Piper Sandler Issues Pessimistic Forecast for Arcturus Therapeutics (NASDAQ:ARCT) Stock Price

Arcturus Therapeutics (NASDAQ:ARCT) had its target price cut by Piper Sandler from $140.00 to $72.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the biotechnology company’s stock.

ARCT has been the topic of a number of other research reports. HC Wainwright reduced their price target on Arcturus Therapeutics from $12.00 to $9.00 and set a “neutral” rating on the stock in a research note on Tuesday. Zacks Research lowered Arcturus Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 24th. Citigroup downgraded Arcturus Therapeutics from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $49.00 to $12.00 in a research report on Thursday, October 23rd. BTIG Research lowered their price target on Arcturus Therapeutics from $48.00 to $23.00 and set a “buy” rating for the company in a report on Wednesday, October 22nd. Finally, Wall Street Zen downgraded shares of Arcturus Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, October 25th. Seven equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $36.38.

Arcturus Therapeutics Price Performance

Shares of NASDAQ ARCT opened at $8.13 on Tuesday. The company has a 50-day simple moving average of $16.58 and a 200-day simple moving average of $14.67. The company has a market cap of $220.81 million, a PE ratio of -3.30 and a beta of 2.47. Arcturus Therapeutics has a 12 month low of $7.93 and a 12 month high of $24.17.

Arcturus Therapeutics (NASDAQ:ARCT) last announced its quarterly earnings data on Monday, November 10th. The biotechnology company reported ($0.49) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.09) by $0.60. The business had revenue of $17.15 million for the quarter, compared to the consensus estimate of $17.47 million. Arcturus Therapeutics had a negative net margin of 68.35% and a negative return on equity of 28.35%. On average, analysts anticipate that Arcturus Therapeutics will post -2.22 EPS for the current year.

Hedge Funds Weigh In On Arcturus Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the company. Osaic Holdings Inc. grew its holdings in shares of Arcturus Therapeutics by 51.8% during the 2nd quarter. Osaic Holdings Inc. now owns 2,163 shares of the biotechnology company’s stock worth $28,000 after purchasing an additional 738 shares during the period. US Bancorp DE raised its holdings 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 buying an additional 2,329 shares during the period. BNP Paribas Financial Markets lifted its position in Arcturus Therapeutics by 163.4% during the second quarter. BNP Paribas Financial Markets now owns 4,169 shares of the biotechnology company’s stock valued at $54,000 after buying an additional 2,586 shares in the last quarter. Strs Ohio acquired a new position in Arcturus Therapeutics during the first quarter valued at approximately $89,000. Finally, Compagnie Lombard Odier SCmA purchased a new stake in Arcturus Therapeutics during the third quarter worth approximately $111,000. 94.54% of the stock is 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.