released on Monday morning,Zacks.com reports.

A number of other brokerages have also weighed in on ARCT. Scotiabank reissued an “outperform” rating on shares of Arcturus Therapeutics in a report on Wednesday, July 2nd. Leerink Partners lowered their target price on Arcturus Therapeutics from $63.00 to $54.00 and set an “outperform” rating for the company in a research note on Friday, August 22nd. Citigroup reaffirmed a “buy” rating on shares of Arcturus Therapeutics in a research note on Friday, October 10th. HC Wainwright started coverage on Arcturus Therapeutics in a research report on Thursday, September 4th. They issued a “buy” rating and a $60.00 price objective for the company. Finally, Wall Street Zen raised Arcturus Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $50.57.

Arcturus Therapeutics Stock Performance

Shares of NASDAQ:ARCT opened at $21.57 on Monday. The business has a fifty day moving average of $18.44 and a 200-day moving average of $14.38. Arcturus Therapeutics has a twelve month low of $8.04 and a twelve month high of $23.59. The firm has a market cap of $585.84 million, a PE ratio of -9.67 and a beta of 2.39.

Arcturus Therapeutics (NASDAQ:ARCT) last issued its quarterly earnings results on Monday, August 11th. The biotechnology company reported ($0.34) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.11) by $0.77. The business had revenue of $28.30 million for the quarter, compared to the consensus estimate of $17.64 million. Arcturus Therapeutics had a negative net margin of 49.26% and a negative return on equity of 24.87%. On average, analysts anticipate that Arcturus Therapeutics will post -2.22 EPS for the current fiscal year.

Hedge Funds Weigh In On Arcturus Therapeutics

Institutional investors have recently modified their holdings of the stock. Osaic Holdings Inc. raised its position in shares of Arcturus Therapeutics by 51.8% in the 2nd quarter. Osaic Holdings Inc. now owns 2,163 shares of the biotechnology company’s stock valued at $28,000 after acquiring an additional 738 shares during the period. US Bancorp DE increased its stake in Arcturus Therapeutics by 218.9% in the first quarter. US Bancorp DE now owns 3,393 shares of the biotechnology company’s stock valued at $36,000 after purchasing an additional 2,329 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in Arcturus Therapeutics by 163.4% in the second quarter. BNP Paribas Financial Markets now owns 4,169 shares of the biotechnology company’s stock worth $54,000 after purchasing an additional 2,586 shares during the period. GAMMA Investing LLC raised its holdings in Arcturus Therapeutics by 3,482.9% in the first quarter. GAMMA Investing LLC now owns 5,231 shares of the biotechnology company’s stock worth $550,000 after purchasing an additional 5,085 shares during the period. Finally, Strs Ohio bought a new position in shares of Arcturus Therapeutics during the first quarter worth $89,000. 94.54% of the stock is currently owned by institutional investors and hedge funds.

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.