HC Wainwright Lowers Arcturus Therapeutics (NASDAQ:ARCT) Price Target to $9.00

Arcturus Therapeutics (NASDAQ:ARCT) had its price target lowered by HC Wainwright from $12.00 to $9.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the biotechnology company’s stock. HC Wainwright’s price objective would suggest a potential upside of 10.70% from the stock’s previous close.

Several other research analysts have also commented on the company. Zacks Research lowered Arcturus Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 24th. BTIG Research decreased their target price on Arcturus Therapeutics from $48.00 to $23.00 and set a “buy” rating on the stock in a research note on Wednesday, October 22nd. Guggenheim downgraded Arcturus Therapeutics from a “buy” rating to a “neutral” rating in a research report on Wednesday, October 22nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Arcturus Therapeutics in a research note on Wednesday, October 8th. Finally, Wells Fargo & Company lowered their price objective on shares of Arcturus Therapeutics from $42.00 to $20.00 and set an “overweight” rating for the company in a research note on Thursday, October 23rd. Seven research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Arcturus Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $36.38.

Arcturus Therapeutics Price Performance

Shares of ARCT opened at $8.13 on Tuesday. The firm has a 50-day simple moving average of $16.58 and a two-hundred day simple moving average of $14.67. The stock has a market cap of $220.81 million, a PE ratio of -3.30 and a beta of 2.47. Arcturus Therapeutics has a 1-year low of $7.93 and a 1-year high of $24.17.

Arcturus Therapeutics (NASDAQ:ARCT) last posted its quarterly earnings data on Monday, November 10th. The biotechnology company reported ($0.49) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.09) by $0.60. Arcturus Therapeutics had a negative net margin of 68.35% and a negative return on equity of 28.35%. The firm had revenue of $17.15 million during the quarter, compared to analysts’ expectations of $17.47 million. As a group, sell-side analysts expect that Arcturus Therapeutics will post -2.22 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Arcturus Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the company. Goldman Sachs Group Inc. increased its holdings in shares of Arcturus Therapeutics by 9.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 509,712 shares of the biotechnology company’s stock valued at $5,398,000 after acquiring an additional 42,636 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in Arcturus Therapeutics during the first quarter worth approximately $299,000. Invesco Ltd. boosted its holdings in Arcturus Therapeutics by 83.1% in the first quarter. Invesco Ltd. now owns 34,896 shares of the biotechnology company’s stock valued at $370,000 after purchasing an additional 15,836 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its stake in Arcturus Therapeutics by 20.6% in the first quarter. Jacobs Levy Equity Management Inc. now owns 144,141 shares of the biotechnology company’s stock valued at $1,526,000 after purchasing an additional 24,583 shares during the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new position in Arcturus Therapeutics in the second quarter valued at approximately $240,000. Institutional investors and hedge funds own 94.54% of the company’s stock.

Arcturus Therapeutics Company Profile

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.