Arcturus Therapeutics Holdings Inc. (NASDAQ:ARCT) Receives $29.50 Average Target Price from Brokerages

Arcturus Therapeutics Holdings Inc. (NASDAQ:ARCT) has earned an average rating of “Moderate Buy” from the thirteen research firms that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation, eight have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $29.50.

Several equities analysts recently weighed in on ARCT shares. Piper Sandler cut their price objective on Arcturus Therapeutics from $72.00 to $25.00 and set an “overweight” rating for the company in a research report on Wednesday, March 4th. B. Riley Financial initiated coverage on Arcturus Therapeutics in a report on Wednesday, March 18th. They set a “buy” rating and a $22.00 price target for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Arcturus Therapeutics in a research report on Wednesday, January 21st. Citigroup lowered their price objective on shares of Arcturus Therapeutics from $66.00 to $21.00 and set a “buy” rating on the stock in a research note on Thursday, March 5th. Finally, Roth Mkm started coverage on shares of Arcturus Therapeutics in a research note on Thursday, January 22nd. They set a “buy” rating and a $20.00 target price for the company.

Arcturus Therapeutics Trading Down 1.3%

Shares of Arcturus Therapeutics stock opened at $6.63 on Friday. The firm has a fifty day simple moving average of $7.42 and a 200-day simple moving average of $10.43. The stock has a market capitalization of $188.44 million, a price-to-earnings ratio of -2.79 and a beta of 2.40. Arcturus Therapeutics has a 1-year low of $5.85 and a 1-year high of $24.17.

Arcturus Therapeutics (NASDAQ:ARCT) last announced its earnings results on Tuesday, March 3rd. The biotechnology company reported ($1.03) EPS for the quarter, missing the consensus estimate of ($0.92) by ($0.11). The firm had revenue of $7.20 million during the quarter, compared to the consensus estimate of $14.32 million. Arcturus Therapeutics had a negative return on equity of 29.13% and a negative net margin of 80.19%. As a group, research analysts predict that Arcturus Therapeutics will post -2.22 earnings per share for the current year.

Institutional Investors Weigh In On Arcturus Therapeutics

Several hedge funds have recently made changes to their positions in ARCT. Osaic Holdings Inc. grew its position in Arcturus Therapeutics by 51.8% during the second quarter. Osaic Holdings Inc. now owns 2,163 shares of the biotechnology company’s stock worth $28,000 after buying an additional 738 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in Arcturus Therapeutics by 163.4% in the 2nd quarter. BNP Paribas Financial Markets now owns 4,169 shares of the biotechnology company’s stock valued at $54,000 after acquiring an additional 2,586 shares in the last quarter. Mercer Global Advisors Inc. ADV bought a new stake in shares of Arcturus Therapeutics in the 4th quarter worth approximately $64,000. Intech Investment Management LLC acquired a new stake in shares of Arcturus Therapeutics during the 4th quarter worth approximately $70,000. Finally, CANADA LIFE ASSURANCE Co grew its holdings in shares of Arcturus Therapeutics by 65.1% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 12,009 shares of the biotechnology company’s stock worth $73,000 after purchasing an additional 4,737 shares in the last quarter. Institutional investors own 94.54% of the company’s stock.

About Arcturus Therapeutics

Arcturus Therapeutics Holdings Inc is a clinical-stage biotechnology company dedicated to developing messenger RNA (mRNA) medicines that address a range of diseases. The company leverages its proprietary STARR® mRNA platform to enable precise control over mRNA expression, supported by its lipid nanoparticle delivery technology, LUNAR®. Arcturus’s approach is designed to address both therapeutic and prophylactic applications, with an emphasis on vaccines and treatments for rare genetic and infectious diseases.

The company’s pipeline includes ARCT-810, an mRNA therapeutic candidate for phenylketonuria (PKU), and ARCT-021 (also known as LUNAR-COV19), a COVID-19 vaccine candidate developed in collaboration with Duke-NUS Medical School in Singapore.