HC Wainwright Reaffirms “Buy” Rating for Arcturus Therapeutics (NASDAQ:ARCT)

Arcturus Therapeutics (NASDAQ:ARCT)‘s stock had its “buy” rating reaffirmed by investment analysts at HC Wainwright in a report issued on Tuesday, Benzinga reports. They presently have a $63.00 price objective on the biotechnology company’s stock. HC Wainwright’s price target would indicate a potential upside of 173.56% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the company. Leerink Partners assumed coverage on Arcturus Therapeutics in a research report on Monday, August 12th. They issued an “outperform” rating and a $70.00 price target on the stock. Leerink Partnrs upgraded Arcturus Therapeutics to a “strong-buy” rating in a research report on Monday, August 12th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Arcturus Therapeutics in a research report on Monday, September 9th. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $71.40.

Arcturus Therapeutics Price Performance

Shares of ARCT traded down $0.18 during midday trading on Tuesday, reaching $23.03. 162,174 shares of the stock were exchanged, compared to its average volume of 486,860. The business’s 50-day moving average price is $20.90 and its 200 day moving average price is $26.41. Arcturus Therapeutics has a twelve month low of $17.52 and a twelve month high of $45.00. The company has a market capitalization of $620.24 million, a price-to-earnings ratio of -5.89 and a beta of 2.60.

Arcturus Therapeutics (NASDAQ:ARCT) last posted its earnings results on Monday, August 5th. The biotechnology company reported ($0.64) EPS for the quarter, topping analysts’ consensus estimates of ($1.85) by $1.21. Arcturus Therapeutics had a negative return on equity of 25.47% and a negative net margin of 41.21%. The business had revenue of $49.86 million for the quarter, compared to analysts’ expectations of $21.00 million. During the same quarter in the previous year, the firm earned ($1.98) earnings per share. As a group, equities research analysts expect that Arcturus Therapeutics will post -2.6 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Arcturus Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Point72 Asia Singapore Pte. Ltd. acquired a new position in Arcturus Therapeutics during the 2nd quarter worth approximately $142,000. Scientech Research LLC purchased a new stake in shares of Arcturus Therapeutics during the 2nd quarter worth approximately $374,000. Millennium Management LLC boosted its stake in shares of Arcturus Therapeutics by 250.1% during the 2nd quarter. Millennium Management LLC now owns 555,024 shares of the biotechnology company’s stock worth $13,515,000 after acquiring an additional 396,505 shares in the last quarter. Deerfield Management Company L.P. Series C purchased a new stake in shares of Arcturus Therapeutics during the 2nd quarter worth approximately $958,000. Finally, Squarepoint Ops LLC purchased a new stake in shares of Arcturus Therapeutics during the 2nd quarter worth approximately $718,000. 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.